Landlords: Ten Useful Property Management Tips – Part IV

The following useful suggestions go a long way to help any owner of rental property, run a smooth rental business , while effectively managing his / her property.

7. In the event, you have environmental hazards, such as, lead or mould on your property, the best strategy is to come clean and let your tenants know of their existence. Increasingly, landlords are being held responsible for any health problems tenants may experience, as a result of exposure to environmental toxins on the rental premises.
8. As well, if you have hired a property manager to look after your property, it is your responsibility to select and supervise them, carefully. Any manager, who commits a crime or is incompetent, should be held financially responsible. As with tenants, conduct a thorough background check on applicants for the post, while clearly spelling out a manager’s duties, so as to prevent problems later on.

However, the best tip of all is to screen your tenants carefully before letting out your place to them. Visit www.e-renter.com for help in screening tenants so that you can make a credit worthy selection for your rental property.