tenants

Minnesota Tenants-Advertise Where They Look

As a landlord, I’ve traditionally used newspaper advertising to find tenants.  Then, about 5 years ago I started to migrate the web.  Now, I almost exclusively use the web-relying on Craigslist and http://www.Housinglink.org If you have properties in the Twin Cities, you NEED to get your properties on the Web.  If you are seeking out an older tenant-say over 50-then you can still focus more heavily on the paper print ads.  Otherwise, the young people (who are your primary tenants) are the using the web to search for housing.

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Spot Good Tenants Through Tenant Referral Agencies!

By Sadhana D

Landlords and building premise owners often find it difficult to get hold of a suitable tenant. They are afraid of ending up with a wrong tenant who may create problems at a later stage. Defaults on payment, is something landlords are worried about. However, it is not that difficult. Finding a tenant through tenant referral agencies can help get the most suitable tenant.

One can seek help from tenant referral agencies. They can help find the most suitable tenant who will keep up with payments. Tenant for rented property is a beneficial service. If you are wondering how to find tenant for your rented property, you can seek the help of referral agencies.

If you have been contemplating over this for a while, you can benefit from tenant referral agencies. Now, a landlord will not face a troublesome task of looking for a tenant. He can easily find one through tenant referral agencies. The agencies check the tenant’s credibility and come to a conclusion whether the tenant will prove to be trustworthy.

They will carry out cross checks on tenant’s employment status, or financial condition. One can reach out to tenant service for landlords and homeowner and get tenant referrals within no time. Herein, the reference will be handled by tenant assessors who have the experience of processing thousands of tenant references. They can give a tenant reference quickly and efficiently.

On the other hand a letting agent will carry out background work to assess if a prospective tenant for rented property is suitable or not. The credit references from the bank or building society, plus personal references from employers and where ever applicable, previous landlords of the tenant are also cross verified. For those who are self-employed, references are obtained from an accountant or solicitor. The tenant agent will help you find a suitable tenant for residential property as per your requirements. You can choose from two tenant referencing options: Express and Comprehensive.

They will help you assess a tenant properly. Tenant agents employ a predictive risk scoring technology to give you a rapid indication of your tenant’s financial stability. This immediately offers you a reliable indication of any likelihood of your new tenant defaulting on his rent payments. Once it is decided that a tenant is suitable, an inventory and condition report will be drawn out. This records the condition of the entire property, including carpets, curtains, furniture, wallpaper and paintwork, along with a list of the entire contents of the property.

Sadhna D, Expert Author
Know More About Property Letting Agent: Property Letting Agent
Estate Agents in London: Estate Agents

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http://EzineArticles.com/?Spot-Good-Tenants-Through-Tenant-Referral-Agencies!&id=3102134

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Tenant Screening Services

By Mathew Costner

Property owners sometimes face serious problems caused by their tenants. The most common problems are due to the tenants defaulting on rents or making damage to the property and not paying for the damages. It is important to note that rent collection is the only source of income for a property owner. It is the only investment that property owner has.

Landlord commonly fall prey to trouble making tenants when they fail to check tenant screening report. To avoid problematic tenants who damage your property and create unnecessary nuisance is to opt for these services from any elite tenant screening agency providing competent services to landlords.

Landlords are stuck with problematic tenants when they give their property to tenants that are referred by their friends or relatives. Property owners must not accept any tenant mere on the basis of referral, they must check out tenant credit report for detailed analysis on personal information, history of forced evictions faced by your potential tenant. Tenant screening on potential tenant will give you information on tenant’s financial capabilities, previous employer information and information of previous landlord.

One of the best ways to perform tenant screening is to outsource this job to any elite agency that offers adequate services to property owners. These agencies will perform in dept analysis on tenant’s background. They also check out criminal records if any and allow you to access this detailed tenant screening report.

However, it is important to note that certain tenants are very cunning, as they can sue you if you disqualify them. The most common allegation on landlords is the racial allegation. To avoid getting in such a messy situation is to ask your potential tenant to fill tenant rental agreement.

You can customize your tenant rental agreement by incorporating certain important terms like: no tenant will be disqualified on the basis of color, race, marital status, and age. By asking your tenant to sign this tenant agreement you ensure that you mean business. You can also ask him to pay non refundable fees to perform tenant screening.

Based on tenant screening report you can analyze how realizable your tenant can be. This will help you to select a tenant fit for your property.

You can perform tenant screening on your potential tenant with the help of American Apartment Owners Association. It is a premier organization that offers competent tenant screening services to landlords.

Article Source: http://EzineArticles.com/?expert=Mathew_Costner
http://EzineArticles.com/?Tenant-Screening-Services&id=2950711

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Tenant Background Check Agents – Necessary Steps to Take

By Vijay K Shetty

Do you have a tenant referred by some one? The preliminary step would be to carry out tenant background verification. If you are finding it arduous and time consuming to cross verify all the details mentioned by the tenant, you can reach out for tenant background check agents. These tenant reference agents carry out the task of tenant check professionally.

Taking some time out to check your tenant’s references in advance will reveal if there are any discrepancies found. Based on these details you can make a wise and informed decision on letting your rental unit. It also allows you to make suitable substitutions. Information such as a tenant’s character, dependability and financial status must be checked in order to avoid letting your rental unit to a bad tenant. With this, you also safeguard your rental income and the contents of your rented house. Special care should be taken while letting out a furnished house to a tenant. Find out if a prospective tenant has caused any damage to contents of his previous rental unit? A tenant check helps you make an informed choice and avoid any mistakes in future.

