If you own a let property, with any luck trouble-ridden tenancies will not plague you, however the unfortunate truth is that you may not always be so lucky.
Landlords are commonly faced with problem tenants who abuse their landlord's trust by failing to pay rent on time or destroying the property, or who disrupt the neighbours with inconsiderate behaviour, and should any of those scenarios, or other problematic situations, befall you, immediate action is vital.
Without immediate, confident action on your part, problem tenants can convert your moneymaking venture into financial devastation.
A vital step in safeguarding yourself against problem tenants is to do your utmost to avoid them in the first place, hence the importance of running a comprehensive check on all candidates before they become your tenants.
The information you receive from credit and background checks will help you determine whether a candidate, at least on paper, will make a suitable tenant.
Obviously, if the checks reveal a history of personal or financial instability, it is safe to assume the candidate is not someone you want living in your property.
An additional safeguard is to ensure all the necessary rental documents are in place and that suitable insurance coverage exists.
This means you and the tenants must retain signed copies of the lease agreement, property inventory and code of conduct -- all of which must be correctly drafted in case you have to depend on the paperwork to defend yourself against a problem tenancy -- and that the property is fully protected with landlords property insurance.
The key components of insurance for landlords -- building insurance, contents insurance, legal liability coverage and rent guarantee -- are designed to safeguard landlords against the financial hardship that problem tenants can cause.
Establish a good relationship with your tenants from the outset, which means treating them professionally and attentively.
If they contact you with an issue that requires your attention, attend to the issue immediately.
Remember, if you treat your tenants with respect, they are more likely to respond in kind and treat you and your property with respect, whereas if they feel neglected they are more likely to lash out against you and possibly refuse to pay rent or destroy your property.
Should a problem, such as overdue rent, disruptive behaviour or lack of care shown to the property, become apparent, do not ignore the problem and assume it will resolve itself.
Prompt action on your part is crucial, but at the same time you need to act in a professional manner.
Threatening your tenants, changing the locks on the front door or accessing the property without permission is not the solution, particularly since any harassing behaviour on your part will only give your tenants ammunition to use in their favour and an excuse to file a lawsuit against you.
Rather, if a problem arises, call your tenants and try to work with them to reach a solution, and if your tenants refuse to cooperate, follow up the call with a polite but firmly worded letter.
Meanwhile, create a written record detailing the problem and actions taken to resolve it, and save copies of any mail you send to the tenants, so you can refer to the documents along with the lease paperwork if the problem remains unresolved and legal action becomes necessary.
If gone unchecked, a problem will only escalate and possibly lead to new ones as your tenants continue to disregard and take advantage of you, so once it becomes apparent your attempts at dealing with the problem in a reasoned manner have failed, it is time to take a harsher stance.
Consult with a landlord's association, solicitor or eviction service to determine your best course of action, and if that action is to start eviction proceedings make sure you comply within the law, so you do not hurt your chances of success.
Remember, eviction proceedings are complicated and lengthy, so you cannot afford to make mistakes.
Landlords are commonly faced with problem tenants who abuse their landlord's trust by failing to pay rent on time or destroying the property, or who disrupt the neighbours with inconsiderate behaviour, and should any of those scenarios, or other problematic situations, befall you, immediate action is vital.
Without immediate, confident action on your part, problem tenants can convert your moneymaking venture into financial devastation.
A vital step in safeguarding yourself against problem tenants is to do your utmost to avoid them in the first place, hence the importance of running a comprehensive check on all candidates before they become your tenants.
The information you receive from credit and background checks will help you determine whether a candidate, at least on paper, will make a suitable tenant.
Obviously, if the checks reveal a history of personal or financial instability, it is safe to assume the candidate is not someone you want living in your property.
An additional safeguard is to ensure all the necessary rental documents are in place and that suitable insurance coverage exists.
This means you and the tenants must retain signed copies of the lease agreement, property inventory and code of conduct -- all of which must be correctly drafted in case you have to depend on the paperwork to defend yourself against a problem tenancy -- and that the property is fully protected with landlords property insurance.
The key components of insurance for landlords -- building insurance, contents insurance, legal liability coverage and rent guarantee -- are designed to safeguard landlords against the financial hardship that problem tenants can cause.
Establish a good relationship with your tenants from the outset, which means treating them professionally and attentively.
If they contact you with an issue that requires your attention, attend to the issue immediately.
Remember, if you treat your tenants with respect, they are more likely to respond in kind and treat you and your property with respect, whereas if they feel neglected they are more likely to lash out against you and possibly refuse to pay rent or destroy your property.
Should a problem, such as overdue rent, disruptive behaviour or lack of care shown to the property, become apparent, do not ignore the problem and assume it will resolve itself.
Prompt action on your part is crucial, but at the same time you need to act in a professional manner.
Threatening your tenants, changing the locks on the front door or accessing the property without permission is not the solution, particularly since any harassing behaviour on your part will only give your tenants ammunition to use in their favour and an excuse to file a lawsuit against you.
Rather, if a problem arises, call your tenants and try to work with them to reach a solution, and if your tenants refuse to cooperate, follow up the call with a polite but firmly worded letter.
Meanwhile, create a written record detailing the problem and actions taken to resolve it, and save copies of any mail you send to the tenants, so you can refer to the documents along with the lease paperwork if the problem remains unresolved and legal action becomes necessary.
If gone unchecked, a problem will only escalate and possibly lead to new ones as your tenants continue to disregard and take advantage of you, so once it becomes apparent your attempts at dealing with the problem in a reasoned manner have failed, it is time to take a harsher stance.
Consult with a landlord's association, solicitor or eviction service to determine your best course of action, and if that action is to start eviction proceedings make sure you comply within the law, so you do not hurt your chances of success.
Remember, eviction proceedings are complicated and lengthy, so you cannot afford to make mistakes.