As a, Phoenix Property Manager, we understand that as the owner of an investment property your goal is to see your rental home bring you in not only the cash you invested in the property but also to earn a profit. With that being said, to maintain any return on investment it is vital that you keep your rental property rented and properly maintained. One of the most common mistakes we see owner-landlords make is NOT setting up clear expectations with the tenant.Without setting clear lines of communication and expectation you may be going down a long difficult road.
Once the tenant has been screened and you, as you prepare the tenant to sign the lease it is imperative that he or she understand what you expect from them as tenant. You need to clearly communicate the rules that govern the lease, what you expect from the tenant and what happens when the rules are not followed especially if your home is in an HOA. Since the lease agreement is the document that will convey all of the rules that will determine how the tenant will behaves it is imperative it is correct at time of signing. If you have ever evicted a tenant, then you know that the contents of the lease agreement may determine the decision of the court. This means that you need to make your lease rock solid and clearly lays out your expectation and rules including late payments, HOA violations, notices of non-compliance, maintenance, and other items such as health and safety. You need to communicate to the tenants what they will owe you right from the start. Inform the tenant of the monthly reoccurring payment including and applicable taxes that are included. Since some tenants do not treat rent their rent payment as a priority it is a good idea to send a reminder email or statement as this may help with prompt payment. By setting clear expectations and not making exceptions to the rules you should be able to successfully manage your tenants. However if you if you still having difficulties with your tenant contact Real Property Management Phoenix Valley to help you!