As a property investor, you can make some significant profits, but this all relies on your tenants.
With high-quality tenants, maximizing your profits will be much easier. However, if you have tenants who tend to violate their lease terms, it can lead to all kinds of issues. Ensuring they stick to the terms laid out is vital.
In this guide, we'll go over some key lease enforcement tips that will help you with your rental properties in Boise, ID. Let's dive in.
1. Find Quality Tenants
Tenant management can be quite tricky, but the better your tenants are, the easier it will be. Make sure you carry out thorough tenant screening before accepting any applicants so you can get tenants who are less likely to cause issues. A property manager can help you do this effectively.
Quality tenants are typically more likely to stick to the rules. Tenant screening can show if someone has a history of lease violation actions, so you can go with tenants who have a good track record.
2. Have a Strong Lease Agreement
While it may be easier to go with a standard lease agreement for all tenants, this may not be the most effective solution. It's best to draft a lease agreement each time you accept a tenant and be clear about your duties as well as theirs.
You should include information about:
- Rent amounts
- Rent due dates
- Accepted payment methods
- Late fees
- Required notice for moving out
- Maintenance responsibilities
- Any other expectations
Being clear about all of these is crucial. It will help prevent misunderstandings that can lead to lease violations.
3. Clear Communication
Maintaining an open line of communication with your tenants is a great way to improve rental property enforcement. There will be less confusion about your expectations and anything else.
Send emails in advance of maintenance or property inspections. Make sure your tenant knows they can contact you if they have any issues. This will help build trust and reduce the chance of violations.
4. Be Consistent
Consistency in lease enforcement is vital. For example, if you allow one tenant to have pets, you shouldn't restrict another without good reason.
Don't let one tenant get away with lease violations, or others will think they can do the same. This can quickly result in a lot of issues that will be difficult to deal with.
5. Know Your Laws
Make sure you understand federal and Idaho housing laws. This will help give you a better idea of when your tenants are doing anything wrong while also ensuring you stay compliant. If you need to take any legal lease actions, having an experienced property manager in your corner can be invaluable due to their in-depth knowledge of property law.
Professional Lease Enforcement
Lease enforcement isn't always easy, so you may want to get assistance from a professional. A property management company can help ensure your tenants don't violate lease agreements and can take action when they do.
Wave Property Management can assist with lease enforcement and various other services in Boise, ID. We have hundreds of five-star reviews from our many satisfied clients, and you could be next.
Check out our property management page for more information.
