Vancouver, BC -- (SBWire) -- 09/07/2016 --Nobody buys an investment property wanting to face the reality of dealing with problem tenants. In fact, it causes some individuals such apprehension to the point that they end up not even purchasing the property at all. But fretting over the outcome of a relationship that may turn out bad is no reason from adding considerably to one's quality of life when there can be measures put in place to avoid an undesirable interaction from transpiring or – at the very least – have a competent way of handling unavoidable instances. After all, with the myriad of amazing benefits that can come from owning real estate, it's not worth it to let one small thing stand in the way.
Of course, one of the best ways to prevent a problem tenant is to be an engaged landlord that deals professionally as well as respectfully yet firmly. Always ensuring that issues are resolved quickly and continually finding ways to make the property a little better for the tenant can go a long way. This could mean installing electric garage door openers or just having the gardens landscaped in the spring. Small gestures such as these can really help strengthen a relationship with a tenant and make them feel comfortable in approaching their landlord.
This being said, there are a number of more general preventative measures that can be taken in securing the most ideal situation possible when it comes to investment properties and their occupants.
Receiving payment for rent is, of course, the top priority for a property owner. However, taking a hard line approach is not always best. Some situations, such as a tenant simply forgetting rent is due, can be resolved with a simple phone call. Other circumstances, however, may require further action. For example, if a tenant falls under hard financial times, consider giving them a payment option to work their way back into good standing. If the problem persists and they don't fulfill their part of the arrangement, further action should be taken. However, avoiding legal action when possible can save a landlord tons of money and that is why taking small steps to resolve the issue through firm, yet understanding contact is the best initial route to pursue.
Another essential aspect of an owner's property is the actual property itself. Regular inspections by a professional just to ensure upkeep and overall sanitation of the property is something that pays off in the long run as huge costs can be incurred from just one unit that is let go.
Along with having regular inspections carried out, it's important to be in touch with tenants as well as neighbors. Coming by the grounds in person and having chats can go a long way in being familiar with the different personalities, temperaments, and issues that are unique to each and every individual on the property. In the event the tenants have problems with one another or with the facilities themselves, it makes it far easier to know how to deal with the situation given the familiarization that has already taken place.
The knowledge gained from having conversations and getting to know those renting the property can also lend aid to issues that might otherwise not be noticed such as subleasing. Assuming a tenant thoroughly reads let alone adheres to what is outlined in lease agreements is a naïve move. Although tenants don't need to feel like there is a constant inquisition at hand that they are the victims of, the relationship of landlord to tenant still needs to be clearly understand enforced/followed.
Finally, in the worst case scenario of an eviction, following the law 100% is essential to both winning a case and not coming out losing tons of finances in the process. More details on this and the tips outlined above can be found at Bolld Real Estate Management's Website.
Many property owners, in facing the prospect of dealing with problem tenants and the myriad of issues that come along with it, are inspired to work with an experienced property management company to save themselves a great deal of time, energy, and money.
To learn more about Bolld Real Estate Management, visit their website today.
About Bolld Real Estate Management
Bolld Real Estate Management is an independent licensed rental management company with property managers with years of experience in rental property management. They live, breathe and eat rental property management and their entire focus is on maximizing clients' investments. Their advice is always well informed and independent. Bolld was founded on the principles of trust, innovation and reliability. They facilitate the use of modern-day technology to its fullest extent and to maximize the value of their services.
Bolld Real Estate Management is here to help. Bolld offers efficient and affordable property management services. Click here for an instant quote.
www.bolldpm.com
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