One of the biggest mistakes that new landlords in Scottsdale make when renting out their property is renting it too quickly. No one likes the idea of having a unit that sits vacant because it can be a financial stressor. However, it is generally better to have a vacant unit than to have a unit occupied by a terrible tenant. The problems that a bad tenant can cause are vastly more destructive than waiting a few more weeks to find a qualified tenant. How can you know you are choosing the right candidate for the property though? You need to screen them thoroughly.
Landlords have a responsibility when it comes to keeping the properties they own and rent maintained and in good repair. Most landlords try to do a good job, but sometimes, they cannot handle the requests. Others put off the maintenance and hope that the tenants will stop contacting them. It’s a terrible practice, and one that will have repercussions. However, some owners are terrible at keeping their properties in good condition. It always comes back to bite them, sometimes through legal channels.
How to Handle Requests
Do you have a rental property in the Scottsdale area, or are you thinking about buying an investment property? If so, then you are probably pondering the question of whether you can handle everything on your own when it comes to renting out the unit. After all, simply renting a unit doesn’t seem too difficult. Find someone to rent it, set up a lease, and hand over the keys, right? Of course, you know that it’s nowhere near as easy as that. A property management company in Scottsdale can make a huge difference for the better.
Trying It Alone
While you might not like the idea of doing it, and your tenants will not exactly be thrilled at the prospect, there comes a time when you need to raise the rent. Landlords cannot simply raise the rent whenever they choose; they have to give the tenant proper notice, and they need to make sure that the new rent is still in line with the rest of the rents in the area. If they are too high, you can expect that the tenant will likely put in his or her 30-day notice. If you want to raise the rents and make sure that you still keep your tenants, you will want to remember the tips in this article.