Secondly you must have a tenant rent agreement signed. This is a legal binding contract between the two parties, landlord and the tenant. It can be a fixed term of not less than 6 months and not more than 12 months. A duplicate copy of this rental agreement will be provided to the tenant. If the tenant defaults on rent he will have to face legal consequences.

Thirdly, you need to consider tenant rent insurance before letting out your valuable property to a tenant. This will further guarantee your rent on time. Several landlords depend on their rental income as it may be the only source of income to them. In this situation tenant rent insurance acts as a protective shield and ensures timely rent. This tenant rent insurance may be provided by a tenant reference agent and he takes care of the rent payment on time. They will also pay for any eviction or legal proceedings against a defaulting tenant.

When you have a tenant referred, the first step you need to take is tenant background verification, if you’ve selected a tenant letting agency to choose a tenant for you, then they take care of the tenant’s background check on your behalf. In addition to this, they even offer you tenant rent insurance in order to guarantee rent on time. In case, a tenant defaults on rent despite of having signed a tenancy agreement, then, he will face the consequences. Letting agent will pay for any eviction or legal proceedings against the tenant, in order to recover the rent.

Vijay Koragappa Shetty
Get all your tips related to tenant reference checks from: tenant reference checks.

Tenant Background Check: Tenant Background Check.

Article Source: http://EzineArticles.com/?expert=Vijay_K_Shetty
http://EzineArticles.com/?Tenant-Background-Check-Agents—Necessary-Steps-to-Take&id=2945891

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About Tenant Referencing and Tenant Credit Check

By Fabiola Groshan

Tenant referencing and tenant credit check are two tools, which are used while renting property by you as a landlord to the tenant to ensure safety and profit of your property. These can also have an impact on returns you earn from your property. To address both the issues, there are tenant referencing and tenant credit check companies available, even online – which you can hire to get your work done. These tenant referencing and tenant credit check companies comprise qualified and experienced teams of people whose exclusive area of business is about dealing in these property matters. They guide you through finding reliable and positive tenants for your property in the end.

Tenant referencing is about tenant assessment. In other words tenant referencing means assessing your tenants. As a landlord you should understand the importance of it and treat it as your top most priority. Tenant referencing is crucial because it ensures helps to keep your property safe and free from any risks and increases your return on investment by checking and verifying their reliability and credibility.

A good tenant referencing service company will help the landlord to collect crucial information, which can help you to enjoy regular and safe rental income. Any good tenant referencing Service provider will offer speedy referencing system and procedure that will help you take swift and calculated decisions. They will be at your service 24X7.

A good tenant referencing company will provide you with data and information with the help of which you will be able to predict credit score of the tenant to verify whether is financially in sound health or not.

Good tenant referencing is also about being able to provide financial reports or data required or requested by you physically or online immediately so that you don’t lose clients on account of lack of reliable information. They are also qualified and equipped to see through frauds and bungled or withheld information.

Tenant credit check also called tenant screening, is an aspect that you can’t ignore as a landlord and thus is an essential part of being a landlord. Without proper tenant credit check procedures, a landlord is very likely to find himself/herself stuck with tenants that are nothing less than nightmares. And these nightmares last much longer!

Using tenant checks like, tenant credit checks, background checks, eviction reports, criminal records, and other data, helps you to filter out those tenants you don’t want to deal with. As a landlord tenant credit check is your right and you must exercise it to the fullest for your benefit and long term security of your money as well as property.

Tenant credit checks are not just about steering clear of tenants with bad credit records, tenant credit checks are also about choosing positive tenants for your property. Some people however feel that the credit score is not particularly important, and the MOST important part of the credit check report is the payment history, along with outstanding balances of the tenant.

For more resources about Tenant referencing or even about tenant credit check please review this page http://www.lettingref.com

Article Source: http://EzineArticles.com/?expert=Fabiola_Groshan
http://EzineArticles.com/?About-Tenant-Referencing-and-Tenant-Credit-Check&id=1851045

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How to Retain Good Tenants

By Brendan O’Brien

Good tenants are easy to ignore – until they tell you they are moving out. Why are they leaving? Well, it might be because you ignored them. And when tenants plan to move, it’s very, very difficult to get them to change their minds.

The reason you may ignore good tenants is that you spend so much time working on your not-so-good ones; cajoling them to clean up their acts or planning to evict them. When you are always on the phone with Average or Bad tenants A, B, and C, you quickly start thinking of Good tenant D as simply a check that comes in the mail, on time every month, like clockwork. But your good tenants are much more than that. They are human beings who:

• Understand that they are paying good money, and expect good service in return
• Notice when their building seems to be going downhill
• Recognize when they are being B.S.ed or treated disrespectfully or dismissively

On the other hand, YOU may not recognize these feelings in your good tenants, simply because they may be reluctant to share them. The complaints are more likely to come from your poorer tenants, and you may be more likely to dismiss them as a result. The good tenants are more likely to suffer in silence, before deciding to move on.

It’s vitally important that you retain your good tenants, not only because they make your landlording more pleasant, but because they are so hard to replace. Once that unit is vacant, you may not re-rent it for months, and you have no idea how the next tenant will turn out. He could be just bad enough to make your life really difficult, or so bad that he only lasts for a month or two before eviction. Since your good tenants are less likely to contact you, you have to stay in touch with them. Try to get a read on their feelings by calling or emailing at least once a month. Here’s a short checklist of questions:

• Does anything need repairs in the unit?
• Are you noticing any maintenance issues in common areas?
• Do you have any suggestions for me?
• How are your neighbors?

