5 Tips for Shoreline, Wa. Landlords
Owning a commercial property is gaining popularity with each new day. This has translated into a rapid increase in the number of new landlords today. However, property management is not an easy task, especially to new landlords. Like any other business, you need to know simple ways that you can used to make property management easy and these tips for Shoreline landlords can help.
This is basically a written agreement between you and your tenants. This agreement should stipulate the rent amount and the payment terms to be followed. You should also make it clear in this agreement how disputes, repairs, maintenance and all other factors should be handled. This contract should be signed by both parties.
When choosing your Shoreline property manager, conduct a thorough background check on their managerial and human relation skills. You do not want a scenario where you are constantly solving issues between your manager and the tenants. A competent manager is one sure way to achieve a good relationship with your clients.
Before renting your Shoreline house to anybody, make sure you do your homework. The last thing you need is someone who does not honor the tenancy agreement and damages your property. Take time to screen each potential client. A written application can help you gather the information that you need.
Always make sure that the property is well maintained. Handle all repairs according to the contract and in good time. The contract should stipulate who bears the cost of the repairs.
Managing Security Deposits
It is important to come up with a good system of handling security deposits made by each tenant. Understand your rights and the rights of the tenant when it comes to security deposits.
Always make sure you are in good terms with your tenants to avoid a bad reputation. This, along with these other tips for Shoreline landlords, will help your property increase its value over time.
This blog is courtesy of Adrian Willanger at Coldwell Banker Danforth & Associates 206 909-7536 helping people buy and sale homes in the Greater Seattle area.