Are you just getting started with owning rental property? If so, like most people you probably are concerned about problems that may come up during the process of owning those rentals.
Problems will come up but the good news is that there are solutions for those problems if you follow the tips in this article.
Problem #1 – 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.
Problem #2 – 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.
Problem #3 – Frustrated Tenants
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 Property Management For Your Rental Property
For professional property management contact RPM Central Valley today by calling us at (209) 572-2222 or click here to connect with us online.