Not only have you learned how satisfied your good tenants feel, you’ve made them feel important and wanted. Now you need to follow up by addressing their concerns, if any, sincerely and quickly. Bear in mind as you do so that you can’t get into trouble for being nicer to your good tenants than your bad ones. If a good tenant’s got a maintenance issue, generally make it your first priority – the only more important issues will relate to safety or potential for very serious problems, such as fire or water damage hazards. If a good tenant’s got a beef with a neighbor, get all the facts and deal with it right away – making sure you get the neighbor’s side of the story before making a judgment. If a good and bad tenant are having a dispute, and neither is clearly in the right, it’s okay to side with the good tenant. While you’re at it, ask your good tenants if they’re thinking about moving. Yes, that’s shockingly blunt. But it’s the only way you’ll ever find out if a tenant is planning to move before he or she actually signs a lease for another unit. Once they sign that lease, they’re gone – and no amount of cajoling is going to get them back.

If a tenant IS planning to move, ask why and press (nicely!) until you get an answer. Hopefully their decision will be based on a problem you can fix. The unit feels kind of old and grimy? Offer to repaint it. It’s too hot in the summer? Get them an air conditioner. It’s too small? Maybe you have a larger unit vacant, even if it’s in another building – and you’ll help them move for free. Some of these fixes run into some serious money. You need to compare them to the cost of finding a new tenant. That is a certain amount of lost income, plus the cost of marketing the unit, plus any necessary renovations to make it re-rentable. If the unit needs paint anyway, then painting it to motivate a good tenant to stay is much better than painting to get a new tenant. If the money looks REALLY serious, ask them to sign a new lease. Point out that they would have to if they moved to a different building anyway.

You should also make sure your tenant recognizes the cost and aggravation of moving. They’ll have to rent a truck, buy or steal boxes, pack everything, arrange for new utilities, physically transport the stuff, and change addresses for all of their mail. Why should they do all that when you can offer them what they want with much less hassle?

On the other hand, they might be moving for reasons you can’t control, maybe because they’re getting married or taking a new job in a different city or buying a house. Thank the tenant for being a great tenant, and ask if they know anyone else who might be interested in renting the unit.

You have to be committed to keeping your good tenants happy. That doesn’t include letting them break rules or pay rent late. Instead, look for little things you can do to be helpful. For example, when tenants move out, they often leave behind one or two objects of some value; bookshelves, portable fans, and so on. I offer these to my remaining good tenants. I also send Christmas cards each year with a gift card to a local coffee shop in each. It’s definitely worth $5 to make a good tenant happy.While you’re at it, invest in a few emergency items you can have available for tenants if they need them. Get a couple of electric space heaters (for use if the heating system breaks) and big coolers (if there’s a power failure). Now if you get a call about a heating problem or power failure, you can offer some quick relief until the issue is resolved.

Brendan O’Brien is the founder and president of Property Master Web™ Software. He is a contributing writer to REIP The Rewards® Magazine and is an active landlord and real estate investor. O’Brien designed Property Master Web™ with a team of 26 real estate investors and professionals to create the most comprehensive property management software solution for everyone, from first time investors to multiple property mangers. In addition to software, the advisory board has written 162 Landlording Tips that are a great resource for any property manager. For more information about Property Master Web™ visit http://www.PCPropertyMaster.com or email Brendan.obrien@pcpropertymaster.com

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http://EzineArticles.com/?How-to-Retain-Good-Tenants&id=617442

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Tenant Loans – Tenants Only Resort

By Steve C Clark

As if the problems of tenancies were not enough that loan providers too have started treating tenants in a step motherly fashion. Such is the indifference of loan providers that it appears as though loan opportunities are all shut for the tenants. Since they do not have a home of their own, tenants are often eyed with suspicion. What if the tenant runs away after borrowing? Legal procedure sure offers a relief but it is often too protracted.

However, not all loan providers view tenants in a similar fashion. It is these lenders who offer loans to tenant. Tenants are the people who do not have a home of their own. People who have been living till date in their parents’ home too count as tenants, unless parents are ready to allow the usage of their home as collateral. A loan to serve the tenants is known as tenant loan in the UK.

UK tenant loan is basically an unsecured loan where the borrower does not have to offer any collateral to the loan provider. Take any secured loan and the clause of collateral will always come along. Whether it is the home of the borrower or any other asset which serves as a collateral, there is always the fear of the collateral being taken away permanently by the loan provider. How else do you think the loan provider will recover his loan? UK tenant loan is free of any such fears as there is no collateral.

One more advantage of tenant loan, which extends to unsecured loans in general, is that they are relatively faster in getting approved. With no collateral to value, the loan providers can save significant time during approval. Compare this with a secured loan against home and we find that the valuation of home takes as much time as the other processes taken together. Thus, if you are taking a tenant loan in the UK, you can hope to receive loan proceeds much faster than your counterpart who has taken a secured loan.

Compared to the earlier times, the number of lenders with loans for tenants in the UK has increased. The lenders have realised that by taking a moderate risk they can increase their customer base.

UK tenant loans are awarded for sums ranging up to ₤25000. Tenants thus may not qualify for a large amount as in a secured loan. This constitutes one of the tactics to reduce the risk involved in the process of offering tenant loans. Tenant loans can not be used for tasks which have a larger cash requirement. Making small improvements in home and debt consolidation are the purposes which can best be undertaken through a tenant loan.

Additionally, the interest rate on the UK tenant loan will be very high. As most of us know that rate of interest is heavily dependant on the amount of risk involved in a particular loan deal. We discussed in the very beginning of the low credibility of tenants. This implies that the tenants expose loan providers to greater risk. Thus, tenants have to pay a higher rate of interest. The borrowers can escape interest rate fluctuations by using the several options that come on interest. Rate locks, capped rate, discounted rate etc form some of the interest options to lessen the bitterness of high interest rates.

