Landlords: Ten Useful Property Management Tips – Part V

Just a couple more tips for owners of rental property, and without a doubt, if you follow our simple suggestions, the smooth running of your rental business and property management is a foregone conclusion.

1. A well-designed property insurance programme and sufficient liability must be purchased by landlords as a safeguard against lawsuits instigated by tenants for injuries suffered or for being discriminated against, or for rental property losses and damages caused by either, fire, storms, burglary or vandalism.
2. It is also essential that all landlord / tenant disputes be resolved, without resorting to unnecessary and expensive litigation. Any conflicts with a tenant over rent, repairs, your access to the rental unit, noise, or some such issue not warranting immediate eviction, should be settled in an informal manner by meeting with the tenant for working out the best possible solution. In case, that does not work, the next best thing is to consider neutral third party mediation, which is available at little or no cost from publicly funded programmes.If, the dispute is about money, and any attempts to reach agreement fail miserably, it would be worth your while to try a small claims court, where you can represent yourself. Small claims courts are useful for collecting unpaid rent or compensation for property damaged by a tenant, whose security deposit does not cover the extent of the damage.

To prevent undue hassles, the best solution for any landlord is to screen all prospective tenants, carefully. Visit www.e-renter.com for tenant screening and background checks.