1. Put Everything in writing! Just because your new tenant is your best friend's brother in law, does not mean that you should not have a written agreement in place. An oral agreement means nothing and does nothing to protect you legally. Get it in writing!
2. Screen your tenants carefully! You want to make sure and run a credit report. If they can't pay other bills on time what makes you think you will get your rent every month. Verify employment (enough said) and check references from current and previous landlord's.
3.Make sure your potential resident has sufficient income. The last thing you want to do is set them up to fail. If they do not make at least 3 times the monthly rent in income you may need to reconsider renting to them.
4.Educate your resident from the very start as what your expectations are to avoid any miscommunications later on.
5.Check out your tenant's criminal history. This should be a no brainer.Past behaviors are often an indication of future behavior.
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ReplyDeleteThere are many facets to this profession, including managing the accounts and finances of the real estate properties, and participating in or initiating litigation with tenants, contractors and insurance agencies. Litigation is at times considered a separate function, set aside for trained attorneys. Although a person will be responsible for this in his/her job description, there may be an attorney working under a property manager. Special attention is given to landlord/tenant law and most commonly evictions, non-payment, harassment, reduction of pre-arranged services, and public nuisance are legal subjects that gain the most amount of attention from property managers. Therefore, it is a necessity that a property manager be current with applicable municipal, county, state and Federal Fair Housing laws and practices.
Radiant Electric is a great choice for Massachusetts electrical property management. Because electricity literally energizes a building in so many ways, it’s important to know that you have a team ready to jump in if that flow is ever interrupted. We work with you from the initial consultation to ensure that we meet your expectations and cover all the bases and that begins with the first electrical inspection of the property down to the periodic inspections and maintenance. As your electrical property manager, we want to get to know the location and building inside out. That way we’re prepared in the case that a problem arises and ready to handle any necessary upgrades and renovations down the line.
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