06 Tips for the Long Distance Landlord When people relocate to a different area, some landlord transforms their home into rental property. It is a great way to bring an extra income but the most important thing is find the right tenant. Managing a rental property is a challenging task. Landlord live away from the property is sometimes good for the tenant as there is no one to disturb or argue for the things.
Landlord must know the important things to manage the rental apartments from a far and make an easier process for yourself and tenant. Letâ€™s read all the steps to be keep in mind: 1. Find Trustworthy Tenant: It is really important that you trust your tenant otherwise, your mind always divert to your tenant and you could not sit quiet and calm. When you renting an apartment to someone, make sure you must conduct a thorough screen test of the tenant such as know the background history and ask them to complete a rental application and tenant must fill the references. Tip: if possible, rent to family, relatives, and friends or within references as this can give you a peace of mind that your property is safe and is in good hands. 2. Handle Maintenance Work: Condos and apartments needs extra care such as cutting down of outside grass, parking lots cleaning of pools etc. So, you need to hire someone to do these maintenance work regularly and keep your property safe and clean. Tip: You can ask your tenant to do the yard work themselves and you can payout for it. 3. Have a Contact of Repairs departments: Tenants needs an electrician, plumber, repair man etc as sometimes there may take place a leakage problem or electrical problem, then you have a list or contacts of good electrician,
plumber and other complaints member on your phone. So that you can all them to get the job done and bill you later. 4. Communication: Landlord must be communicate with the tenant, so that they come to know what is going on the rental property and moreover, they come to know the behaviour of the tenant. 5. Set proper documentation and lease terms: You must have complete form of the lease agreements. Your property, your rules. So that it must be clear in front t of the tenant before they move in. 6. Payment option: You have to set some platform to get the payment from your tenant as it can be tricky to get the payment in cash or checks.
Published on Feb 17, 2017
When people relocate to a different area, some landlord transforms their home into rental property. It is a great way to bring an extra inco...