Consistency will 99% of the time reduce tenancy issues and enable you as a property owner to enjoy managing your property.
(PRWEB) October 21, 2012
To ensure your property has less issues throughout its tenancy, Aaron Clancy from Rental Managers, recommends that you follow several basic principles.
Firstly, it is important that a thorough credit and reference check is carried out to ensure that the tenant is going to be a suitable tenant when it comes to looking after the property and paying rent. Do this step correctly and property owners will dramatically reduce any issues they may usually encounter during a tenancy. As Aaron states, "By carrying out a credit and reference check first, you help reduce that risk and uncertainty that new tenants can bring when putting them into your investment property."
When managing your property, it is also important that landlords are consistent when managing their property. Being consistent will result in a smoother tenancy. Landlords need to be consistent with their rent collection, maintenance and inspections. Tenants want piece of mind when tenanting a property, and as a landlord, it is important that you provide them this.
Finally, Aaron explains why rent recording is vital when managing your property investment. When a tenant goes to leave a property they may ask you what is their last payment date and amount. Unless the landlord has been accurately recording this during the tenancy, the landlord will need to go through all the rent records and work it out. Utilising a simple spreadsheet that you fill out each week or month will stop any issues arising.
By utilising a property manager, they will use software for collecting and monitoring rent, but also for carrying out inspections and maintenance. Property management can be done by landlords who own property, they just need to ensure that they put the time in to provide a great service to the tenant. As Aaron says "Consistency will 99% of the time reduce tenancy issues and enable you as a property owner to enjoy managing your property."
Find out more about credit checking, being consistent and rent collection at Rental Managers blog.