Having a bad credit history will not be accepted with ease in UK tenant loans. Credit history is the only instrument through which borrowers can trust borrowers. When credit history is tarnished, they will find it very difficult to make the lending decision. Credit deformities may have been ignored had there been sufficient collateral. Does this mean that tenants with bad credit history have to return empty-handed? They would have to return thus had it not been for a few loan providers who are ready to lend with this much risk.

Tenants must be good researchers for finding good deals in UK tenant loans. There is no shortage of loan providers who try to take benefit of the problem of the tenants. They will often increase unreasonably the rate of interest or will include too many of the hidden charges. Borrowers who are able to surpass these lenders are the ones who find the best deals in UK tenant loans.

Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To Find Personal loan UK Homeowner personal loan secured personal loans, Tenant loans visit http://www.ezpersonalloansuk.co.uk.

Article Source: http://EzineArticles.com/?expert=Steve_C_Clark
http://EzineArticles.com/?Tenant-Loans—Tenants-Only-Resort&id=131834

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Office Tenant’s Guide to Commercial Real Estate Tenant Representation

By Stefan Rogers

Unlike brokers that represent landlords and owners, Tenant Representation brokers specialize in representing the best interests of tenants and space users only on the lease and purchase of commercial real estate.

The value a business can gain from hiring a tenant representation broker to handle its corporate office space, just as it would hire a CPA for financial and an attorney for legal matters, is so significant, it’s essential every business owner understands the benefits. With real estate typically being a business’s second largest expense, companies can’t afford to overlook the benefits of professional tenant representation services when thousands of dollars are ultimately at stake.

Successful, savvy business owners either employ an in-house corporate real estate director to manage their property, or outsource their requirements to a professional tenant representation advisor. Those that don’t are missing out – on potentially thousands of dollars in lost revenue and wasted money that could quickly and easily be converted into profit!

There are no savings to be had by not hiring a tenant representation broker.

Every listing agreement compensates the landlord’s broker with an industry standard fee, which the landlord’s broker shares with the tenant’s/buyer’s tenant representation broker if they have one. This incentivizes the landlord’s broker to find a tenant that isn’t benefitting from their own tenant representation broker, because the landlord’s broker will receive the entire fee for negotiating against them! There is no discount to be had by not hiring your own tenant representation broker so you should take advantage of this service because the full commission WILL be paid on every listing whether you are represented or not. Furthermore, tenant brokers’ negotiating expertise and intimate knowledge of commercial real estate can easily save you an average of 30% in occupancy costs in today’s market, several times greater than the full listing fee!

You can quickly and easily save thousands of dollars by hiring an expert commercial real estate negotiator.

An experienced tenant representation broker’s negotiating expertise can typically reduce your occupancy costs by approximately 30%, several times the total commission paid on a commercial lease transaction! The office leasing and buying process is complicated and risky and should only be handled by an experienced professional. Just as you hire a CPA for financial and an attorney for legal matters, hiring an expert tenant representation negotiator to navigate the complicated and risky commercial real estate process is essential to achieve the maximum money and time savings, protection and benefits for your business.

Avoid conflicts of interest unlike a landlord’s broker, your tenant representation broker is 100% committed and accountable to you only.

Just as a landlord’s broker’s obligation is to represent their client’s best interests, not that of a tenant’s, your tenant representation broker’s obligation is to represent your best interests only. Hence, you expose yourself to a huge conflict of interest when you use one or several landlord brokers to “negotiate” for you on their own listings, and you are far less likely to receive the level of service you would from a tenant representation broker who is committed and accountable to you only as their client. Unlike a landlord’s broker, your exclusive tenant representation broker is 100% accountable and committed to you because they have a legal responsibility to represent your best interests, not those of a landlord.

Unlike brokers that represent landlords and owners, tenant representation brokers avoid conflicts of interest by specializing in exclusively representing commercial tenants and space users. The best way to avoid a conflict of interest and ensure your broker is representing your best interests is to execute an agreement acknowledging their legal obligation and duty as your representative. By doing this, you can also expect a higher level of service, commitment and accountability as the broker knows he will ultimately be rewarded for his efforts. Owners and landlords exclusively engage their own brokers to guarantee the best possible terms and you should too!

Save hours of your valuable time and thousands in company dollars by hiring a professional to manage the real estate process for you.

When you’re running a business, time is money, and searching for space and negotiating office lease transactions often takes longer than expected! The commercial office leasing and buying process is extremely time consuming and can place a huge drain on company time, money and resources. Not only do tenant brokers advise you on the best strategy so you don’t head off in the wrong direction, they’ll save you huge amounts of time by preparing property listing reports, scheduling and conducting property tours, submitting proposals, negotiating and reviewing leases and managing tenant improvement and relocation projects. Outsource everything but the decision making to your tenant representation broker and benefit from the peace of mind that they will professionally manage the process and save you a huge amount of personal time and money while you focus on running your business. Your exclusive tenant representation broker will of course also save you thousands of dollars in occupancy costs by negotiating the maximum concessions on every transaction.

Protect yourself from exposure to real estate risk.

The office leasing and buying process is complicated and risky. Just as you would hire a CPA to manage your taxes and an attorney to represent you on legal matters, the real estate process should only be managed by an experienced professional that understands all the pitfalls and intricacies of the transaction. We take risk out of the equation by professionally and expertly managing the process down to the smallest detail and advising you on the most risk-free strategy for achieving your objectives and protecting your business from unexpected real estate risk.

Benefit from professional tenant representation to achieve the best results for your business.

