There is a great deal to learn about the real estate investment business. While everything can look great about your investment property on paper, dealing with people is not so cut and dried as working with numbers. Whatever you do, do not skip any step in screening tenants, especially checking references and contacting previous landlords. Even with the most up-to-date and thorough screening processes, landlords can expect even the best tenants to cause some damage to the property.
Tenants are the lifeblood of your business plan, and you must understand what kind of trouble you may face if you lack previous property management and don’t have strong people skills. By taking the time to understand the consequences, you will know where to focus your time and energy, and resources to avert damage to your investments before it ever occurs. Read on to discover what to do if your tenants cause damage to your Reno rental property.
The first thing you need to do if your tenants cause damage to your Reno area rental property is to carefully examine the rental unit to determine the cause of the damage. Unfortunately, accidents sometimes do happen; even the best of tenants may cause unforeseen damage that goes beyond the normal wear and tear that is a part of the expense of owning rental properties. Other damages can occur when tenants fail to maintain their housing correctly. And while dealing with the repairs is a necessary part of rental property management, landlords could prevent damage from angry tenants for tenants.
Once your tenants cause damage to your Reno rental property and you have determined the cause, you will need to take steps to ensure the tenant pays the repair expenses they are responsible for following the terms outlined in the rental agreement. Often landlords deduct the total costs for such damages from security deposits at the end of the lease agreement. If the damage is extreme, you may need to take legal action against the tenants. Should your attorney or insurance company request the information, you will require photographic evidence and documentation of the damage and keep any estimates and receipts from the repairs.
If your tenants continually cause damage to your Reno rental property, you should examine your property management skills and responsibility in maintaining tenant communications. For example, tenants may learn that you simply do not respond to their calls, causing minor problems to become significant damage. Middle-of-the-night phone calls and disputes over parking spaces can become irksome, but these little things matter more than you may realize. Building solid relationships with tenants can help avoid issues with deliberate damage and help maintain the integrity of your property.
Working with the right property manager makes it easy to be a landlord. However, if you have gotten to the point where you are done with tenants causing more damage and issues, why not reach out to Envy Property Solutions, LLC? We want to help you find the best solution for your situation. Whether it is to sell the home in as-is condition or to find a top-notch property manager. Reach out to us at anytime ant (775) 391-5236 or you can get started by filling out the form below.