Monday, March 23, 2009

How to Be a Good Landlord

How to Be a Good Landlord

If you own property and rent it out, you know how important it is to have all of your ducks in a row.

KNOW THE LAW - It is essential that you keep up with the laws in your area. They usually rule how much you can charge for a deposit, how much time until you return the deposit and other important issues that are vital.

HAVE AN IRONCLAD CONTRACT - Make sure your rental agreement is clear and to the point. Everything should be included in the agreement, including who takes are of the landscaping, and whether or not they can wash their car in the driveway. Don't forget to include pets and the number of people living in the home. Let the tenants know that guests cannot stay for longer than 2 weeks.

TAKE A VIDEO of the interior of your home before you rent it. Years later when the renters move out, you will need it to prove what good shape your home was in.

ALWAYS REQUIRE A PROFESSIONAL CARPET CLEANER - Tenant self cleaning is not acceptable. If you suspect that they cleaned the carpets themselves, ask to see the receipt. If a tenant insists that they can do a good job, let them know that it was professionally done before they moved in and the next tenant needs the same quality.

TAKE AN EXTRA DEPOSIT - If you allow pets in your home, take an extra amount in the deposit, if it is allowed in your state.

Being a good landlord means taking care of business and providing your tenant with the things you have promised.

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