Due to the relatively inert nature of real estate, maximizing the operational efficiency of your office space can be a challenge, especially if your business and your space needs are evolving. Opportunities for businesses to grow and change are often hindered due to the restrictions placed upon them by their office space. Don’t let your office space hold you back! Find a tenant representation broker with the expertise you need when expanding, consolidating, or relocating facilities, renewing or restructuring existing leases or purchasing a commercial property for your business.

A tenant broker’s role is is to provide you with the comprehensive data and impartial advice you need to make the right corporate real estate decisions and, in turn, provide the most economical, operationally effective and risk free real estate solutions for your business.

Get instant access to every available real estate listing and opportunity.

The most important phase of the real estate process is identifying and qualifying suitable opportunities to lease or purchase. Without a tenant representation broker it would be extremely time consuming and futile to attempt to thoroughly survey your target market as, unlike the residential market, the vast majority of commercial office space listings are not available online. Furthermore, searching for commercial space through landlord/listing broker is unlikely to give you exposure to every available opportunity as they may only introduce their listings, and calling numerous brokers is extremely time consuming. A landlord broker is encouraged to steer tenants to their own listings as they receive double the fee if they represent their client, the landlord, as well as the tenant. Tenant representation brokers have no incentive whatsoever to steer you to particular listings and are completely impartial as they are representing you, the tenant, and are subject to the same listing fee structure regardless of the property.

By hiring a tenant representation broker, you can be guaranteed exposure to every available listing opportunity and also receive impartial, objective advice on the suitability of the space to your business needs. A good tenant broker will go to great lengths to assist clients in determining their specific real estate requirements and locate and evaluate properties that meet their exact needs. Not only should they have access to all the commercial real estate multiple listing services, but their in-depth knowledge of specific commercial real estate submarkets will give you access to all off-market availabilities and pocket listings to guarantee you access to every opportunity. They will also prepare a comprehensive survey of every commercial MLS database, leverage their intimate knowledge of the marketplace to research every suitable off-market property and aggressively market your requirement to every owner and listing broker. This creates powerful negotiating leverage as multiple landlords compete for your business!

For free advice, a no-obligation consultation or lease audit to determine the cost-savings and real estate strategies available to you, call Stefan Rogers direct: (949) 263 5362.

By Stefan Rogers, MRICS: (949) 263 5362/ srogers@voitco.com
Commercial Tenant Solutions is part of Voit Real Estate Services – 2020 Main Street, Suite 100, Irvine, CA 92614

Voit Commercial Tenant Solutions’ corporate real estate services, strategies & solutions save you valuable time & money & protect you from real estate risk by minimizing your commercial real estate costs & maximizing the operational efficiency of your corporate real estate. As expert tenant representation advisors, we provide the power you need to gain a competitive advantage over landlords & secure maximum value from your real estate. Voit Commercial Tenant Solutions is part of Voit Real Estate Services.
http://www.voitcts.com

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http://EzineArticles.com/?Office-Tenants-Guide-to-Commercial-Real-Estate-Tenant-Representation&id=2710327

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Evicting a Tenant

By Julia Vakulenko

Real estate market property owners must know when to evict and how to carry it out effectively. The role of a property owner is time consuming and is a full time job for most if not for all proprietors. A property owner must observe given rules, act swiftly since time is a major determinant and know when to carry out an eviction. It is devastating and unaffordable to allow a tenant to continue living on a property without paying rent. Delaying an inevitable eviction and allowing a problematic tenant to stay on the property for any additional time is an expensive mistake that should not occur. A proprietor must note that the time to evict is as vital as how to do it. Property owners must observe the five steps of when to carry out an eviction to get rid of a problematic tenant.

The following are five steps in real estate eviction.

Do not permit a tenant to do any of the following:

I. Rent default- The proprietor should immediately evict a tenant who defaults in rent payment. Waiting only worsens the situation and leads to more loses and therefore the property owner should not hesitate in carrying out an immediate eviction. The proprietor cannot afford to waste time and must serve the tenant with a 3-day notice before the new month’s 5th date to reduce the time spent in the premises by the tenant, without rent payment. Tenants come up with all sorts of excuses for not paying rent and if possible can remain on a market property for a long duration, rent-free.

II. Late payments- a proprietor should evict any tenant that consistently pays their rent and refuses to pay the fee stipulated in the contract on late rent payment. It is excusable for a tenant to pay rent late including late rent in some cases but one that pays their rent late on a regular basis should be replaced with another tenant. The habit of late payments should not be tolerated since it is not only time consuming but it costs the landlord time and money. The proprietor should therefore understand that evicting the tenant is inevitable and wisely do it earlier.

III. Withhold rent- A tenant that withholds rent from the property owner until certain repairs are done on the premises must be evicted immediately. Tenants try to hold back rent until they have their way and most of their excuses have something to do with incomplete repairs. Tenants go to an extent of photographing pending repairs and forcing the proprietor to complete these repairs before rent payments is done. This is a way of blackmailing the proprietor and should not be allowed or excused. No tenant has the right to withhold rent as a means to negotiate for repairs. A tenant has no grounds to force a property owner to do random or unnecessary repairs.

IV. Deduct rent- A tenant who deducts repairs from monthly payments must be evicted. Each tenant must pay his or her rent in full as contracted. A tenant can decide to buy a new stainless steel refrigerator and make a deduction from the rent. Tenants have no right to make deductions of any amount from the rent to compensate for appliances repairs, improvements or other reasons. Rent for real estate should be separated from all the property repairs. It is only the proprietor who has the mandate to approve and pay for repairs and a tenant is not permitted to decide which repairs are pending and when they should be done. A tenant cannot go ahead and make repairs then inform the proprietor that they will deduct these repairs from their rent.

