Learn how to protect your property against tenant damage
As a property owner, one of the biggest risks lies in trusting your tenants to be responsible and respectful of their rental unit. While minor wear and tear is to be expected, there is always the possibility of more extensive property damage.
Thankfully, there are some precautions you can take to protect your investment property.
Continue reading to learn three ways you can protect your property and prevent tenant damage.
#1: Leverage in-depth tenant screening
A thorough tenant screening process will help you find tenants that have a history of living responsibly.
Looking into a prospective tenant’s rental history and verifying their sources are the best ways to avoid tenant-related issues in the future.
#2: Set clear guidelines in the rental lease agreement
A rental lease agreement should be extremely detailed regarding the responsibilities and expectations of the lessee and the lessor.
To prevent tenant damage, your lease agreement should specify the condition the unit is expected to be in at the end of the lease period. It should also detail what types of damage could result in security deposit deductions.
#3: Require a security deposit
Requiring a security deposit is an excellent tenant damage deterrent. This deposit is typically returned to the tenant at the end of the lease period if their unit is left in the agreed-upon condition that’s specified in the rental lease agreement.
If damages occur that break the agreement terms or should the damage require repair, these fees can be deducted from the tenant’s security deposit. Security deposits are an effective incentive to prevent tenant damage and to encourage the tenant to take care of their unit.
#4: Hire a reputable Central Florida property management company
Hiring a reputable property management company can help you accomplish the steps above and more.
Along with creating a rental lease agreement designed to protect your investment property, a quality property management company should also handle:
- Property maintenance and repairs
- Property leasing
How we can help
As a local, experienced property management company, we are proud to serve investors with properties across the Greater Orlando area.
If you own one or multiple rental properties in Central Florida, entrust us to manage your assets and you’ll enjoy the peace of mind that comes from choosing an honest, reliable team that can help you achieve your real estate investment goals.
At Rental Heroes, our comprehensive tenant screening service includes:
- Credit check
- Nationwide criminal background check
- Nationwide eviction history check
- Employment and income verification
- Rental history verification
Ready to choose the right partner in property management?