Keep Your Rental Property from Getting Damaged

We’ve all seen the frightening images of hoarders on reality TV, but it’s hard to imagine actually knowing someone who might suffer from the condition. Even worse, it’s hard to imagine that someone might be living like that IN YOUR RENTAL PROPERTY.

 

The first step to detecting a hoarder is to understand the condition. Hoarding syndrome is defined as: “Collecting excessive quantities of poorly useable items of little value, failing to discard items, and difficulty organizing tasks.”

 

A red flag might be if your tenant has a lot of “things” piled up that seemingly have no monetary value, yet they refuse to discard of it. For example, if there are piles of what appear to be trash in a yard, but it’s never brought to the curb for pickup. Also a home with a strong, foul odor could be the result of rotting food and garbage. Be wary of any tenant who constantly makes excuses to delay home inspections, or is never around to let you voluntarily enter the home.

 

 

 

 

People with this condition could be hoarding piles of “things” that matter to them, and live in such a way that all furniture, floors, and rooms are piled with junk. There arealso animal hoarders, who take in dozens or hundreds of dogs, cats or other pets. Either situation would be disastrous for you, the property owner.

 

Believe it or not, this “common” psychiatric condition affects an estimated 700k to 1.4 million Americans, and few are actually receiving treatment. Researchers say that hoarding in older adults can be quite dangerous to ones health, as it creates conditions suitable for fires, falls, unsanitary living, and inability to property care for oneself (eat, use the toilet, leave the home). It can also attract vermin or insects (if spoiled food is being hoarded), which is a detriment to sanitation and health.

 

If neighbors are complaining to you about excessive animals, trash or strange smells, take the claims very seriously. Evicting any tenant can be time consuming an expensive, but cleaning up after a hoarder can cost tens of thousands of dollars in waste removal alone.

 

To avoid renting to a hoarder, find out how to properly screen your tenants and what other red flags to look for by visiting our website today!

 

We’d love to hear your tenant nightmare story! Enter to win our Tenant Horror Story Contest today to become eligible to win $400 in FREE tenant screening services!

 

Why your tenants are moving out (And how to get them to stay)

Retaining good tenants is a great way to save yourself a lot of money. If you have a mortgage on your rental property, pay for advertising , cleaning and painting services, then you know vacancies can get quite expensive.  You need to find out if losing a good tenant is worth several hundreds or thousands of dollars from your bottom line.

 

Save money by retaining tenants

 

1. If you have reliable tenants who give you 30 or 60 days notice without reason, follow-up with them in person to find out why they are moving, and determine if there’s something you can do to change their mind.

 

2. If they tell you the rental is too small, perhaps you own another property with more square footage that you can offer when it becomes available. Or, offer to provide a large, secure shed on the property. Better yet, offer to add more shelving to closets and garage areas.

 

3. If they tell you they want something “newer”, offer to put some money into those upgrades you’ve been avoiding.

 

4. If they tell you the rent is too high, perhaps weigh the pros and cons of lowering it. Offering a $20/month discount for one year might be enough incentive for them to reconsider. After all, moving is expensive and a lot of work. Your tenant might be inclined to stay put in order to save a couple hundred bucks, rather than shell out thousands on a deposit, movers, and setting up utilities. Plus, even if you lose $240 for a year, it still could be much more if you have a vacancy for 1-2 months.

 

For this and more landlord tools, visit ATS Inc.’s website today!

Pros of renting to tenants with pets

In a competitive rental market, some real estate professionals might suggest you offer incentives such as free wifi, first months rent free, or a store gift card to qualified tenants just for signing a lease. Others say the solution could simpler: just allow pets.

While pets can be taboo for landlords because of the possibility they could damage your rental, they can also bring about some positive benefits to a property owner.

Let’s look at some of the Pros to allowing tenants to have pets:

·         Less vacancies

If you advertise your rental as “pet friendly,” chances are there will be greater interest in your property.  One study found that rentals allowing pets rented in 19 days, versus 29 days for non-pet-friendly units¹.   

·         More long-term rentals

The same study found that tenants with pets tended to rent for an average of 46 months, as opposed to non-pet-friendly units where the average tenant rented for 18 months.

·         More profit for landlords

Researchers also found that landlords who allow pets see more demand, and therefore can charge higher prices for monthly rent. How much higher? According to the survey, 20-30% higher rents.

Tenants allowed to have pets rent for twice as long as those who can’t

What is your stance on renting to a tenant with a pet? If you’ve had a positive experience, we want to hear about it. Comment below!

For more information about tenant screening, and other tools every new landlord or real estate investor needs, visit ATS Inc.’s website at http://www.alwaysscreen.com.

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Would you Invest in a Rental with a Pool?

There are many pros and cons to having rental property with a pool. While a pool can be an attractive amenity to many renters, an experienced landlord might also tell you they come with a big cost.

So, if you are real estate investor who is weighing to pros and cons of a property with a pool, here are some things to consider:

Rental properties with pools come with a cost

1.     Knowing the Rules There are federal, state, and local laws pertaining to pool safety , such as minimal fence height requirements and required inspections. It is your job to know the rules for your area and comply.

