A good lease will have terms that require the tenant to notify the landlord immediately when any leaks or hazards are observed, and it will hold the tenant liable for damages that occur as a result of the tenant not notifying the landlord (for instance, if a toilet were leaking and flooding the bathroom, and the tenant didn't notify you for 5 days, and all that water seeped into the subfloor and caused rot and mold, you could potentially hold the tenant liable for their negligence--and have them pay not just to fix the toilet, but also to fix all the damage that could have been prevented if they had notified you quickly).As for your question about renewing their lease...This partly depends on whether you feel like they were negligent...for instance, if the water heater leak was easily observable, and you think they were negligent in not notifying you quickly, then that suggests they'll continue to be negligent and incompetent in the future--which puts you and your property at risk (a tenant who is so negligent that they don't report an obvious water leak is probably also negligent enough to leave the stove on, leave the doors unlocked, ignore fire hazards, etc., not replace smoke alarm batteries, etc.).   

When I arrived I collected the key and found the door to the unit unlocked with all of the tenant's personal items still in the unit (and a bit of a mess). 

Your money is tied up in equity in your property that is hard to unlock. 

Finding out what you’re good at can help you unlock your greatest asset.

Hi all,I have a duplex in San Diego, CA.  Approximate numbers are $500K bank debt,  $800K ARV,  63% LTV.  It's a rental & I don't want to sell.I called PenFed about a HELOC, but they won't underwrite it because I ...

Heard of someone trying to charge $25 to show a property because he was out of state and had to hire someone to go unlock the doors but even that I think is ridiculous as it will cut off a large pool of buyers. 

The only time I heard someone got their TV's jacked was from using a cleaning partner they sourced on their own that allegedly "Left the doors unlocked" and all the TV's got stolen, during the set up phase before they had any bookings.

@Lisa Anderson I agree there is great need for Homeowner Consultants throughout the US.Starting a builder/contractor review website or social media pages is a great idea.Past customers of builders/contractors would post pictures and commentary added by the consultant as part of the posting/review.What stops you from selling current property ( unlock appreciation)at 550k and building a STVR duplex?

Clearly a very brief skim before the urge to unlock your word-hoard overwhelmed your feeble defenses. 

This will also let her unlock depreciation though so it's not a bad thing.And if she wants to gift back the rent to you she can do that under the regular annual limits or by accessing the lifetime gift limits.Stay tuned.