How to Protect Your Vacant Property

If you are a landlord or real estate investor whose rental property is going to be sitting empty in-between tenants, it’s important that you take the necessary steps to protect your investment.

First, you must inform your insurance company, especially if the rental is going to be empty for 30 or more days.  Your current policy might only cover the home for up to a month without renters. In some cases, your provider might offer an endorsement, or change to the policy, that adds coverage in the event something happens to the property while no one is living there.

Secondly, an empty rental could also be subject to vandalism, invasion, or even theft.  In order to minimalize the risks of these unfortunate events, visit the property regularly to inspect for any signs illegal trespassing. If you have a trusted neighbor, ask them to keep an eye on things to make sure nothing suspicious is occurring. Keep blinds on the windows and install timed lights inside so the property doesn’t always appear to be empty every evening.

Lastly, be aware of the elements. A home without habitants could be at-risk for issues that could go undetected and cause major problem, such as a fire, flood, or weather damage. Make sure you adjust the thermostat accordingly to prevent pipes from freezing in the winter or mold from growing in hot, moist climates. 

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

Follow ATS Inc on Twitter!

Eviction Secrets Revealed!

You might think evictions only happen to tenants who are financially irresponsible or those who can’t afford rent checks for one reason or another. However, sometimes evictions happen to very wealthy people who were just very bad tenants. That is why you must perform eviction checks on all your tenant applicants, regardless of their income level.

Last week, several media outlets reported that troubled star, Amanda Bynes, was evicted from her NYC apartment. Bynes, who is reportedly worth $4 million, was kicked out following an arrest and numerous complaints. Neighbors say she was smoking in the hallways and very rude to the doormen.

Whitney Houston’s daughter, Bobbi Kristina Brown, denied rumors she was evicted from her Georgia apartment last week. Brown, who is also reportedly worth several million dollars, claims she moved because of discord with neighbors. However, the neighbors claim Brown threw loud parties and they had to file at least 10 complaints with police and property management.

Eviction checks and landlord references  are imperative, because they can tell you invaluable things about a tenant that credit checks and employment history cannot.

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

Follow ATS Inc on Twitter!

Advertising Rental Property Online? Read this FIRST!

If you decide to advertise your rental property on free sites, such as Craigslist, or other real estate boards, there are a few things you should do to avoid headaches that come with online advertising.

First, protect yourself against spam. Do not provide your personal or professional email address in an online ad. Instead, have the messages come to you through web host, either by method of a personal inbox on the site or a forwarding system. You could also set up a designated email address for each property listing and have it send out an “auto-reply” with information about the rental, such as pet policies and tenant screening requirements. Also, attach an application. Only after you have established a dialogue with a legitimate tenant applicant who seems genuinely interested in your rental property, should you then exchange personal contact information.

Secondly, if the site doesn’t offer pictures (or even if does), ask the tenant applicant if they are familiar with the area of your rental property. Suggest they do a drive-by of the home to see if they are still interested in it before filling out an application. This will save you the time and trouble of conducting a background check and tenant screening if the person changes their mind after seeing the place.

Lastly, always make sure to include the rental price in your online listing. The first question on a prospective tenant’s mind is cost. If you don’t want to answer fifty to a hundred emails all asking the same question, make sure to include it in your property listing.

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

Follow ATS Inc on Twitter!

Lawmakers Write Bedbug Bill with Tenants and Landlords

Add Connecticut to the list of states that are trying to pass new laws to aid in the fight against bedbug infestations in rentals. To make sure the bill was written in fairness to both parties, Connecticut lawmakers met with both landlord and tenant legal representatives to hash out the details. If the bill passes the state Senate, both tenants and landlords would have some responsibility in ridding a rental home of a nasty bedbug invasion.

The bill calls for tenants to act responsibly by reporting any bedbug infestations immediately to their landlords. The tenants would also be responsible for preparing the living space for treatment by certified professionals. In turn, the landlords would be responsible for covering the cost of treatments until the pests are eradicated from the property. However, if the tenants do not cooperate with providing access to a qualified exterminator, they would have to assume the cost of treatments. The bill includes legal ramifications if either party does not comply.

Landlords also would not be able to rent out a home if they know it is infested with bedbugs, and has not yet been treated. They also have to inform prospective tenants of any treatments that occurred in the past 60 days.

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

Follow ATS Inc on Twitter!

Landlords Find Boa Constrictor in Rental

Last week, landlords in Indiana received a shock when they discovered a four-foot boa constrictor curled up in the bathroom of a recently vacated apartment. Thankfully, animal control officials were able to retrieve the snake and relocate it to a wildlife refuge area. 

Most landlords and property owners have no problem allowing tenants to live with cats or dogs in their rental unit, as long as there is full disclosure at the time of lease signing. However, perhaps not as many landlords are giving enough thought as to whether or not to allow exotic pets. Have you considered the liabilities that could come with having residents who don’t properly care for them?  For example, some exotic pets carry diseases that can transfer to humans, so do your homework before you allow anything.

Also, before you allow a tenant to keep any pet on your property, make sure it is legal. Some states have laws banning certain primates or big cats from being raised in captivity by private citizens. You should always stipulate in your lease agreement which pets are acceptable – dogs, cats, fish, snakes up to a certain size, etc. 

Don’t forget to also include a pet deposit requirement in the lease agreement. An extra $100 deposit will come in very handy if you have to call in the animal control specialists once the tenant vacates!

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