2.     Liability Even if you follow all of the proper safety precautions, you s

hould know that if someone is injured or drowns in your pool, it is likely a claim can be filed against you. Ultimately, the pool owner is responsible for the safety of those using it. You should make sure there is extra coverage to your homeowner’s insurance policy that specifically covers incidents related to the pool.

Also, you should also have specific pool safety rules added to your lease agreement, and review it with tenant signing.

3.     Maintenance Pool maintenance can be costly and time consuming. You have to make sure all of the chemicals are balanced properly and that the mechanical features of the pool are in working order.

Make sure you know beforehand what the maintenance will entail and how you plan to address it. Will you be checking the chlorine levels regularly? Do you have a trusted property manager or pool servicing company to use?  It’s important to have a plan in place before you invest and also set aside extra funds for the services.

A pool can bring added value to a home for the right renter, especially in warmer climates. It it’s important to make sure you know what you are getting into and have the diligence to deal with the responsibility if you plan to invest in a rental that comes equipped with one.

Visit ATS Inc's homepage to find out more about our tenant screening services!

It’s Spring! Time for Landlords to Clean Up The Yard

Today is the first official day of spring, and for many landlords and property owners this could be time to begin assessing your landscaping needs. While many landlords stipulate in their lease agreement that yard maintenance is the responsibility of the tenants, you might find yourself with a vacancy in the coming weeks and will want to fix up your property for new renters and new spring blooms.

Here is a spring to-do list for this year's inaugural yard cleanup:

1.     Rake leaves out of garden areas. Piles of dead leaves will suffocate your existing flowers and plants. Plus, cleaning out beds will give the yard a fresh look and showcase any returning blossoms to potential tenants. A handy leaf blower can help expedite this job.

2.     Trim back dead shrubs and flowers. If your hydrangea bushes still have last year’s dead blooms, trimming them off will only ensure healthy new buds in the coming months.  Tenants will be delighted when they notice lots of budding perennials.

3.     Clean out last year’s mulch. This will make room in your gardens for a fresh layer to be applied. New mulch makes any landscaping job appear well maintained. It’s also healthier for your plants.

4.     Assess the lawn. Spring is a good time to aerate and reseed the lawn to ensure thick growth all season long. If you noticed the property had a lackluster lawn during last year’s spring and summer, this is a good time to begin trying to make it better.

 

Remember the importance of curb appeal, as the yard could be the first thing potential tenants notice when they come for a tour of your rental property. Great looking landscaping only complements a great home, and having both will ensure you can justify charging a competitive monthly rent.

Visit ATS Inc's homepage to find out more about our tenant screening services!

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Questions to Ask When Pre-Screening Tenants

Before you hire professionals to conduct tenant screening services, you should always do a pre-screen of tenant applicants over the phone or in-person. The following are some questions you must ask during the initial screening to weed out any potential problem applicants:

1.     Make sure they can afford the rent. You need to make it clear how much the monthly rent and security deposit amount are to anyone interested in renting from you. Feel free to ask specifics about the applicant’s monthly income. As a landlord, you are within your rights to determine the minimum amount applicants must earn in order to qualify for residency consideration. A tenant who is confident in their ability to make monthly rent checks will not balk at income questions.

2.     Be clear about how what your tenant screening service provides. Any prospective tenant can lie about how much income they make and whether or not they have been convicted of a crime.  You need to make it clear during the pre-screening that all serious applicants must consent to a thorough background check that will include employment verification, past eviction searches and a credit report. You will find the applicants who haven’t been honest up front will most likely reconsider applying.

3.     Ask if they have any pets. If you are a landlord who allows pets in your rental, explain your guidelines from the beginning. Applicants should be told up-front how much extra the security deposit will be, and if you have any pet restrictions. Do you discriminate against certain dog breeds? Do you limit the number of animals per resident?

4.     Let them know how often you will be doing property inspections. Again, a tenant with nothing to hide will likely agree to whatever terms you set forth in the lease agreement. However, if the applicant had previous intentions of hiding a roommate or sneaking in pets without paying an extra deposit, they will probably be less inclined to go through with submitting a rental application.

Visit ATS Inc's homepage to find out more about our tenant screening services!

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Landlord Finds Child Porn on Tenant’s Computer

Earlier this month, an Oklahoma City man was arrested for downloading child pornography using the shared internet connection at his apartment complex. The situation was brought to the landlord’s attention when another tenant began experiencing problems on the shared wi-fi connection. When the landlord discovered child pornography was on the network, he notified authorities.

This case highlights some concerns that come with offering a shared internet network within a multi-housing unit. First, the only reason the suspect was identified was because he was the only tenant using a Windows computer. Authorities were able to establish that a Windows computer had been used in the crime. Had this not been the case, it would have been harder to identify which tenant was breaking the law. If all tenants had previously passed criminal background screenings, a landlord would be hard-pressed to determine which resident was currently breaking the law.

If you are a new landlord or property owner who offers free wi-fi service, it is important to establish some ground rules with your tenants.  Did you know some landlords have even been targeted in the past when their tenants illegally downloaded music on a shared server?  You need to make it clear in your lease agreement that tenants will be liable for any improper usage of the shared internet connection.  You might also want to establish a connection that requires username/passwords, to determine which residents are using the service and to deter their temptation to commit any cyber crimes.

Visit ATS Inc's homepage to find out more about our tenant screening services! 

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