When investing in property to rent to tenants, you take on immense responsibility. Many people consider rental income to be passive, but you still have to work to remain within the letter of the law and maintain a good relationship with your tenants.
While you should aim for amicable regarding your landlord and tenant relationship, you must also know how to protect your interests when necessary.
Stay on top of all maintenance
You are responsible for the maintenance and repairs to your property. If a tenant informs you of plumbing issues, a pest infestation or a leaky roof, you must act as quickly as possible to ensure that the tenants live in a safe, clean and structurally sound environment.
Try to maintain good relationships with professionals, including carpenters, painters, plumbers and others who can help with repairs. If you do not act when a tenant reports a problem, he or she may file a lawsuit against you.
Enforce the rules without exception
Having a friendly relationship with your tenant is beneficial for all parties. While you should remain polite and cordial with anyone living on your property, you must also remind yourself that you must always enforce the rules. For example, if your tenant misses a rent payment, you should enforce any penalties and be polite but firm about the rules of the lease. A good tenant will understand that you have to follow the rules, which may prevent bad tenants from trying to take advantage of you.
To have fewer headaches with your tenants, you must understand the local rules that govern both of you.