Last
week I wrote about how to get an apartment and what to do after you get it.
This week, we’re moving to the other side of the coin – tips for landlords. I've never been a landlord, but my dad has for quite some time now. I've seen
what good tenants and bad tenants can do to an apartment. Read ahead for some
tips on how to maintain a good relationship with good tenants.
Screen
your applicants. This means doing your homework on the person who wants to live
on your property. Do a background check. Do a credit check. Check on their job
status, their current landlord, etc. There are only a few things you can
decline a tenant for – income, employment, and credit. The Fair Housing Act
prohibits landlords from discrimination. If a landlord rejects an applicant
based on something from the credit check, they must provide the name and
address of the credit reporting agency used.
Use a written lease. Regardless of
if it is month-to-month, year-by-year, etc. using a written lease protects both
you and the tenant should a problem arise in the future. There are plenty of
ways to get a written lease. You can find a lawyer specializing in lease
agreements and have one written. You can go to any office supply store and get
a standard agreement. You can go on the internet and find some. Regardless of
the method, you need to customize it to your specifications. Incorporate
anything about pets, noise, smoking, late fees, guests, parking, etc. to have
things in clear writing. Here is a list of ten
things that must be in a lease.
Make
repairs on the property when requested, according to the rental agreement.
There are laws about what makes a property habitable and if the property falls
under those bars set, your tenant could have grounds to sue you. There’s also
the issue of liability if someone become hurt on your property because of your
neglect. Make sure you have enough
insurance to cover the property, as well as liability. Be sure to notify
your tenant before entering the home. They have rights to privacy just as you
have rights to enter. Many states require a 24 hour notice of entry. In the
same vein, you must notify your tenants of mold or lead in the home. Know the
laws in your state, county, city, etc. that regard being a landlord and
property owner. Make sure you have everything up to code and in compliance with
regulations.
Other helpful links:
Tips
for Starter Landlords (Good if you are subletting)
