Rolanda Wilson - YOUR NO-RISK GUIDE TO RENTING OUT YOUR PROPERTY

occurs when a tenant moves out (and a situation you want to avoid and protect yourself from): A tenant leaves without paying their last two utility bills, and then the utility company won’t turn on service for the next tenant until the unpaid amount has been collected. Your new tenant is left frustrated, without utility service, harming your reputation as a rental property owner, while you’re trying to collect payment from the previous tenant, or footing the bill yourself. Prevent this scenario by spelling out everything about utilities payments in the lease.

15. Above-ground pools/trampolines

You might not have thought of this, but what are your rules for above-ground pools, trampolines, or other hazardous items that could be placed on your property? These are essential legal liabilities waiting to happen! What if someone injures themselves on an installed trampoline, or drowns in a pool on your property? You’ll be held responsible. If you don’t wish to welcome the risk (and I advise that you don’t), you’ll need rules in your lease about not allowing such things on your property.

16. Parking and vehicles

Parking and vehicles can create a whole host of issues, so you’ll need to spend some time with your attorney developing rules. Here are some potential issues to consider: • Too many vehicles. If your tenant has too many vehicles (more than your parking space allows), this can cause conflicts/complaints with the neighbors. They could take up a lot of street parking or even park in your neighbors’ spots. This will create tension with your neighbors, who could call you or file a complaint with the homeowners’

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