When you’re a landlord, sometimes you can’t avoid that bad tenants would show up at your office doors every now and then. As a result, issues like damaged interiors and past-due rent checks occur.
But before you decide to send that eviction notice, know that it’s possible to fix most of these problems from the start. Here are a few landlord protection ideas to prevent dreaded incidents with tenants.
Screen Your Candidates Thoroughly
Before anything else, have interested applicants fill out an application. By doing so, you will be able to check the following factors and determine if they’re a good fit:
Landlord And Employment References
When evaluating a tenant’s ability and willingness to pay rent on time, a credit score may be one of the most important criteria. Tenants with good credit are more likely to be on time with rent because they have a history of making payments on time.
Learn The State Guidelines
Each state has its own rental laws. For example, the State of Michigan provides for the following:
Landlords are free to reject the application of a tenant on any factor except on age, race, nationality, sex, and physical and mental disability.
State Rent Rules
Follow the rules and procedures in Michigan if you need to raise the rent or evict a tenant who has not paid rent. Michigan law regulates several rent-related issues, such as how long a tenant has to pay rent (seven days in Michigan) or move before a landlord can evict them.
State Security Deposit Limits And Return Rules
There may be state law limitations on the amount of a deposit you can charge (one and a half months’ rent in Michigan), when the deposit must be returned (within 30 days after the tenant moves out), and other restrictions on deposits.
Get Landlord Insurance
As a Warren landlord, you face particular risks that require specialized insurance. Getting landlord insurance lets you enjoy the several benefits, depending on the type of insurance you decide to get.
Generally, some types of insurance protect your property when it’s damaged due to fire, hail, flood, and other damaging events. Others also cover damage inflicted by tenants, whether intentional or not.
Other types of insurance protect you when you rent an area of the property to a tenant.
Personal Injury Coverage
Sell Your House Fast For Cash
Need to sell your house in Warren, MI—fast? Don’t settle for less than you deserve because you need to sell quickly.
At Select Home Solution, we’re ready to take your property off your hands—in its current condition and in exchange for a fair cash offer. Whenever you’re ready to sell your home, we’ll be there.
Get cash for your house today. To learn more, contact us at (586) 256 0142.