At T.J. Guyer, we manage rental properties in Washington State from Vancouver to Tacoma, and today we are talking about the four most common mistakes landlords make in the management of rental properties.
Tenant choice is extremely important, and sometimes landlords move a little too fast when choosing a tenant. We look at many things when we are selecting tenants. We pay particular attention to how they paid their rent over the last several years and what shows up on the background check.
It’s a huge mistake not to set rules and guidelines for your tenant. You have to establish what you expect from your tenants and you should also have guidelines in place for what the tenants can and should expect from you. It’s important to address both sets of responsibilities.
You definitely don’t want to make any mistakes with your lease. A strong lease will spell everything out. Make sure you and your tenant know what everything in the lease means. There may be addenda in place that impact the landlord and the tenant as well.
Driving By Your Centralia Rental Property
Another common mistake is not driving by their property once in a while. The drive by piece is very important and it’s a mistake not to regularly take a look at your property. Once a tenant is in place, some landlords are only focused on whether the money is coming in. The most important thing you can do is drive by the property and make sure it is being taken care of. Check to see if the lawn is being mowed and the rules are being followed. We do this monthly and we also schedule regular inspections of the property’s interior as well.
These are the most common mistakes landlords make that you don’t want to make yourself. If you’d like more information about this topic or about Centralia property management, please contact us at T.J. Guyer, and we’d be happy to help you.