V. Live on the deposit – Eviction must be started immediately a tenant declares to the property owner that they are not paying rent and will live on the deposit. Living on the deposit is widely unacceptable and is not legal. The major problem lies in whether the tenant will keep their word and leave the premises once their deposit is spent. It is a common scenario to see a tenant staying on a property past their deposit and attempting to live subsequent months without paying rent. The tenant must not live on the deposit for whatever reasons. In most cases, the tenant gets their deposit back once they vacate from the premises and the proprietor does a thorough inspection. Funds that are used in property repairs after the tenant vacates are deducted from this deposit, which acts as security.

As a property owner, one must observe all the five steps listed above in carrying out an eviction and act without hesitation to prevent potential disaster. Problematic tenants should not be retained just to keep a property occupied or out of fear that the premises will not be rented. It is advisable to let out property to a tenant who will not only make timely rent payments but also one who will be a good property steward. Tenant screening is therefore an essential part of the entire renting process. Eliminating a tenant who is not reliable but continuously pays their rent late without adding late fees, withholds rent to coerce the landlord to make repairs or fulfill other tenant demands is not negotiable for landlords. Other indicators that property owners must look out for before carrying out evictions are tenants who deduct repairs from their rent and those who live on the deposit. Identifying problematic tenants and preventing potential problems goes a long way in ensuring a proprietor succeeds and stays above competition.

Julia Vakulenko is a licensed broker associate with Tampa4U.com Realty. She has one of the hardest working Tampa Real Estate team in Florida.

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http://EzineArticles.com/?Evicting-a-Tenant&id=1743677

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Disruptive Tenants

By Brendan O’Brien

The Most Dangerous Tenant

I thought I had checked everything with this prospective tenant. He had a good report from his previous landlord. He had worked at the same company for five years. His credit was fine. And he seemed like a responsible person.

But he would turn out to be the worst tenant I ever had. He drank heavily, insulted and threatened other tenants, tried to start fights, damaged their property, and even got arrested in my parking lot for being drunk and disorderly and resisting arrest.

There are many different ways to be a bad tenant, but among the worst are disruptive people. Disruptive people, in a multifamily property, can drive all of your good tenants out and permanently damage the reputation of your building. Even in a single family or commercial building, their bad behavior can cost you a fortune in legal and other costs.

Many real estate investors start with some naïve assumptions about other people. We follow the rules and treat others with respect, so we think everybody else does as well. But if you’re going to be a successful landlord, you must prepare to deal with the worst of human nature. That means using all the screening tools at your disposal; consistently enforcing a clear set of rules; and knowing what you will do for any type of tenant infraction, as well as the steps you must follow for a legal, trouble-free eviction.

The best solution to disruptive tenants is to keep them out of your properties. I believe the first step should be to check with your local landlords’ association or REIA, which may keep a tenant database. After that you can check credit, employment, previous tenancy, and criminal behavior.

For each step in the process, there’s a right way and a wrong way. With the tenant database (and indeed all background checking steps) make sure that you’ve got the right person. Many good people have suffered because someone else with the same name misbehaved. Also remember that tenant databases often include both good and bad tenants. Check with the previous landlord, who submitted your prospect’s name, to find out what he really thought about the tenant.

Credit and employment are two areas where you may decide to be flexible. Many otherwise fine people have poor credit. If the tenant has only worked at his job for a short time, talk to his employers from before that change. In employment checking, make sure you find out the employer’s phone number on your own – don’t trust the rental application. In both employment and previous tenancy checking, watch out. Former supervisors and landlords often give overly positive reports.

Make sure you check the same things, document your process, and keep a detailed record for each prospect you check out. This system will help if a rejected prospect ever sues for discrimination.

The only downside to all this checking is that you will reject more prospects than most of the other landlords in your area, and your units may stay vacant longer. But, considering the hassle and expense that a bad tenant can cause, losing a month’s rent doesn’t seem that terrible.

Once you’ve approved a rental application and the tenant has moved in, the next step is to get them started with good habits. Make clear what you will not tolerate and give the tenant a detailed list of fines and rules that are the same for everybody. Make the list reasonable. An overly detailed and nitpicky list will turn off tenants you want to have. In the first few weeks or months after the new tenants move in, stop by both their apartment and their neighbors’ or call from time to time to make sure everything is going well.

Fortunately, most of your tenant disruptions won’t be that serious. Most are minor – loud noises, improper trash disposal, or parking violations. Where the complaints are along these lines, let the tenant know he’s getting complaints and back them up with the fines you have set. Some tenants don’t even know they’re causing a problem. In any case, your response must be firm and fast. If you don’t, the tenants’ behavior will get worse.

You also must make sure not to overreact. You may have two tenants who are both perfectly responsible, but simply do not like each other. They might show their dislike by nitpicking about each others’ behavior. Or you may have a very demanding tenant who calls you with trivial complaints about his neighbors. Maybe the neighbor parked her car a little too close to his. Another couple walks around their apartment late at night. The woman downstairs has a baby who cries a lot.

To evaluate these situations, talk to both tenants, and also talk to anyone else you have living in the building. Suppose Tenant #1 is constantly complaining about Tenant #2. But when you talk to Tenants #3, #4, and #5, they all think Tenant #2 is a fine neighbor. And you know that #3, #4, and #5 are also responsible people. That makes it fairly clear that the problem is very high expectations, not bad behavior. It’s time to talk to the complainer about lowering her expectations. You don’t want a reputation as a ridiculously nitpicky landlord.

But there are three classes of tenant behaviors that you absolutely cannot tolerate. The tenant does NOT get a second chance if he fights or threatens other tenants, or engages in any illegal activity (most likely drug abuse or public drinking). You should immediately begin the eviction process, and make sure you have documentation. There’s a standard clause in most leases that requires tenants to not interfere with others’ enjoyment of the premises. That ought to cover most disruptive behavior. However, your lease should make it clear that any of the Big Three disruptive behaviors will result in immediate eviction (as always, checking with your local real estate attorney so that the language is correct).

