Common Problems Landlords Face in Dealing with Their Tenants

Landlords and property managers always do their best to build a good relationship with their tenants, but sometimes, you also must deal with tenant problems. That is why it is important to be aware of those possible potential problems with tenants that a landlord might face before it happens so you would know how to deal with it once it occurred.

• Tenant not paying their rent on time. Admit it, but not all tenants can pay their rent on the said date that is written in the lease agreement. This is also the number one reason, that causes problems to the landlord or property manager. Rental payments are the most important part of their property, so not paying it on time, can make a serious dent in their wallet.
  • What to do to make tenants pay their rent on time?
    • You can offer lower rent to your long-term renters.
    • You can help them build their credit score if they pay their rents on time or before it's the due date.
    • Charge a late rent payment fee.
    • You and your tenants may sign-up with Smart Housing, a cloud-based property management software. Your tenants can pay their rent online thru Smart Housing Online Rent Payments where they can set-up automatic payment, this way, you will get paid on time because it will automatically be withdrawn from your resident's bank account and have rent paid on a date they specify each month.

• Damage to the property. There are cases of damage to the property caused by problem tenants, guests or pets. A landlord can legally charge the tenant for any damages.  One best way to prevent damage to the property is to have a regular property inspection. This will give the landlord an opportunity to flag needed repairs and fix damages promptly that are occurring.

• High tenant turnover. When there is high tenant turnover, it means lost rental income. Unscheduled repairs, cleaning, and upgrades mean an increase in your operating cost. There are things that landlords may do to prevent high tenant turnover, and here are the following:
  
  • Use Tenant Screening services to find a good tenant.
  • Be responsive to tenant issues quickly.
  • Maintain the property.
  • Build a good relationship with all your tenants.

• Security Deposit Issues. Sometimes tenants thought that they can use the security deposit to pay their last month's rent. The security deposit serves to protect the landlord if the tenant breaks or violates the terms of the lease or rental agreement. Smart Housing has a smart balance feature where landlords can keep security deposits until such time they need to take it or use it.