The relationship between a landlord and his tenant can sometimes be uneasy. Just ask the average unhappy tenant and he will most likely tell you that his landlord’s sole ambition is to rip him off and make his life as difficult as possible. On the other hand, an unhappy landlord tends to view the situation somewhat differently and feels that no matter how much he does for his tenant, there are always problems, and always reasons to delay paying the rent.
It is essential that the landlord be courteous, respectful and professional at all times when communicating with tenants, as well as tenants with landlords. This will reduce the likelihood of frustration or animosity arising when negotiations for a lease renewal are due or the parties need to discuss a problem or a need.
Disclaimer: We are not attorneys and we are not giving legal advice. For legal advice and/or questions please contact an attorney.
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1. Is rent by the room an emerging trend?
No, rent by the room has been around for quite some time. we often do have landlords reach out to us to help fill a vacancy, or because they’re having issues between roommates. By doing individual liability leasing, you’re opening yourself up to a whole lot more stress and complications with having to keep track of each individual person’s lease agreement. By doing joint and severally liable leasing, you’re able to have more control over the situation by having just one lease to keep track of.
2. What should I consider when investing in a rental property?
There are lots of factors to consider when looking at purchasing an investment property. As far as the property itself goes, it’s really important to consider the property’s location, the size of the home, and the overall condition and finishes as well. Properties that are not updated or in great condition should be updated so that they will rent faster and for higher rental rates.
3. What questions can you not ask potential tenants?
What questions can you not ask potential tenants? You cannot ask them about their familial status, if they have children, their political affiliation or even sexual orientation. You must refer to the fair housing laws. You cannot deny housing based off of any of those criteria, so it’s really important that you look at both the federal, the state and the local level when it comes to fair housing.
4. How can I make my rental property more attractive?
There are several updates you can do to a rental property that can make it more attractive. For starters, you can do fresh paint all throughout and new flooring. This will make a huge impact. Additionally, kitchens and bathrooms are the places where the most value is added. You can update kitchen appliances, counter tops, cabinetry, as well as other fixtures in the bathroom. New lighting can go a long way as well.
