Tenant – The Big Words Blog Site

Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Home/Property Discussions. If you’re renting property, there are several moving parts. You must consider what happens when tenants move in, and also when they move out. The following contributed post is entitled, What Should Landlords Do When A Tenant Moves Out?

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Due to the nature of the private rented sector, no matter how great a tenant is, they will eventually want to move on. They may have saved up enough money for a deposit on their own home, or they may need a larger or smaller home. They could just desire a change. It doesn’t matter why they’re leaving; what matters is that it will happen. No landlord should assume a tenant to stay in their home indefinitely.

When this time comes, it’s critical to get the property ready for the next occupants as soon as possible to prevent losing rental money for an extended period of time. Here are some ideas on what you can do to guarantee that you can re-rent your home quickly while it is vacant.

Photo by Annushka Ahuja from Pexels

Inspect The Property

This is a job that you should complete before the current tenant leaves so that you can resolve any concerns with them. If you are unable to schedule things correctly, you will need to investigate the property as soon as possible after they depart. Alternatively, you could hire an inventory company to do the job for you. This is usually preferable since they will have an unbiased opinion and will provide you with a detailed report of any damage or trash left behind.

If there are any difficulties, you must discuss them with the tenant as soon as possible and come up with a way to deal with them. This might mean calling in experts such as The Patch Boys for repairs. If the tenants are unwilling or unable to fix the issues, you could demand their deposit to cover the cost of repairs, which can be handled via a dispute agency. Otherwise, you must repay the renter’s deposit within a set timeframe.

Clean It Up

Depending on how long the tenants lived in the house, you may have to repaint the walls, hang new wallpaper, or repair the carpeting. Due to regular wear and tear, this is usually not the responsibility of your previous renters. In an ideal world, they’d have cleaned up before they left, but if they didn’t, you will need to pay a cleaning company to come in.

Personalizing the property with your own furniture is another option. Even while it isn’t a requirement, showing prospective tenants how they could personalize a home helps speed up the rental process. Your letting agency should be able to tell you whether or not this is essential. This would be a waste of time and energy in certain locations where the rental market is robust. In other cases, it may be just what you need to have the house rented as fast as possible.

Change The Locks

Even if you have the most trustworthy and reliable renter, changing the locks after they go is a smart idea. You never know if there is a duplicate key or if copies have been made. Of course, a lease contract will normally demand any copies to be returned at the conclusion of the lease, but if they can’t be found, forgotten, or misplaced, you may never hear about them. By changing the locks, you can ensure that the residence is safe and that future tenants have exclusive access to the keys.

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you own real estate with tenants, one of your chief considerations in modern times is keeping your tenants safe. The following contributed post is entitled, How To Keep Your Tenants Safe.

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Given that we are in the middle of a pandemic, it’s become more important than ever to ensure that as landlords, we keep our tenants safe. The initial virus that flew around the world wasn’t of pandemic proportions, but now people are afraid and people are worried about falling ill. As a landlord you have to consider that your tenants could have lost their jobs, or be put on furlough with less of a salary than they are used to. How you handle this pandemic is important, and it’s your responsibility to maintain a healthy living environment as much as it is to be as fair as you can be with your tenants.

You must take as many extra steps as possible to ensure that your tenants are kept safe, and that means following some of the steps below. A healthy environment is a must for your tenants, as it is a must for yourself. Let’s take a look at what you can do.

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● A new cleaning schedule. If you are in charge of an apartment building, you will (hopefully) have a cleaning company on contract to clean and maintain the common areas of the building. Strata cleaners are there to be more vigilant about cleaning than ever before. Hiring in extra staff at this time should be a consideration, as should you be paying for a sanitation station in the lobby. Ramping up your cleaning schedule is a must, and the more you keep on top of it, the better off all of the tenants will be.
● Close the communal spaces. Outdoor playground, indoor seated areas, indoor gyms, non-essential amenities – none of those needs to be open in a pandemic. If you want to maximise the safety of your tenants, then you need to look at closing spaces where they’ll gather and close it for now. You could knock some money off the rent if your tenants don’t have access to the amenities for which they’re paying.
● Change the guest limits. Previously, you’ve never had a problem with tenants having guests and you let them all know it. Now, you need to close down the open house policy because limiting guests will help you to prevent COVID-19.
● Reduce the rent. This may not be one of the things you can do to make sure that people are safe from the virus, but it’s definitely a way to keep people safe. You need to consider that your tenants have lost jobs, are dealing with severe mental health issues as a result of the pandemic and are terrified right now. They should consider you someone to tell when they’re struggling, so offer 50% rent during the pandemic. Your tenants will be much happier, which ensures that they stay for longer.

Being a landlord carries a lot of responsibility. With the right treatment during this time, your tenants will remain safe, happy and comfortable in their homes without the worry that they’re going to have to move, and knowing you are doing what you can to keep them well.