How to Manage a Real Estate/Property - 3 Basic Rules to Communicate to Your Tenant

-



It is not all that rosy when you have to deal with the tenants. An entirely new acquaintance, background, ethnicity, culture, etc. are bound to crop up between you as landlord and the tenants.

But it is imperative that you have to make few things clear to him or her before you sign the agreement and hand over the key. That is to avoid risky, dumb, or dangerous situations at a later stage.

What you want

You have to be specific on the rent and the amenities charges along with the time frame to pay. In the case of any advance required that can be specified. Your tenants should keep the place neat and tidy along with proper garbage disposal. No damage to the property, the structure shall be permitted. The tenants should maintain the place within the allowed decibel level.

Things the tenants should not do

They should not indulge in unlawful activities, trafficking, gambling, etc. No abuse of the property shall be allowed. Any modification, antenna fixing, and cabling, etc. should be done with explicit permission. No subletting shall be authorized.

Legal aspects

You are expected to put all the terms and conditions from a legal point of view in black and white so that you can take legal remedy when it is called for. That should include compensation for their wrong doings and even evictions. You should not be blocked when the inspection is required. 

Considering all these factors will help you choose the right tenant for your property and hopefully save you time and money by avoiding costly exclusions, non-payment and damage to your property.

Comments

Post a Comment

Popular posts from this blog

360 Degree Insight: A Must-Have In Property Management

-
Image
Every prospective property seller has his own combination of doubts and fears: Is my property saleable? Will it fetch more than the purchase price? Does it have any standing in the market? Does it live up to all the latest health codes? Property traders and experts swear that such apprehensions are completely normal. In fact, keeping oneself on his toes before the sale of property may actually ensure that the seller is extremely vigilant about each step of the trade. The best way to stay ahead of the game is to have a roundabout, complete knowledge of the kind of market you are about to enter. Basically it entails acquiring a firm knowledge of the current real estate prices, the latest housing norms, market scenario, etc. Know the rates: People trading in property commercially, more often than not, seek professional advice from real estate consultants and advisors. But that is not a sound advice for just businessmen. Even individual property owner can seek advice f...
Read more

Commercial Property for Sale – Investment Option for Lucrative Future Returns

-
If you are looking for a good investment opportunity, then buying a commercial property can be a really lucrative way to enjoy your future returns. Commercial property investments are good option because it provides more profit, rather than stocks and share prices. If you are willing to put some time and effort into your investment, this can generate a wealth of profit.  The key to your investment will be the houses and land that you choose to purchase and the price that you buy for. It will be important to search property for sale around the local area and have a look at previous house prices for the area you wish to buy in. As a general rule of thumb when looking at homes to buy, you need to ensure it's in an area where you can make profit against the price that you paid for the property. Check online for average rent and house prices in the area, take a considered look at the property you are interested in and decide if this is the perfect sale for you. With many of t...
Read more

Benefits Of Flat Sharing In London That Will Amaze You

-
Image
Living in London on your own can become a tedious task in itself, especially if you are not earning an exceptional amount of salary per month. In such case, you can consider the idea of flat sharing. Flatshare is a general term that is specifically used to describe most shared accommodation and rental properties. Recently, the concept of flat sharing has become much more common practice in the larger cities of the UK such as London and Manchester where the cost to buy or rent a property and associated costs and utility bills are very high. Pocket-friendly: One of the major benefits of flat sharing is that it suits your budget really well. Flat share is extremely beneficial for those people who are single as they only have to pay for a single room rather than remunerating for the entire property. This means that you will be able to afford a larger apartment than you could if you were living by yourself. Increases your Social Skills: In case you are new to a city ...
Read more