Three Rental Property Tips for Landlords
Thursday, August 26th, 2010Many people are professional landlords, but some of us happen upon it when we decide to rent out a home or condo. Help protect yourself and potential tenants by following these tips for being a landlord:
- Provide security: Make sure that windows, doors and all locks work properly. Ask tenants to alert you to any malfunctions in order to help protect them and your property. Consider installing a home alarm system if you don’t already have one at the location.
- Consult laws and procedures: Ask interested parties to fill out formal housing applications. Get tenants to sign a contract before moving in and make sure that you understand their and your responsibilities for keeping up the property.
- Check backgrounds: Conduct background and credit checks on anyone before you let them sign a lease and move in. It’s OK to collect a fee from applicants to cover this expense.