Best Advice For First-Time Landlord

There is a first time for everything. That includes being a landlord. Even though you may have spent a lot of your life living as a renter, now that you have invested in a rental property the tables are turned. As a landlord, you need to treat your rental property as a business. Here are some the best advice you should embrace as a first-time landlord:

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Make Collecting Rent A Priority

This might seem obvious but you would be surprised at how many landlords are not aggressive when it comes to pursuing the rent or late charges. Once a tenant realizes they can “get away with” paying late, then that is exactly what they will do. The moment a tenant stops paying rent altogether and ignores your attempts at communication is when you need to immediately start eviction proceedings. Remember you have a mortgage to pay and is not your responsibility to provide someone a place to live if they can afford it.

Thoroughly Screen Tenants

It all comes down to your tenants. You need to take the time to screen and probably. Just because your rental unit has been sitting vacant for while doesn’t mean you should rush into a bad tenant. Start with the credit score. That will give you a good indication of how they are paying bills. You also want to contact their previous landlord to check on the payment history. If they can provide you with that reference, then you have to wonder why. Your tenet should also have a steady job where they make at least three times the amount of rent you’re asking for. Again, you’re not in this business to make friends and provide free shelter.

Think Twice About Allowing Pets

Although you may be a pet owner yourself that doesn’t mean the people you’re renting to should be. Often, you may discover someone is not as responsible with their pets as you are. This is especially a trouble with cats that can create all kinds of bad odors that linger at an apartment. You could accept a pet deposit for cleaning when a tenant moves out but just know that you may be setting yourself up for bigger challenges.

Maintain Your Property

It goes without saying that anytime a tenant leaves you should make sure the carpets a clean, the walls are painted and the appliances work for the next tenant. If you get into a situation where a tenant leaves behind rubbish, then one call to Junk King Salt Lake City can quickly get that taken care of. They’ll send over a pair of movers and truck big enough to hold whatever you need to toss out. This is also crew that has a lot of experience climbing stairs and lifting all kinds of heavy objects. When it comes to getting your apartments clear of rubbish you’ll find that Junk King Salt Lake City is the perfect work partner.