Property Management Tips – How To Avoid Renting To Tenants Who Trash Your Property
Owning rental properties in Portland Oregon is an excellent way to build wealth while generating cash flow every month but one of the worst things is renting to a tenant who ends up trashing the property.
Bad tenants are out there, but the good news is that landlords can avoid renting to them by following these tips.
Tip #1 – Price The Rental Property Right
The first thing to do to avoid renting to bad tenants is to price the rental property right.
This step is important because, if a landlord prices their rental property too low, they may attract tenants who end up treating the rental property with disrespect, instead of treating it as their own.
Landlords who are unsure of what to charge for rent should hire a property management company like Rent Portland Homes Professionals, to manage their property for them, or at the very least, do a comparable analysis to find out what properties in the PDX area are renting for.
Tip #2 – Verify A Tenants Income Sources
Besides pricing a rental property correctly, another important thing to do that will help a landlord avoid renting to the wrong tenant is to verify a tenant’s income sources.
Income verification is essential because if a tenant claims that they can afford the rental rate, the landlord should confirm that their tenant can indeed pay their rent on time each month.
Tip #3 – Thoroughly Screen Every Tenant
After verifying a tenant’s income, they should also be thoroughly screened as well to make sure they don’t have a history of domestic violence, criminal record, or problems with their credit.
Tip #4 – The Lease Must Be ‘Ironclad”
Last of all, but most important, before renting their property, a landlord must make sure that their lease can be considered to be ‘ironclad’ because it’s the responsibility of every landlord to outline what their tenant can and cannot do at their rental property.
Once the landlord makes their tenant sign an ironclad lease, they should also be ready to enforce it as well because failing to enforce the lease sets a bad precedent by showing the tenant that they can essentially get away with anything.
Contact – Rent Portland Homes Professionals
At Rent Portland Homes – Professionals, our team offers comprehensive property management services that save owners the time, money, and hassle of managing their properties themselves.
To learn more about the services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.