Landlords: Ten Useful Property Management Tips – Part II

As we continue with simple but useful suggestions for owners of rental property to ensure the smooth running of their rental business, including managing their property like true professionals, landlords must as under:

1. Proper Handling of Security Deposits is essential, and for that landlords must establish a transparently fair system of collecting, holding, and returning security deposits. One way of ensuring that the security deposit amount is fair and just, is to make a thorough inspection of the rental unit, while documenting its condition, before the tenant moves in, in order to avoid disputes over security deposits when he / she moves out.
2. Repairs must be made when requested so as to stay on top of the maintenance game. If, you fail to keep your rental property in good repair, you will not only alienate good tenants, but also give them the right to withhold rent, carry out repairs on their own, the cost of which they are legally entitled to deduct from the rent, or sue for injuries suffered due to prevailing defective conditions, and / or they may move out, thereby terminating their lease or rental agreement, without any legal requirement on their part to give notice.

To be successful in the rental business, you not only have to ensure you follow all rules and regulations governing the rental business, but you should also make tenant screening a part of your business strategy. A quick click of the mouse and you can visit www.e-renter.com for professional help in screening prospective tenants!