“Always protect yourself with renter’s insurance.”A tenant’s or guest’s personal property and vehicles are not insured by a landlord, manager or an HOA against loss or damage due to fire, theft, vandalism, rain, water, criminal or negligent acts, or by any other cause.
How Doors screens our owners' tenants…
We have the tenants fill out a rental application for each adult. We require a copy of their driver’s license and proof of income – last two payroll stubs and/or last two summary pages of bank statements. The tenant screening report we receive includes a search for the following:
We gain a picture of prospective tenants’ background history through this screening. Want to learn more? Give us a call @ Doors 760-602-0221.
Hello. For our first blog post we are sharing a slightly digested version of the collective wisdom of the Forbes magazine, Real Estate Council on the subject of tenant relations published earlier this month.
Our owner and tenant client relationships are paramount to us, and our professional and personalized approach is a real strength of Doors' management services. If you would like to talk about how we cover ALL 10 "things' below, give us a call.
-The Doors Team
by Forbes Real Estate Council
Investing in rental property can be highly rewarding if successful, as it can help build your net worth and make a profit by generating a steady monthly income. This type of investment takes work, however, with landlords having to worry not only about finding the right property but also about maintaining it, making it attractive for potential tenants and finding suitable and trustworthy renters.
All experienced landlords have their share of tenant horror stories, ranging from dealing with unruly renters to facing significant property damage, but with a proper screening process in place, most problems can be avoided. Establishing a professional, positive relationship between landlord and tenant can help the former obtain a solid return on investment and the latter achieve a higher quality of life. Below, 10 real estate experts with Forbes Real Estate Council share some of the most important things any landlord should remember to improve their tenant relations.
Keeping good lines of communication open can solve many landlord/tenant problems. Make sure tenants understand why things are happening, and give good advance notice for anything disruptive. - Jeremy Brandt, WeBuyHouses.com
2. Tenants Are People, Too
Home is where the heart is, and supporting people as they create a home is a gift. Realizing you are part of impacting the social/emotional environment for others, brings a humanitarian vibe to a traditional role. - Susan Leger Ferraro, Peace, Love, Happiness Real Estate
3. Boundaries And Limitations
As our investment platform scaled, we noted the variation of landlord-tenant laws. We found it essential to understand the legislative dynamics of the community by partnering with local experts to mitigate our legal exposure. - André Bueno, The BM Group
4. Being Approachable
From landlords, I hear that tenants don't tell them about repairs until they are really bad. From tenants, I hear they don't want to call because they don't want to bother the landlord or are afraid. Be approachable. Be supportive of you tenants. One way we can help landlords have better tenants is teach tenants about maintenance. - Michelle Ames, HorsePower Realty/Realty Executives Metroplex
5. Trust Is The Key To A Better Relationship
My company was born from my own awful renting experience when I was pitted against other potential tenants in a bidding war. Renters who have a poor experience leasing their home are more likely to churn from their lease. Landlords should make sure they build trust in the leasing phase. - Anthemos Georgiades, Zumper
6. Better Protocol
Horror stories typically boil down to horrible tenants, right? However, it is incumbent upon the landlord or property manager to have a proper, thorough and strictly held vetting process for which to qualify the people who will be occupying your investment. If you're allowing just anyone, the nightmare began before the lease even started; you just didn't realize it yet. - Tracy Royce, Royce of Real Estate
7. The Little Things
I've come to the conclusion that succeeding as a landlord comes down to doing the little things on a consistent basis. Little things such as a move-in package, responding quickly to maintenance requests and being pleasant can be the difference between a tenant that will want to stay and pay and one that won't. - Engelo Rumora, List'n Sell Realty
8. Careful Lease Review Before Signing
Many people sign documents without thoroughly reading them. Although it is not your job to hold your tenant's hand through committing to the terms you have laid out, if you take the time in the beginning to make sure they understand and are willing to comply with all the terms, there will be fewer surprises later on and less chance of conflict. - Hillary Hobson, Highest Cash Offer
9. Tenants Are Clients
Every landlord should remind themselves that tenants are their clients. They're also trusting those clients with a very valuable asset. It's best to be respectful, communicate openly and professionally and take care of tenants so they take care of the rental property. A landlord's behavior influences the tenants' behavior. - Dave Zirnhelt, Snap Up Real Estate
10. Having A Property Manager
I own a property management company that collects rent, handles tenant requests/repairs, takes care of everything from A-Z. Take the stress off your shoulders as the landlord and let a professional handle the "dirty" work for you. Let us be the "bad" guy, while you vacation in the Bahamas with friends. The less you interact with your tenant, the better your relationship will be with them. - Angela Yaun, Day Realty Group