Most of our clients at Zabace Property Management Company want to know how we are going to protect their properties from tenant damage. There are several different ways that we ensure your investment property is protected while we are managing it.
A security deposit is a good way to protect your home from tenant damage. You never want to allow a tenant to move in without a security deposit up front. All funds need to be cleared in advance. This means you can require a cashier’s check, or if you’re taking a personal check, collect it between seven and 14 days before they move in so you know it will clear the bank.
In addition to the security deposit, there are other things to pay attention to. Inspections help protect against tenant damage, and you have to make sure you give your tenants enough notice. Some landlords assume they can always go into a property with 24 hours notice. The reality is that there are specific rules that dictate when you can go in, for what reason and which parts of the property you can inspect. Make sure you put your inspection procedures in your lease. State whether you will do a bi-annual inspection or an annual inspection so tenants know what to expect.
The most important thing you can do to protect your property is to have a good tenant relationship in place. Work with your renters. Most tenants don’t want to damage a property. They might just need some assistance or maybe things are getting away from them. Be willing to work with them and communicate with them. If you see an issue, talk to them about it and discuss how to take care of it. Follow up with them to make sure everything is in good shape. Personal communication goes a long way in avoiding additional problems down the road.
If you have any concerns about tenants damaging your property or you’d like additional information, please contact us at Zabace Property Management, and we’d be glad to help you.