Being a landlord is a risky job.
Reduce the risk with these four ways to protect yourself from troublesome tenants.
1. Educate Yourself And Know The Law
Managing a rental property requires more than just paying the mortgage on time and collecting rent. Renter issues arise often and vary in severity, so you must know where you stand in any given situation.
2. Stick To Documented Policies No Matter What
When a new tenant signs your rental contract, they are agreeing to all the policies and procedures set forth by you in that document. It’s important they understand everything before they sign, and it’s your job to make sure they do.
3. Document Everything That Happens
Investing in crm software can help you organize multiple tenants into a spreadsheet or something similar. How you choose to document your interactions with your tenants is up to you; just be sure you do.
4. Take Safety Precautions
Angry tenants are a real concern for landlords. You can’t please everyone all the time, especially when you’re a rental property owner. Rather than leave anything to chance, use the following tips to protect yourself and your family as much as possible.
· Never give out your home address.
· Make it possible for tenants to pay rent online
· Use a p.O. Box to collect mailed rent payments
Emma Co Personal Real Estate Corp | Macdonald Realty
firstname.lastname@example.org | 6046183888
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