Owning income property can be exciting but it is important that those in charge understand the basic legalities before entering an agreement. This protects both sides, as the details should be covered from the first contact. It helps to have as many landlord forms on hand as necessary so the prospective tenant may complete them.
Sometimes when ads are placed, the response can be overwhelming. By using a pre-screening prospect card, this will help the person who is showing the property filter who may be a possible fit. Another important factor that should be established early on is whether smoking is permitted on the property. The landlord may add a no smoking addendum to a lease in the beginning or during tenancy. This is to protect his physical property from possible damage and other liabilities.
Property owners need to know who is residing in the unit that may not have an application. If pets are allowed, it is up to the landlord to determine the conditions in a pet agreement. It should be copied and signed by both parties while tenancy is in effect.
When tenants are away from their unit for weeks at a time, they may want to lease to another party instead of pay rent. While this may seem practical, it is up to the property owner to create a sublease agreement for all three parties. This protects the property owner, as they may need information about the other party.
Landlords entering the property when tenants are away can be an uncomfortable issue. Although some feel it is their right to enter their property at any time this may be illegal. Presenting a notice to enter premises to the tenant may help clear up the confusion and work something out. This can also be done when the tenant presents a work order to be completed.
When the tenant demonstrates behavior that is offensive to others, the property owner presents a lease violation notice. This may be used to warn or is the next step to evicting a tenant if the matter continues. Landlords may also present a notice to pay or quit when rent is late. This is the first step to a legal eviction if no other arrangements have been made.
Though some of these matters are not pleasant, having a paper trail is necessary. Should the matter go before a court, it helps the judge determine the steps taken to resolve a problem. Anyone who regularly uses landlord forms will find that they have better control of their property.
Sometimes when ads are placed, the response can be overwhelming. By using a pre-screening prospect card, this will help the person who is showing the property filter who may be a possible fit. Another important factor that should be established early on is whether smoking is permitted on the property. The landlord may add a no smoking addendum to a lease in the beginning or during tenancy. This is to protect his physical property from possible damage and other liabilities.
Property owners need to know who is residing in the unit that may not have an application. If pets are allowed, it is up to the landlord to determine the conditions in a pet agreement. It should be copied and signed by both parties while tenancy is in effect.
When tenants are away from their unit for weeks at a time, they may want to lease to another party instead of pay rent. While this may seem practical, it is up to the property owner to create a sublease agreement for all three parties. This protects the property owner, as they may need information about the other party.
Landlords entering the property when tenants are away can be an uncomfortable issue. Although some feel it is their right to enter their property at any time this may be illegal. Presenting a notice to enter premises to the tenant may help clear up the confusion and work something out. This can also be done when the tenant presents a work order to be completed.
When the tenant demonstrates behavior that is offensive to others, the property owner presents a lease violation notice. This may be used to warn or is the next step to evicting a tenant if the matter continues. Landlords may also present a notice to pay or quit when rent is late. This is the first step to a legal eviction if no other arrangements have been made.
Though some of these matters are not pleasant, having a paper trail is necessary. Should the matter go before a court, it helps the judge determine the steps taken to resolve a problem. Anyone who regularly uses landlord forms will find that they have better control of their property.
About the Author:
Read my blog post for more on the importance of landlord forms and check over here for more information on owning rental property.
No comments:
Post a Comment