After you have leased out your property it is inevitable that you will face some issues with your tenant. Even the most responsible and respectful tenant will commit some mistakes, nobody is perfect after all. As long as they don’t make it a habit, most landlords will let small infractions slide. However, there are some common violations that cannot be ignored and you should take care to protect yourself against them.
We would like to point out this article is about how to deal with violations not how to prevent them from happening.
1. Property Damages
Broken fixtures, torn up carpets, holes in the walls, these are some of the problems you might face when taking on a tenant. Not only is it upsetting, it can quickly reduce your rental profits. The only way you can protect yourself is by scrupulously documenting every item and piece of furniture in the property before the tenant moves in.
You can take detailed photographs of key aspects of your property or you can employ a professional agent/agency to conduct an inspection for you. Furthermore, you can ask a professional agent/agency to conduct semi-regular property inspections; that way you will get regular updates of your property and it will ensure that the tenants will play ball as well. Make sure you clearly state the frequency of the inspections in the contract.
2. Unauthorised Pets
Whether you choose to allow pets into your property or not is entirely up to you, just remember that every pet is different and will behave differently. If you allow pets and your tenants bring in some, there is a chance that they will damage any fixtures and furniture you place in the property.
To prevent this from happening, be sure to spell out all your guidelines on your lease so that you may enforce this rule and take action should a tenant violate this rule. If you choose to you can schedule “maintenance” inspections via an agent/agency and tell tenants about them before they move in, this will deter them from trying to sneak in any pets without your permission.
3. Home based businesses
It isn’t uncommon for tenants to work from home as a freelancer. However, on rare occasions, tenants may run an entire business from home, with employees and customers/clients moving around the premises. They may even be receiving and shipping large quantities of supplies.
You must make sure to include the prohibition of this in your contract, that way you will have every right to put a stop to it and perhaps even evict them should they refuse to comply.
As an investor and a leaseholder, it is important to know the problems you might face when you rent out your properties and how you may deal with them. We hope this article has been helpful and informative in that you now know what to expect when leasing out properties.
Want more advice on looking after your properties? Talk to us, send us your questions to hello@iqiglobal.com or call us at 012-299-6155 or 037-450-6655. We want to help you have the best experience possible as an investor.
Liked what you read? You may find this article interesting; click the link for more articles: 5 Small Improvements That Will Keep Your Property Looking Fresh
To be a part of our award winning team of investors click here:https://goo.gl/XV25YX