No matter how carefully you screen prospects and set and enforce rules, you may still occasionally run into a nightmare tenant. However, these steps will make disruptive tenants much rarer, and your landlording experience both happier and more profitable.

Brendan O’Brien is the founder and president of Property Master™ Software. He is a contributing writer to REIP The Rewards® Magazine and is an active landlord and real estate investor. O’Brien designed Property Master™ with a team of 26 real estate investors and professionals to create the most comprehensive property management software solution for everyone, from first time investors to multiple property mangers. In addition to software, the advisory board has written 162 Landlording Tips that are a great resource for any property manager. For more information about Property Master™ visit http://www.PCPropertyMaster.com or email Brendan.obrien@pcpropertymaster.com

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Good Tenants – Learn Twelve Ways Landlords Keep Them

By D. Maurice

Happy, Long-term Good Tenants Paying On Time

How to Create a Win-Win Relationship for the Both of You!

After you’ve found your tenants, how do you keep them? Establish a friendly, pleasant, business-like relationship with your tenants, so they’ll want to renew again each year. By using one or a few ideas below, you will learn how to keep good tenants. The following are some suggestions that apply to residential landlords, landladies, and property managers.

1. Move-in Gifts

Move-in gifts are a nice way to welcome your new tenants. Place these gifts in the apartment with a red bow on them before the tenant moves in. A (plumber’s) plunger and a garbage disposal wrench, known as an Allen wrench, can work wonders for your tenants. Simple idea, right? These small, practical gift items will come in handy when the plumbing backs up or the garbage disposal stops working. Often overlooked, these items are not something people think of, but these move-in gifts will save you time and money with fewer maintenance trips.

2. Welcoming Gifts

A welcome gift establishes a positive relationship with your good tenants. Present the gift after the first eight to twelve weeks of tenancy. As always, make sure the tenant(s) rent is current before presenting your welcome gift. This effective gesture shows the good tenant(s) you are a thoughtful landlord. A few examples of some welcome gifts are:

• Hanging flower baskets of petunias;
• Small potted flowering plants such as pansies; or,
• Small fruit baskets from your local grocery store.

Present your gift in person. These inexpensive gifts will surprise your tenant(s). And go along way towards building goodwill. This is also a good time to do a quick “look around” inspection. This way you can determine if the tenant is keeping the apartment clean.

Also, take this opportunity to observe any unauthorized move-ins (e.g., a person or pet.) If there was, then politely address the issue immediately. Mail a written letter of notification acknowledging the unauthorized move-in. A copy of the lease should also be mailed to the tenant. Anyways, you will be able to address concerns while you’re there, creating a win-win relationship.

3. Renewal Gifts

Renewal gifts are small reward items of appreciation you may wish to provide to your tenant(s). A small incentive goes a long way. And you’re creating a positive relationship between yourself and the tenant. Here are the benefits of lease renewal:

• You don’t have to advertise for another good tenant;
• You don’t have to screen calls;
• You don’t have to show the apartment only to wait for no-shows;
• You don’t have to build a new relationship with a new tenant; and
• You don’t have to educate new tenants about your do’s and don’ts.

Renewable gift suggestions:

• A gift certificate to a local restaurant;
• A bouquet of fresh cut flowers; or
• A special gift certificate from a local supermarket or gardening supply center

These renewable gifts range from $25 to $50. This amount depends on your budget. And, continues to build a positive relationship with your good tenants. Presenting a renewal gift in person demonstrates a caring attitude about your tenant(s).

4. Holidays

Holidays are a great time to acknowledge your good tenant(s). There are a number of holidays to choose from and depending on your time, schedule, and workload this is a personal choice. Generally, a trouble-free idea is to send a non-denominational holiday greeting card, letting your tenant(s) know you’re thinking of them.

Alternatively, such as a week before Thanksgiving, purchase a turkey as a gift, along with one you buy for your own family. This provides the tenant(s) with a nice Thanksgiving meal while saving you time and money. Either way you’re creating another win-win relationship with your good tenants.

5. Emergencies

Communication and some well-established rules are vital. Let your tenants know your property management schedule. For example, calls regarding minor problems, 8:00 a.m. to 8:00 p.m. during the week, excluding Sundays. Educating your tenants early is a necessity for your peace of mind. Following are examples of some real life non-medical emergencies.

It’s 9:00 p.m. on a New England Thursday evening. The winds are strong and it’s snowing lightly. The temperature has reached 30 degrees below zero. The phone rings and our tenants are complaining they have no heat. Quickly, a call is made to the oil company. The oil delivery is made and this remedies the situation. The landlord follows-up to make sure everything is o.k. Our tenants know even with freezing temperatures, we do care and act immediately.

Here’s another example, one of our tenants’ decided to use the laundry facility in one of our empty units. We approved her authorization to do laundry. While she was there, she discovered water spraying from underneath the bathroom sink. Already, two inches of water had accumulated. The bathroom and most of the surrounding kitchen is drenched. She called in a panic. “The water is spewing from underneath the bathroom sink,” she says. I was unsure what to do. I called my best friend, my husband, and he remedied the problem within two hours. The tenant did not have to call about this emergency. She chose to, demonstrating the importance of good, strong relationships with your good tenants.

6. Maintenance

Your property rental maintenance system will increase your real estate value and cash flow. Hence, you will be able to charge a little more rent for the up keep. When you’re scheduling maintenance projects for the year, make a checklist. Your checklist should include preventative maintenance; cosmetic, simple upgrades, and tenant renewals. Below are some simple guidelines for an effective property maintenance system.

