well as to keep the whole property in good, working order.
If you have any emergency issues, deal with and fix them as quickly as possible. If the tenant is responsible for causing the damage, collect the money from them to pay the cost to repair that damage. Most landlords collect right away. If the tenant causes some damage to the property, and it costs $200 to fix, but they can’t pay it immediately, then add that $200 to their next month’s rent payment. If the tenant doesn’t pay the amount due, then enforce your fees and penalties and, if necessary, file for eviction in a worst-case scenario. (Keep in mind that involving lawyers might not be worth it for a $200 charge because of lawyers’ and court- related fees that will cost much more than this.) Whenever you need to do repairs, shop around, if necessary. Get plenty of quotes from different contractors and companies to find a reasonable rate. You’ll also want to screen them to ensure their credibility, reputation, and skills. Make sure they’re certified and licensed, and ask for references. Once you find contractors and tradespeople whom you know you can trust, and who are reliable and affordable, be sure to cultivate strong relationships with them. The goal is to create a list of local contractors, tradespeople, and businesses involved in all aspects of home maintenance, such as construction workers, electricians, plumbers, renovators and remodelers, painters, roofers, bricklayers, and other contractors and tradespeople. Their expertise can be invaluable, and having them on speed dial will make dealing with issues much less stressful.
Conduct regular inspections.
Make sure the property is being well-maintained, check for any
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