Renting a property can be an excellent source of income for landlords, and a convenient option for tenants who don’t want the long-term commitment of owning a property. However, both parties can fall into rental pitfalls if they don’t take the necessary precautions. In this article, we’ll explore tips for avoiding rental pitfalls for both landlords and tenants.
- Screen Tenants Carefully: It’s essential to screen tenants thoroughly before allowing them to rent your property. This includes checking their credit score, criminal history, employment history, and rental history. You can also ask for references from their previous landlords to get a better understanding of their behavior as tenants.
- Have a Written Lease Agreement: Always have a written lease agreement that clearly outlines the terms of the rental agreement. This should include the length of the lease, rent amount, security deposit, pet policies, maintenance responsibilities, and more. Ensure that both you and the tenant have a signed copy of the lease agreement.
- Regular Property Inspections: Regular property inspections can help you catch any issues before they become major problems. This will help you maintain your property and avoid expensive repairs in the long run. You can schedule property inspections every six months or every year, depending on your preference.
- Promptly Address Maintenance Requests: When tenants report maintenance issues, respond promptly and fix the problem as soon as possible. This will show that you value your tenants and their comfort. Failure to address maintenance issues in a timely manner can result in tenant dissatisfaction, bad reviews, and even legal issues.
- Read the Lease Agreement Carefully: Before signing a lease agreement, read it carefully and make sure you understand all the terms and conditions. Ask your landlord or property manager to clarify any parts you don’t understand.
- Do a Thorough Inspection of the Property: Before moving in, do a thorough inspection of the property to ensure that everything is in good condition. Take photos of any damages or issues and inform your landlord or property manager immediately. This will protect you from being charged for damages you didn’t cause when moving out.
- Pay Rent on Time: Pay your rent on time every month to avoid late fees and possible eviction. Set up automatic payments or reminders to ensure that you don’t forget to pay your rent.
- Communicate with Your Landlord: If you have any issues or concerns, communicate with your landlord or property manager promptly. This includes reporting maintenance issues, asking for repairs, or requesting permission to make modifications to the property. Good communication will help build a positive relationship with your landlord.
In conclusion, both landlords and tenants need to take proactive steps to avoid rental pitfalls. By following these tips, landlords can protect their property and maintain positive relationships with tenants, while tenants can ensure that their rental experience is comfortable and stress-free.
What are the rights and duties of landlords and renters? That is the question I am answering today. So what we are talking about is when a person or a company rents property. This might be a home; it might be a condominium, an apartment, office space. There are all sorts of scenarios where real estate is rented to somebody. Now there is another example, which is like renting farmland, but we are not going to get into that too much today.
Landlords and tenants, who are also called renters, have certain legal obligations and legal rights. Think about it this way. The opposite of another person’s right is your obligation, and vice versa. For example, if the landlord has a right in relation to the renter, the renter has an obligation to not violate the landlord’s right and vice versa.
Okay, so let’s talk about what are the obligations, responsibilities, or duties that a landlord has. Well, first, they have to comply with the law that involves rental law, housing codes, and any other laws that apply to the relationship. There are probably a lot of laws. For example, you can’t discriminate on the basis of race, religion, etc. The landlord also has an obligation to do what the landlord said would be done in accordance with the lease or any contract. So whatever is in that contract, the landlord is obligated to follow.
All right. Now let’s look at the renter, also known as a tenant. What is a renter’s responsibility? Renters have to follow the law generally. So renters can’t destroy the property. They need to leave it in a habitable condition. Renters are not allowed to engage in illegal activity on the premises. Renters also have to do what they say they will do in the lease or any other kind of contract that exists with the landlord. If either the landlord or renter do not follow what they are supposed to do, and the other party is harmed, that is usually a proper basis for a lawsuit.
Now, different court systems handle rental lawsuits differently. Some courts have a housing court where all issues related to disputes between landlords and renters are handled. Other courts have these sorts of rental disputes right in the main court with all the other cases. So it’s important to meet with an attorney or contact your court if you are looking at taking action on something like this.
I am Aaron Hall. I am an attorney licensed in Minnesota. I represent business owners and entrepreneurial companies. I do this channel to educate business owners on important topics. So if you are interested in continuing to get more of this, feel free to like this video, subscribe to this channel, and if you want to go the extra mile and to get some additional free resources available, go to aaronhall.com/free. You will get access to a great PDF listing common legal pitfalls and then videos explaining how to avoid those in your business.