Preventative:

• Replace the leaky toilet system;
• Replace worn out faucets;
• Replace a run-down refrigerator;
• Replace an unsafe stove;
• Replace a leaky roof;
• Replace inefficient or a potentially harmful furnace;
• Schedule pest control care;
• Seal cracks to prevent loss of heat or pest intrusion;
• Clean or check the filter in gas heaters;
• Check air conditioning unit for efficiency.

Cosmetic:

• Cutting, trimming trees, flowers, etc.;
• Landscaping – for example, add crushed stone around the building for extra drainage;
• Painting – freshen up trim, walls, ceilings, floors, railings, lattices, and so forth;
• “Curb appeal;” planting flowers and shrubs, lightly washing the outside of the building.

Upgrades:

• Replace old, worn out carpet;
• Replace or install new floors;
• Add ceiling fan(s) to provide extra comfort during summer months;
• Add a microwave.

Renewed tenants:

• Repaint walls, moldings, casings, ceilings;
• Provide new window screens;
• For more ideas, see the long-term tenants of 3 years or more section 10 below.

7. Drive-by or Walk-around Property Inspections

Throughout the winter months, you should drive-by your property every two months. Particularly if you don’t live nearby. Other areas without snowy winters may require more or less property attention. During your drive-bys or walk-around inspections, look for obstructions on the front porch, on the deck or the entranceway.

And depending on your geographic location, pay attention to the condition of the property’s lawn, flowers, and shrubs. In the spring, summer and fall a monthly drive-by or walk-around is sufficient. Below is a list of items to check:

• Bees nest – If it’s small and you know you can remove it safely then do so. The best time to remove a bee’s nest is in the morning. It’s cold and the bees are not flying in and out as much. If you’re unsure ask the person at the local hardware store for help. Pick up a can of bee spray eradicator while you’re there. However, a professional pest control company is the easiest solution to remove the nest safely.
• Clutter on the front and back porches or decks;
• Water to the outside hose is turned off;
• Lawn is mowed;
• Do you need to paint the exterior of the house, steps, fire escape, garage, etc.?
• Do you need to tar or replace the drive way or roof?
• Observe any illegal or excessive activity by the tenants.

Are people going in and out of the property to frequently?

• If the tenant happens to be outside ask if they have any concerns or requests.

8. Walk through Inspections

Property inspections are a positive way to build strong relationships with your good tenants. Tenants who call with small problems are often viewed as pesky tenants. However, inspections performed quarterly or bi-annually will likely make your tenants more comfortable. Good tenants prefer telling you their maintenance problems in person rather than over the phone. You can also correct most tenant problems immediately.

9. Death in the Family

Acknowledging a good tenants loss is a courteous and warm gesture. Send the tenant(s) a sympathy card, a bouquet of flowers, or a catered platter of food. This goes a long way towards building a long-lasting relationship with your tenant(s).

10. Long-term Tenants of Three Years or More

If you have developed a positive, respectful relationship with your tenant and they renew their lease, than consider their renewal a job well done on your part. Tenants who renew and have been in good standing with you over the last few years will appreciate some updated interior features. Below are a few ideas to make your tenant feel good while increasing your property’s value at the same time.

• Install new carpeting;
• Paint walls, casings, or ceilings;
• Add a used dishwasher or replace the existing one;
• Add a paper towel holder;
• Add a garbage disposal or replace the existing one;
• Provide new screens;
• Provide new light fixtures;
• Provide a new medicine cabinet; or
• Provide a new toilet seat.

11. Good Tenants Recommending Other Possible Tenants

Good tenants will gladly recommend other tenants because the new tenants will become their neighbors. Besides, your property is the tenant’s home and they are more apt to suggest helpful, pleasant, compatible neighbors. In addition, establishing a finder’s fee program is an excellent incentive to encourage your tenants to introduce you to responsible, prospective renters allowing you to minimize your advertising costs and the hassles related to finding new renters, while potentially signing on another good tenant.

Certainly, any finder’s fee program should be in writing, and possibly reviewed by your attorney, so that both the landlord and tenant understand how the program works, specifically how and when fees are to be paid. Retaining good tenants could create an endless pipeline of prospective tenants for you by your tenant’s word of mouth rather than employing traditional, cost-prohibitive methods.

One warning: The same due diligence should be followed with any tenants referred to you by tenants presently renting from you so that you don’t run into problems later on.

12. Provide your good tenant(s) an Information For Your Apartment Form

The Information For Your Apartment Form is important when you or your property manager cannot be reached. Below is a list of subjects the form should include:

• Window areas;
• Appliances;
• Heat;
• Air conditioning unit;
• Security;
• Plumbing;
• Electrical;
• Floors;
• Rubbish;
• Walls and ceilings;
• Miscellaneous;
• Emergency phone numbers;
• Contact manager information.

You can view, the complete form at [http://www.my-real-estate-software.com/apartment.html], so you can keep your good tenants happy and prevent those annoying middle of the night phone calls!

As you begin to integrate these suggestions into the management of your property or properties, you’ll learn how to keep good tenants. When you respect, train, and show some generosity you will create a win-win relationship for the both of you that can last over twenty years or more. Good luck and happy managing!

Article by D. Maurice. D. Maurice is the Webmaster of real estate software, my-real-estate-software.com [http://my-real-estate-software.com], a resource of Professional real estate Software for the Property Rental Manager, Landlord, Investor, Realtor. Real estate software used to Acquire It, Manage It, Market It, and Maximize PROFITS! Please visit her site for more free tips and software used to build your real estate portfolio.

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