Owning rental properties can be a great way to make largely passive income over a long period of time. While being a landlord certainly has its perks, the job does come with some challenges. One big challenge is figuring out how to ensure your tenants aren’t breaking the contract they signed at the origination of the lease. Here are a few ideas to help make this job a little easier.
For easy monitoring of your tenants, security cameras make a great option. An important caveat here is that you shouldn’t place cameras in areas that could violate the privacy of your tenants. Properly positioned, though, a security camera can give you a real-time view of what your tenants are up to so that you can ensure they’re playing by the rules. If you’re concerned about certain off-limits areas, you can install motion-activated cameras that alert you when someone activates them.
Talk to Neighbors
When you own a rental property, it’s essential to make friends with the people living close to the property. While this is a simple common courtesy, it can also help you keep track of your tenants through a property watch association. By officially recruiting nearby residents to watch your property, you can be sure that someone will see misbehavior that cameras might miss.
Talk to the Tenant
Sometimes, the easiest way to find out what your tenant is doing is to talk to the tenant face-to-face. Although tenants will typically paint a rosy picture of their behavior, a simple conversation with them may reveal any concerning information. It could be that your tenant simply isn’t aware of a certain rule and has been doing something wrong without realizing it.
Inspect the Property
As the property owner, you have the right to inspect the property at almost any time. A quick inspection of the interior and exterior of your rental property can tell you a lot about whether or not your tenant is abiding by their contract. Unusual damage, excess wear and tear, foul odors, and other concerning problems can reveal what your tenant is doing when you’re not around. Of course, a clean inspection can also reveal a lot about your tenant’s lifestyle.
If you discover that your tenant is breaking their contract, it’s important to stay calm. Escalating the situation by angrily confronting your tenant will likely not result in the desired outcome. Instead, try to stick to the facts and keep a level head so that you can find a solution that will take care of the tenant and keep you financially viable as a landlord. To ensure your tenants aren’t breaking the contract they signed at the origination of the lease, consider working with these tips.