August 29th, 2019 | Updated on June 30th, 2022
Renting your investment property can provide you with an additional income and help cover the maintenance cost of the property as well.
However, it is not always as easy as it sounds. Having a good tenant can make life easier as you do not have to worry about your property, stay informed, and most importantly, receive the due rent on time.
However, at times you may come across difficult tenants, and it can turn things upside down for you. It can be challenging to deal with such renters, and you need to know a few tips and tricks to know how to deal with them.
Here are a few handy pointers you must keep in mind:
It’s essential to follow the rules and regulations mentioned in the lease at the start of the term consistently.
If the renters are not paying or have high unpaid balances, make sure to send them notices on time. It’s crucial to keep such communication in writing to help you legally if the matter goes to collection.
It is also essential to speak politely but firmly to the renters, and if they still do not listen or comply after multiple reminders, it is best to take legal action.
2. Unpaid Rent
When a renter leaves without paying the due amount, it is critical to comply with the laws of the land to repossess the property.
There is a system in place using which you can repossess the property abandoned by the renter to avoid disputes.
It is important to gather documents and evidence that you can submit to the relevant authorities and credit agencies so that the renter pays for the offense and doesn’t repeat the same elsewhere.
3. Lawsuit Threats
Being aware of the local housing and tenancy laws can help you deal with such tenants with high-handedness.
Do not lose your cool and deal with such situations in a calm and composed manner as it would help inspire positivity and confidence.
When you go with Northern Virginia Property Management services, you’ll be sure to get the best results.
4. Damaged Property
It’s necessary to put in property insurance as one of the lease requirements to ensure that you are not financially liable in case the renters damage your property.
The property will never be the same after you keep tenants as there would always be some damages and wear and tear.
While it is expected and accepted to a reasonable extent, massive damages such as kitchen fires, broken doors, and cracked windows cannot be tolerated.
Take photos of such damages to aid your case if you decide to pursue them legally.
Using the above tips, you can easily prevent renters that can cause trouble. However, sometimes no matter how hard you try, there will always be a few renters who just won’t listen to you.
If you do not want to deal with such difficult people, it’s best to hire Northern Virginia Property Management company as they can provide you with a peace of mind since they will be responsible for finding renters as well as collecting the rent on time, saving you a lot of money and time.