Having expert advice can mean the difference between enjoying your monthly rental revenue and feeling like renting out property is the worst way to earn money. Too many rental property owners find themselves stuck in awful situations that create confrontation with tenants, drain resources, and even end up in court. Here are some of the areas where rental property owners often make mistakes.
Downloading a lease template off the internet is NOT a good way to set up your rental agreements. Your lease contracts must do four things:
Only a legally binding lease agreement will hold up in court. But it’s far better to stay out of court. That starts with choosing the right tenants in the first place.
Are your tenant screening processes fast and effective? Even more important, are they legal? We know what systems to put in place to help you find the right tenants and reduce the chances that they will skip out on rent or trash your property.
Treating tenants well is a great way to increase the chances that they will renew their agreement. But it takes a lot of effort to keep up with tenant requests for repairs and service. Being a landlord and handyman 24/7 isn’t the answer. There’s no shame in asking for help to manage this process. For example, we can help point out ways to upgrade the property and reduce the need for service calls.
Sometimes, things go wrong despite your best efforts. When that happens, things can quickly spiral out of control. Legal fees, frustration, and resentment all take a toll. We may have insights on how to resolve conflicts by settling out of court. Sometimes, it’s a simple as changing how you communicate with tenants.
Real estate investments can make or break you financially. Whether you are buying or selling, we can provide key knowledge and expert advice that helps you make smart decisions. We can also negotiate on your behalf to make the best deal.
Do you have questions about any aspect of buying or managing rental properties? We’d love to share our expertise with you. Contact Ardent’s experienced team today to get answers.