and address them, as necessary.
HANDLE MAINTENANCE AND REPAIRS
Next, make sure the property is well-maintained and that any and all repairs are handled. The important thing to remember here is to address and fix property damage issues as quickly as possible. Let’s say that a pipe is leaking water into your house—you want to get that fixed ASAP. Water is one of the biggest causes of damage for properties. Water can cause mold, drywall problems, wood rot, and more. Get the repairs done, as soon as you can. Further, make sure the property is kept in good shape. Broken windows, broken locks, an electrical or plumbing issue, a problem with an appliance or piece of furniture—address these issues and keep your home in good working order. If you have any emergency issues, deal with and fix them as quickly as possible. Water damage is one issue, but maybe there’s an electrical or plumbing problem. 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, here are some tips that could help you get a better deal and reduce your costs:
Shop around. Get plenty of quotes from different contractors
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