How To Manage Landlord-Tenant Relationship And Avoid Problems

Managing tenants will have problems no matter how good you are. Most tenants can be reasonable but you will still encounter some who are not in the long run. And although landlords and investors knows exactly how to handle unexpected situations however we can't really predict the outcome when it happens. And so it is important to manage the landlord-tenant relationships effectively.

• When tenants has given you notice unexpectedly be sure to handle this unexpected event. Now this may warrant anger and disappointment on your part at first. Don't get carried away! Think of better ways to handle the problem and be professional. Step back, evaluate the situation before meeting the tenant face to face. When you think you are calm enough to talk to the tenant then it's time to approach the tenant.
• Find out why the tenant is leaving. Start by asking the tenant of the real reason why the tenant is leaving on such a short notice. Finding out the reason will help you decide on what to do next. If this has something to do with cutting down their monthly rent then as a landlord and investor you may probably have the solution for this. Evaluate and see if you can offer some terms especially if this is considered a good tenant. If the reason has something to do with purchasing a new property, check out if this is already final and see if you can also offer some of your properties for sale.
• Security deposit. Once you established that your tenant is finally moving out, set a date to check out the entire property for final inspection. In your final assessment the property has no problem - okay, that's good. And so the next thing would be the subject of returning the deposit back. There's no question about it however, you have to inform your tenant that security deposit will be returned 45 days after. Because there is no telling if there is something wrong inside the house that you are not aware of during the final inspection. How are you going to ask the tenant to pay the damages when you already returned the deposit? So, it's important to wait and explain this properly. Fair enough?

Landlord-tenant relationships can be good or bad. And so it's vital to screen your tenant-to-be thoroughly from the very beginning to avoid issues. Do a background check on your own and find out their paying habits and records of any kind. You probably want to have tenants immediately especially if the property has been vacant for quite awhile. However, you have to keep in mind the importance of making sure that you get the right tenant from the very start in order to avoid stress, money and time.