Monday, June 18, 2012

Landlord Tips

Tips for Dealing with Tenants
There are a lot of perks to being a landlord including monthly rental income, financing a property through tenants and growing your investment portfolio. However, nearly every situation has an equal and opposite and in the case of renting, the obstacles can seem rather overwhelming if you’re not prepared for them.

Know Your Rights
Landlord rights differ across states, but it's important to get well acquainted with your rights and responsibilities before renting a property. You can visit your state government website to learn more about specific laws regarding landlord laws in your area.

Basic Responsibilities
  • Ensure the property is habitable before tenants move in
  • Pay for all repairs due to basic wear and tear
  • Do not unlawfully discriminate based on race, religion or sex
  • Do not turn off tenant's water, electricity or gas
Leases

As a landlord, the lease is your best friend. It's unfortunate, but most landlords will deal with unruly tenants at some point, which is why a specific, detailed lease is imperative. Getting lease terms in writing helps protect you and your property in the future. Include all of your expectations in your lease from the the time frame that the tenant will rent to whether or not they are expected to mow the lawn.

Items to Cover in the Lease

  • How much is the rent and when is it due?
  • How long is the lease for? Month to month - a year?
  • What is the total deposit and what does it cover?
  • Pets - are they allowed? Is there a pet cleaning fee?
  • How many tenants are included in the lease? Can more people move in?
  • Who pays for what repairs?
  • Who takes care of lawn and snow service?
  • Is the tenant responsible for their own utilities?
  • Is there a fee for late rent?

Issues Getting a Tenant to Vacate:

Tenants have a lot of rights when it comes to the home that they have been occupying, which is why many landlords complain incessantly about the process of evicting tenants. Your first step is to treat your tenants with kindness and respect, preferably from the first day that they move in. If you maintain a positive relationship, they are less likely to create conflict if an eviction occurs at some point. If for some reason, you need to ask them to leave, start with a conversation. Explain your reason for asking them to vacate, offer them a positive reference (if you’re willing) and inform them that a written notice will follow the verbal one. Give written notice to them directly to ensure that they receive it and make sure that you adhere to any local tenant notice laws in terms of what the notice should say and how soon they must receive it. If your tenant refuses to leave, you may have to file an Unlawful Detainer Suit and begin court proceedings to have them legally removed from the premises. This generally includes filing a complaint or petition with your local court and a future court date will be set. In many cases, the tenant will be required to respond to legal documents and appear in court.

As an East Lansing realtor that specializes in licensed rental properties, I can assist you if have questions about your rights and responsibilities as a landlord. If you;re thinking about expanding your portfolio to include rental properties, including East Lansing rental housing, get in contact with me at MyRealtorRob.

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