By leezj
Outline of basic rules you should settle with your tenants before they move in:
Being a real estate guru or a property manager is not all that it seems. Sure you get extra income but at what cost… the biggest cost that you have to save is YOUR TIME.
Make sure you complete a through backaround and history of every potential client. This will save you some grief in the long run. We all hear the stories of tenants abandoning the property or leaving properties in shambles with thousand is repair costs that you cannot collect.
Setting out basic rules or guidelines for your tenant before hand would be ideal to avoid future problems. Tenants have rights and so do landlords, unfortunately most government run rent- tenancy branches cater to the rights of the tenant… Make sure the information below is included in your lease agreement, Some information is really common sense however, not everyone has it (these are stated in no particular order) you can also include any other guidelines HOWEVER make sure you put everything in writing:
o Landlords should also have the right to enforce any rules or regulations.
o You will be evicted from this property if any of these rules violated.
o No fireworks, explosives or any fire hazardous items can be used on the premises.
o USE OR POSSESSION OF ANY WEAPON IS PROHIBITED.
o Use or possession of drug paraphernalia is strictly prohibited.
o Written notice to the landlord should be provided before Renting/subleasing to others and written acceptance from the landlord.
o Avoid Disturbing behaviors such as yelling loud music, excessive noise, established quiet hours are between (indicate specific time here).
o Duplication of keys is strictly prohibited and locks should not be altered.
o No pet or animal, reptile, bird, fish on the property. (You can change this as you deem necessary.
o No other people can live in the rental unit other than the residents assigned on the lease agreement.
o Rent must always be paid on time- (State any additional late charges before hand and find out what your government regulation and guidelines fees are before you set any price, or else you can get penalized)
o Tenants must keep the unit reasonably clean, and all exits must be clear of furniture or obstructing objects.
o Painting and redecorating can only be completed with written consent of the landlord or property manager.
o No intentional damage should be done to the rental complex, if damages occur a reasonable attempt to repair damage should take place in a reasonable time frame and not disturb others in the residential complex or neighboring property;
o Safety of all tenants and guest should be considered before completing any task or activity.
Again, rental properties are a good investment but most people give up after the first five years because of the hassle of dealing with tenants. If you put regulations in your agreement they will not always be followed but they can be enforced.
Source : hubpages
