Fort Lauderdale is a perfect town to generate income as a landlord. There are plenty of opportunities for rental properties located throughout the town and people are always moving to this area on a regular basis. If this is your first time entering into a landlord game, then you’ll want to put these tips into action to ensure your success.
Take Extra Time To Screen Tenants
when you advertise a property for rent you may be inundated with dozens of inquiries. Having an open house on the weekend is the perfect solution for allowing these potential tenants to see the property. You don’t want to set up dozens of separate interviews throughout the week.
When you find someone who appears to be a good tenant, you still want to run a thorough background and credit check on them. It is also important to verify their employment. You should never rent to anyone who doesn’t make at least three times what you’re charging for rent each month. That way you know they shouldn’t be a problem with getting your rent. Of Course, you can factor in double incomes from couples but just make sure the employment is steady. Anyone who works on commission can always have an “off” month that might affect their ability to pay your rent.
Make Your Lease Agreement Ironclad
Don’t depend on a boilerplate lease agreement that you download from the Internet. Although that’s place to start it might contain regulations pertaining to Fort Lauderdale or the state of Florida laws. You also want to make sure your lease agreement covers all the things that are important to you as a property owner. That includes whether allowing someone to smoke in the apartment or have pets. There are some landlords that make exceptions for pets provided they are of a certain weight. In reality, all pets regardless of size have the potential to create damage and/or disturbances. On the other hand, adding in a pet security deposit could cover all of that concern.
Respond Quickly To Complaints
Think about how many times you’ve had to call a plumber or handyman for repairs around your home. That is exactly what will be going on in your rental properties. It is your responsibility to respond promptly to those requests for repairs. It might be that your tenants are able to make fixes and any money they spend can be deducted off the following month’s rent. If that saves you time in the hassle, then it’s a good way to go. Just make sure everything is in writing.
You can bring in professionals to take care of a lot of the maintenance. For instance, rubbish removal is a job best turned over the Junk King Fort Lauderdale. These professional junk haulers have been in this line of work for over 10 years. The crew sent to take care of your property won’t have any trouble lifting and loading heavy objects like sofas or recliners. Junk King Fort Lauderdale is the perfect junk clearing partner to help your landlord business become a success.