Thinking about investing in rental properties? Like most investors you probably are concerned about encountering problems or issues with your rentals that you might not know how to resolve at first. Thankfully, in this article we will list for you the most common problems with rental properties and solutions for dealing with them.
Tenants Not Paying On Time
To avoid this common pitfall make sure that you establish with your tenants when rent is due, and then make it very clear that if they fail to pay by your due date, they will have to pay a late fee, or be evicted.
Another thing that you can do to avoid renting to tenants who don’t pay on time is to review a tenant’s credit report and search for things like missed payments, or their payment history, so you can get a good idea of the character of the person you might be renting to.
Property Falls Into Disrepair
This can happen when owning Central Valley Rental Properties because, most property owners fail to stay on top of property maintenance and make repairs when they are needed. To avoid this pitfall make sure you inspect the property quarterly, and make the effort to repair your rental or make badly needed improvements when your current tenants move out.
Last of all, but most important, another common pitfall that can come with owning Central Valley Rental Properties is when your tenants are frustrated with you because, you’ve failed to make repairs when you promised you would or you didn’t resolve other issues at the rental property that are affecting their quality of life.
Get Professional Property Management Here
For professional property management in the Central Valley contact RPM Central Valley today at (209) 572-2222 or click here to connect with us online.