Everywhere you go, there are rules. Whether you’re at home or school or the mall, there are guidelines in place that people are expected to follow when present. Our society is structured around rules, and, without them, it wouldn’t be able to function. Your property is no different; when you allow a tenant to fill your vacancy, you expect them to pay the rent on time and respect your property in return. Everyone has their own rules for their rental, but consider these three popular rules.
1 Dealing with Late Rent
While you hope that you don’t have to deal with tenants not paying rent on time, you should always have a rule in place detailing how you’re going to deal with it. Including details about when you’ll enforce late payment fees in your lease is important, and it’s critical that you stick to whatever you decide. If you let a tenant off easy, they won’t respect the rule in the future.
2 Garbage Removal
While handling garbage removal may seem like a simple task, that may not be the case for everyone. Outline what is expected from tenants when it comes to taking care of the trash, from what day it is collected to where it goes. Also remind tenants not to leave trash lying around the property, especially if they’re planning on discarding big items such a sofas and mattresses, as that can hurt the units curb appeal and you could suffer a fine from the city if it gets out of hand.
3 Pet Policies
Whether or not you allow pets in your property, it’s important to outline this rule for tenants. If you do allow renters to bring their furry friends, make sure they know any other pet-related policies you have in place, from weight limits to damage to cleaning up after them.
These are just three rules to implement for your tenants, but the possibilities for more are endless. Be sure to outline what you expect from your renters, and stick to the guidelines that you set.