Many people show interest in investing in real estate or constructing new properties to earn by renting it out, but they often decide against it because of the problems affecting the relationship between landlords and tenants.
The tenants have to face several problems with the landlords when they rent some space, but this is a two-way situation. The landlords are not always the ones creating issues; sometimes it is the other way round. Finding good tenants is as difficult as finding a good apartment catering all your needs. Despite following all the rules and regulations and undergoing all the formalities, landlords still have to certain issues. Thankfully, you can go to http://tpmbuilders.com.au/, one of the best places to find help for construction and dealing with issues related to tenants.
Here we are discussing some of the problems that landlords encounter:
- Nonpayment Of Rent
Nonpayment or delayed payment of the rent is the most common problem that the landlords have to encounter. Some tenant refuses to pay rent and some delayed it for no apparent reason. This issue is a continuous headache for landlords. They have to do several visits to the tenants and continuously ask them to get their rent paid.
Usually, there is an agreement that is signed by the tenants at the time of the lease. They are bound to pay their rents by a certain date as mentioned in the agreement, but some tenants ignored it completely and failed to pay their rent for months. To resolve this issue, you have to issue a notice to your tenants asking for payment or for vacating the space. If they pay you afterward, it’s good for both of you but if they kept on ignoring your final option is a legal action. Issue your tenants a legal notice for leaving your space and let the state law dealing with them if they still don’t respond. Try to get your matter resolved before the final legal action for it will cost you a good sum of money to deal with the case legally and to hire a lawyer.
- Violation Of Lease
Violation of lease agreement is another common problem of the landlords. Some tenants are real troublemakers and often intentionally and sometimes unintentionally violate the terms of using the space. They either create issues for the neighborhood with their actions or make changes in the property without the permission of the landlord. In some cases, parts of the rental unit are also damaged by the tenants.
To deal with the issue, your lease agreement plays a vital role. If all the terms and conditions are clearly stated in the agreement along with the consequences, the tenants have to bear in case of violation you are on the safer side. In the first place, issue two or three notifications to the tenants at certain intervals notifying them about the violation of the agreement with proper references. If they fail to respond take these notices along with the agreement for legal action. If you have fulfilled all the legal requirements, you are most likely to get the court verdict in your favor.
- Threat To Neighborhood
Trouble making tenants are not only difficult for you to handle but they are also problematic for the neighborhood. They trouble other people of the area by their actions. Either they don’t play their civic role responsibly or perform actions that are against the societal norms. The cutting the lawn, cleaning, and making repairs as necessary. You can also lower your risk of tenant turnover by renting to tenants who are likely to stay in your property for a long time. If a prospective tenant has a history of staying in one place for a year or less, you may want to hold out for a tenant who is likely to rent long-term. Tip: For a more detailed guide on reducing costly tenant turnover, check out this blog post. 2. Late rent payments. Constantly dealing with tenants who don’t pay on time can be incredibly frustrating, especially if they’re repeat offenders. If that situation sounds all too familiar, consider trying these ideas to improve your chances of consistently collecting rent on time: Strictly enforce your rent collection rules Follow up with tenants as many times as necessary to collect rent Screen tenants thoroughly so you can choose those who are likely to pay on time every month Tip: For more ideas on how to get your tenants to pay rent on time, check out this blog post. Rent Past Due Notice in Montgomery County 3. Legal trouble. Learning all of the laws that apply to landlords may seem like an overwhelming task, but you must do it to avoid legal trouble. Take the time to study the federal and state laws that apply to you. And don’t forget to look up your local laws too – some Montgomery County landlords must adhere to different rules based on the specific city their property is located in. For example, the cities of Gaithersburg,Rockville, and Takoma Park require you to adhere to certain licensing laws, while Barnesville, Garrett Park, and Laytonsville do not. Although learning laws can feel like a daunting task, you’re not in it alone! If you’re struggling, consider joining a local landlord association so you can network and get the support you need. 4. Staying