As you navigate life as a landlord, you’ll find some aspects of your job are met with some resistance by your tenants. One of those aspects is the ever common security deposit. While it’s an important part of the move in process, many tenants view it to be more of a scam–a method landlords use to force to them into sinking money into the rental property when they don’t actually need to. However, the purpose of a security deposit is actually quite the opposite! Here are a few suggestions on how to make security deposits easier and safer.
Get Everything in Writing
While this suggestion may sound a bit paranoid, it will truly help you in the long run. By making sure to write down every agreement, transaction and similar interaction you have with your tenant, you will be able to keep track of every aspect of your relationship and quickly clear up any issues that arise–especially where the security deposit is concerned. Be sure you are thorough as you record things. Write down not just what happened, but when it happened as well.
Interview Potential Renters
This step is important to implement before you even have anyone move in. When you allow a tenant into your property, you should know they will be reliable. That’s why it’s important to talk with any and all potential tenants beforehand. Look into their credit rating, overall reputation and general history. If they’re in the clear in all three categories, they’re worth considering for a potential lease and should be safer when it comes time to take care of the security deposit.
Look Around the Home
Many home rental companies in Las Vegas will recommend performing an inspection on the home before you put it on the market. However, this step is just as important right before you lease the home over to a tenant. Preferably, you’ll want to tour the home for damages together. Two sets of eyes are better than one. If either of you notice problems with the property, you can make a note of them and add them to your records before you start the repair process. Like all other documentation you’ll be making, this is just a “what if” measure in case your tenant tries to file false claims about the state of the property.
For more tips from one of the best home rental companies in Las Vegas, call RPM Las Vegas at (702) 478-8800 or visit their website.