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TIPS/HACKS FOR OWNERS WITH RENTAL PROPERTIES

A clean well-maintained property not only brings more rent, it also reduces unexpected cost.  Whether you have a property manager or do it yourself, there are some helpful practices that will make your life much easier when dealing with tenants and/or your house.

 

  • Make sure you have the appropriate insurance that covers you, the property management and possible tenant issues.
  • Go ahead and pay for annual maintenance plans for HVAC and pest. Many HVAC plans do not charge additional fee for emergency or weekend visits. This saving could even pay for the maintenance fee.
  • Provide a fire extinguisher for every kitchen and show tenants how to use it.
  • Use your states legal property management paperwork.  If you want to create your own, be sure to have an attorney review it to ensure it is legal.
  • Use a background company and really call the references and work
  • Create or review your property manger’s cleaning and maintenance lists. 
  • Have the unit professionally cleaned before securing new tenants.  When the place is clean, tenants are able to see what you expect.
  • Set clear time boundaries about when you will talk to tenants.
  • Research and have a clear understanding about fair housing and service animals.
  • Always, Always, Always have a written lease.
  • Fix small issues as they occur and do it right the first time. This will save money and time in the long run.
  • Use a move in/out form and review with tenants. They need to know the difference between a cosmetic vs. repair. Also it is good that everyone knows that big scratch was already in the floor before they moved in.
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These are just a few of the most important concerns.  Experienced real estate investors or your property manager will have many other tips to share.  

For more information about our property management company Town Mountain Properties please text 828 279 6723