Clagett Enterprises helps landlords manage properties like pros.
Managing a rental property is not as easy as it looks. While homeowners must journey through home maintenance themselves, landlords of commercial, industrial, or residential rentals must cooperate with those working or living in the rentals. What are some key tips to manage a rental property well?
Understand Landlord-Tenant Laws
Even with a professional property management company by your side, it is worth learning local landlord-tenant laws so that you can readily comply with them. You will need to understand these laws in order to manage the property in a way that doesn’t invade tenants’ rights and privacy.
Screen Tenants
You might not have thought about it this way before, but choosing who is allowed to rent out your property is a part of maintaining it. The tenant will be directly responsible for some aspects of property maintenance, such as keeping it tidy, clean, and as damage-free as possible. A good tenant will also help the landlord or property manager by sending a notification about a maintenance need.
Make Responsibilities Clear
Tenants and landlords have distinct responsibilities for taking care of the rental property. When these responsibilities are not clear, it can be detrimental to the building, the tenant’s quality of business or life, and the landlord-tenant relationship. As the landlord, it is your job to make these expectations clear from the start through the lease.
Conduct Regular Inspections
Routine building inspections are normal for rentals. Inspections ensure that tenants are taking care of the property well and that the building overall is in good shape. As long as you follow local laws regarding rental inspections and take detailed records, you will be able to use inspections to you and your tenants’ advantage.
Maintain the Property Diligently
Less-than-ideal buildings are one of tenants’ biggest complaints, and property managers who fail to fix building issues promptly make matters even worse. Even worse, some landlords might try to blame the tenant to avoid paying for maintenance themselves. A fair and prompt approach is best. Your tenants will be happy, and you can benefit from more business in the future.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.