What to do if Your Tenants Cause Damage to your Rental Property in Columbus, Lima, and/or nearby cities in Ohio.
There is a great deal to learn about the real estate investment business. While everything can look great about your investment property on paper, dealing with people is not so cut and dried as working with numbers. Whatever you do, do not skip any step in screening tenants, especially checking references and contacting previous landlords. Even with the most up-to-date and thorough screening processes, landlords can expect even the best tenants to cause some damage.
Tenants are the life bread of your business plan, and you must understand what kind of trouble you may face if you lack previous property management and don’t have strong people skills. By taking the time to understand the consequences, you will know where to focus your time and energy, and resources to avert damage to your investments before it ever occurs. Read on to discover what to do if your tenants cause damage to your rental property.
Read on to discover what to do if your tenants cause damage to your rental property in Columbus, Lima, and nearby cities.
The first thing you need to do if your tenants cause damage to your rental property is to carefully examine the rental unit to determine the cause of the damage. Unfortunately, accidents happen; even the best of tenants may cause unforeseen damage that goes beyond the normal wear and tear that is a part of the expense of owning rental properties. Other damages can occur when tenants fail to maintain their housing correctly. And while dealing with repairs is a necessary part of rental property management, landlords could prevent damage from angry tenants for tenants.
Once your tenants cause damage to your rental property and you have determined the cause, you will need to take steps to ensure the tenant pays the repair expenses they are responsible for following the terms outlined in the rental agreement. Often landlords deduct the total costs for such damages from security deposits at the end of the lease agreement. If the damage is extreme, you may need to take legal action against the tenants. Should your attorney or insurance company request the information, you will require photographic evidence and documentation of the damage and keep any estimates and receipts from the repairs.
If your tenants continually cause damage to your rental property in Columbus, Lima, and nearby cities, you should examine your property management skills and responsibility in maintaining tenant communications. Building a solid relationship with tenants can help avoid issues with deliberate damage and help maintain the integrity of your property. Additionally, knowing your rights and seeking help as options are what’s more beneficial.
Central Ohio Real Estate Investment LLC
Being in the real estate business, being able to manage our own rental properties, and having been part of the investment business for quite some time, CORI LLC has various ways to help. We know the laws that protect landlords like you and can help you with your rental agreements, and every other aspect of managing your investment properties, lowering the overall risks of damage ever happening. Let CORI LLC help you reduce your turnovers and repair expenses. Contact Us at Local 614-304-3366 / Toll-Free 1-888-815-5116.