Peter Katsarelis
Top Ten Landlord/Tenant Issues
If you’ve recently invested in real estate, you’ll know that managing your property can come with its fair share of difficulties. From maintaining your property to collecting rent and keeping your tenants happy, there are many challenges to face. However, being proactive and knowing what to expect can make all the difference. In this article, we’ll cover the top ten tenant disputes you’re likely to encounter as a landlord, and how to solve them proactively.
Clear, Consistent Communication is Key
Effective communication is essential when it comes to preventing and resolving landlord-tenant disputes. One way to avoid conflicts before they arise is to outline expectations around noise, habitability, and a quiet environment in your lease agreement. When conflicts do arise, you can refer back to this agreement to remind your tenants of their obligations.
Top Ten Tenant Disputes and How to Solve Them Proactively
Miscommunication: Staying organized and creating streamlined systems can help keep your operation running smoothly. Digital tools like property management software can help automate tasks like accounting, rent payments, and maintenance requests.
Late or Non-Payment: Communicate your late fee policy early on and apply penalties as soon as the grace period deadline passes.
Messy Maintenance: Include details about maintenance expectations in rental agreements and send tenant reminders for essential maintenance tasks.
Code Violations: Regularly survey your property to ensure you’re adhering to building codes and safety needs like smoke and carbon monoxide detectors and accessibility offerings.
Uncertain Utility Responsibility: Communicate utility responsibilities clearly in the rental agreement and double-check all meters are working correctly between tenants.
Tenant Turnover: Minimize tenant turnover by creating a stable living environment, repairing and updating appliances, communicating promptly and warmly, and respecting tenant privacy.
Security: Ensure your security system is up-to-date and fully functional before renting a property.
Common Area Conflict: Post expectations of use and sanitation to avoid conflicts over shared areas.
Security and Pet Deposits: Deduct costs and expenses for unpaid rent, repairs, cleaning, or storing tenants’ belongings from security deposits.
Property Damage: Conduct a property inspection with the tenant present during the move-in process and take preventative measures such as thorough tenant screening and regular property inspections.
Partnering with a Property Management Company
If you’re looking for an easy button to conquer all these common landlord-tenant issues, consider partnering with a property management company. Working with a property manager means you’ll have an expert in all the areas where you may lack experience, and many companies only charge a percentage of your profits, incentivizing everyone to earn more!
Property management can be unpredictable, but with these tips, you’ll be ready for what’s ahead.