3 Steps To Take As A Landlord
Did you purchase a few homes over the years that you would like to start renting out? Although renting your house out might seem like an easy goal to accomplish, it can be more complicated than you think. There are many things to consider when you start getting tenants, such as what you can legally do if one of your tenants becomes problematic. Keeping track of how well your houses are being taken care of should also be considered, as you don't want to end up with a large amount of damage being done. This article had useful suggestions that will be handy for getting off to a good start as a landlord.
1. Make Sure the Leases Are Professional
The most important thing to do as a landlord is to make sure your leases are professionally drafted up. You must make sure that you are covered legally in the event that you are put in various situations with tenants. Contacting a real estate lawyer is the best way to ensure that what is written in your leases will cover all of the necessary legal grounds. A lawyer can actually make suggestions in regards to what should be written in the lease agreements in case you can't decide on your own. One of the most important aspects of your lease agreements is to clearly state what will happen if a tenant does not pay his or her rent by a certain date.
2. Hire Someone to Manage Your Houses
If you will be unable to manage your houses, it is wise to hire someone to handle the task on your behalf. Managing houses will involve a lot of work if you want to keep them in good shape. For instance, inspections should be done every now and then to ensure that there are no damages that tenants have not reported. For example, if there is a leak in one of your houses, it is important to find out about it in a timely manner before you end up having to spend a large amount of money on repairs.
3. Offer to Provide Lawn Maintenance
Poor curb appeal can prevent future tenants from showing an interest in your houses. You must keep in mind that it is possible that you will rent to tenants that don't take care of the landscape. If you want to keep your houses with curb appeal, simply provide lawn maintenance to your tenants. You can also charge a mandatory lawn maintenance fee.