organized. Landlords deal with lots of paperwork. If you’re not careful, that paperwork can easily become disorganized. Not only can this cause you daily stress – you may find yourself in legal trouble if you lose an important document! Stay organized by following these tips: Create a logical filing system and stick to it – Whether you decide to organize your files by tenant or by property, make sure everything is filed neatly and your process is consistent. Avoid leaving stacks of paperwork on your desk – If you pile up paperwork, the stack will keep getting higher until you’ve completely lost track of multiple documents, so make sure you file your paperwork as soon as you’re done with it. Keep digital copies of documents whenever possible – It’s easy to lose papers, but it’s almost impossible to lose something stored in the cloud! Consider purchasing online storage for extra peace of mind in case something happens to the physical copies of your documents. While a busy day might tempt you to simply toss paperwork down on your desk, always keep in mind that being organized will help you keep stress at a minimum while staying profitable! 5. Frequent evictions. An eviction can be a stressful, costly process. Instead of dealing with the blow to your financial and mental well-being that frequent evictions can cause, try these 3 proactive ways to avoid them: Improve your screening process. One of the best ways to avoid evictions is to screen all tenants thoroughly before placing them in your property. That way, you can feel confident knowing that each tenant you rent to is unlikely to be evicted. Here are a few actions you must take as part of an effective screening process: Check the tenant’s credit. Perform a criminal background check. Get references from a tenant’s previous landlords. Tip: For more detailed screening advice, check out our recent blog post entitled 9 Red Flags to Watch Out for in Potential Tenants. Create payment plans. Even your best tenants may unexpectedly fall on difficult times. That’s when you may want to consider creating a payment plan for them so they can pay their rent. After all, if they’ll adhere to your payment plan rules, you may find keeping them around to be more beneficial than dealing with the costly eviction process and having a vacant property. Just make sure you don’t lower the rent amount owed when you create your payment plan. Otherwise, word could get out that you are willing to lower the required monthly rent amount, causing your other tenants to request discounted rates. Build healthier tenant/landlord relationships. If you don’t communicate with your tenants consistently, it’ll be easy for them to avoid you and stop paying rent without feeling bad about it. So, make sure you reach out to tenants on a regular basis (without being intrusive, of course) and listen to their feedback. That way, you can be more proactive about preventing problems instead of always being reactive when things have already gone bad. how-to-build-healthy-landlord-tenant-relationship-maryland-1 6. Excessive stress over property management responsibilities. Let’s face it – property management is a critical part of being a landlord, but it certainly isn’t easy. You have to screen tenants, collect rent, deal with complaints, keep your tenants happy, and more. All of these tasks can take a toll on any landlord, especially those who would rather not deal with stressful property management tasks. If that sounds like you, consider hiring a professional property management team like Bay Management Group. We help landlords in Montgomery County and the surrounding areas with leasing services, maintenance, rent collections, evictions, and more. Interested in learning how we can help your landlord business? Contact our team today. Owning a Rental Property in Maryland, Property Management, Property Management in Maryland, Property Management in Montgomery County, Tips for Landlords, Tips for New Landlords, Tips for Property Managers common landlord issues, common problems for landlords, how to deal with late rent payments, how to reduce tenant turnover in maryland, how to solve landlord issues Leave a Reply Your email address will not be published. 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Please follow the instructions at http://support.heateor.com/browser-blocking-social-features/ to unblock these.” target=”_blank” rel=”nofollow noopener noreferrer”>landlord has to listen to the complaints now and then due to their tenants. Some tenants are also involved in unethical and illegal activities and become a threat to the neighborhood.
In these situations, you have to ask for the legal assistance and have to get your space free from such people. The residents of the area can also lodge a legal complaint against such tenants and help you in getting rid of them.
Renting your property can generate good revenue for you but becoming a landlord is not easy. It is a tiring task, and you have to deal with many issues if you get a bad tenant. You can save yourself from losing your property by making strict lease agreement and follow it without any leniency.