5 ways to avoid tenant problems from the start

Screen well: Although vacancy is always a concern, there are enough good tenants out there, you don’t need to accept the first one that comes along. It’s important to make sure they can afford the home, and they don’t have any prior issues with landlords, or the law for that matter. Use a company to run credit and background checks on your applicants. It’ll save you a lot of trouble down the line.

2.Make sure your property is rent ready: As a landlord, you have a responsibility to make sure your tenant’s living environment is appropriate. By thoroughly inspecting your property and making repairs before your tenants move in, you can limit the amount of issues throughout the lease term.

3.Have a plan for maintenance: No matter how well you prepare your property, there will still be repair needs. If the toilet overflows in the middle of the night, you’ll need to have a quick solution. By having a good network of trusted vendors, you can be johnny on the spot before problems get worse.

4.Make sure you have a well written lease that protects you and your property: The rules and expectations regarding rent payment, security deposits, pet policies, repairs, etc. need to be very clear and in writing before your tenant moves in. This protects you from legal action, and gives you recourse should the tenant violate the terms.

5.Hire a trustworthy Property Management company! : Because “Ultimately, true passive income can only be created by acquiring assets that generate an income entirely independent of the input of time, money or energy of the owner." (real estate investor magazine) Good property managers will do all of this for you, they’re well versed in state and federal landlord tenant laws, they’ll field all repair calls and fix the issues for you, they’ll market your property and make sure you get quality tenants as quickly as possible. Being a landlord is a big undertaking, but with the right manager, it can be really easy.