Hire a lawyer to draft a rental agreement that protects you against bad tenants and any potential legal disputes.
6. HANDLE THE TENANT MOVING IN
Choose a lease start and end date, and specify any moving stipulations. Security deposits should be paid to protect against damages.
7. COLLECTING THE RENT
Whether you set up an automatic withdrawal or choose to collect rent by mail or in person each month, make sure the tenant is aware of due dates and any potential late fees.
8. HANDLING TENANT ISSUES
Respond to and resolve issues in a timely manner to prevent escalation. Take care of repairs, and know when to involve authorities.
9. CHECK ON THE PROPERTY
Keeping an eye on your property — without infringing on the privacy of your tenants — can help protect you from major damage and allows you to resolve any potential issues before they arise.
10. HANDLE THE MOVE OUT
When a lease ends, inspect the property for any major damages and determine whether the security deposit can be returned. If tenants refuse to move out, you may need to involve an attorney or law officials.
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