Just a couple more tips for owners of rental property, and without a doubt, if you follow our simple suggestions, the smooth running of your rental business and property management is a foregone conclusion.

1. A well-designed property insurance programme and sufficient liability must be purchased by landlords as a safeguard against lawsuits instigated by tenants for injuries suffered or for being discriminated against, or for rental property losses and damages caused by either, fire, storms, burglary or vandalism.
2. It is also essential that all landlord / tenant disputes be resolved, without resorting to unnecessary and expensive litigation. Any conflicts with a tenant over rent, repairs, your access to the rental unit, noise, or some such issue not warranting immediate eviction, should be settled in an informal manner by meeting with the tenant for working out the best possible solution. In case, that does not work, the next best thing is to consider neutral third party mediation, which is available at little or no cost from publicly funded programmes.If, the dispute is about money, and any attempts to reach agreement fail miserably, it would be worth your while to try a small claims court, where you can represent yourself. Small claims courts are useful for collecting unpaid rent or compensation for property damaged by a tenant, whose security deposit does not cover the extent of the damage.

To prevent undue hassles, the best solution for any landlord is to screen all prospective tenants, carefully. Visit www.e-renter.com for tenant screening and background checks.

The following useful suggestions go a long way to help any owner of rental property, run a smooth rental business, while effectively managing his / her property.

1. In the event, you have environmental hazards, such as, lead or mould on your property, the best strategy is to come clean and let your tenants know of their existence. Increasingly, landlords are being held responsible for any health problems tenants may experience, as a result of exposure to environmental toxins on the rental premises.
2. As well, if you have hired a property manager to look after your property, it is your responsibility to select and supervise them, carefully. Any manager, who commits a crime or is incompetent, should be held financially responsible. As with tenants, conduct a thorough background check on applicants for the post, while clearly spelling out a manager’s duties, so as to prevent problems later on.

However, the best tip of all is to screen your tenants carefully before letting out your place to them. Visit www.e-renter.com for help in screening tenants so that you can make a credit worthy selection for your rental property.

You will find our simple but useful suggestions will not only turn you into a successful landlord, but will also ensure your rental business runs smoothly, while showing you how to manage your property like a true professional. In Part III of our ten useful property management tips, we ask you to:

1. Provide safe and secure premises to your tenants, in order to avoid making them and your property, easy targets for criminals. You must thoroughly assess the security angle of your property, while taking reasonable and adequate steps to protect it. Ensure there are no dark or poorly lit areas inside or outside that could provide cover for break-in elements. Keep the landscaping well trimmed, while ensuring your property is brightly lit and all doors and windows are equipped with secure safety locks.
2. Respect your tenant’s privacy, notify him / her well in time (at least 24-hours or the minimum amount required by state law), whenever you need to enter the unit, either for carrying out repairs or maintenance, or else to show the unit to prospective tenants.

However, screening tenants before renting is the best solution for a successful rental business. Visit www.e-renter.com for all tenant screening needs.

As we continue with simple but useful suggestions for owners of rental property to ensure the smooth running of their rental business, including managing their property like true professionals, landlords must as under:

1. Proper Handling of Security Deposits is essential, and for that landlords must establish a transparently fair system of collecting, holding, and returning security deposits. One way of ensuring that the security deposit amount is fair and just, is to make a thorough inspection of the rental unit, while documenting its condition, before the tenant moves in, in order to avoid disputes over security deposits when he / she moves out.
2. Repairs must be made when requested so as to stay on top of the maintenance game. If, you fail to keep your rental property in good repair, you will not only alienate good tenants, but also give them the right to withhold rent, carry out repairs on their own, the cost of which they are legally entitled to deduct from the rent, or sue for injuries suffered due to prevailing defective conditions, and / or they may move out, thereby terminating their lease or rental agreement, without any legal requirement on their part to give notice.

To be successful in the rental business, you not only have to ensure you follow all rules and regulations governing the rental business, but you should also make tenant screening a part of your business strategy. A quick click of the mouse and you can visit www.e-renter.com for professional help in screening prospective tenants!

If, you are the owner of rental property, without doubt, the following simple suggestions will prove useful in ensuring the smooth running of your rental business and management of property.

1. Screen All Prospective Tenants
   A good landlord ensures that he always vets the credit history, references, and background of rental applicants, before selecting them as his / her tenants. Random, haphazard tenant screening and selection, more often than not results in problems. For example, a tenant, who habitually pays rent late or doesn’t pay at all, or likes to indulge in property damage, or permits undesirable friends to move in with him / her, is not the sort of tenant that any business-minded landlord wants. That is why it is so important for a landlord to get prospective tenants to fill out written rental applications to help in properly screening would-be tenants.
2. All Rental Property Relating Issues Should Be In Writing
   As a landlord, always ensure the lease or month-to-month rental agreement is on paper and all important landlord / tenant issues are documented in clear and precise terms. How tenant complaints and repair problems are to be handled, how much notice is to be given before entering a tenant’s rental unit, and the like, must all be part of the lease or agreement terms.

To ensure landlords don’t get involved in unnecessary litigation with troublesome tenants, it is very essential to vet and screen each rental applicant before renting out your expensive property. Visit www.e-renter.com for the best services in tenant screening exercises for help in selecting the best there is!

Other methods of advertising for tenants for your rental property include:

1. If, the rental units are close to a large university or college, a good idea would be to place your advertisements through their housing offices. The same can be done for property in the vicinity of big employers running employee assistance programmes. You will find that most college and corporate housing offices will list rentals free of cost or for a very small fee. Corporate housing is the best bet for landlords, since they can be assured of the fact that their prospective tenants hold regular jobs, and have passed the same screening tests (for the job) used by landlords. For example, you can be sure they have been vetted and former employers contacted for in-depth verification. No doubt, you will save time and effort by taking advantage of these ‘pre-screened’ applicants.

Next, there are some advertising methods that work pretty well for high-end properties or multiple units:

1. If, you have upscale rental property, it is best to let real estate offices handle your rentals, and but of course, they will do it, only for a fee. Often, you will find agents supplement their incomes through rental businesses, which also gives them a bead on potential homebuyers. It is quite possible; today’s tenant may metamorphose into tomorrow’s home buyer and their client. Real estate offices may charge about 10% of the rent i.e. equivalent of a month’s rent, while not only advertising, but showing, and occasionally selecting tenants, as well.

That apart, landlords should make themselves cognisant with all rules and regulations before drafting tenancy leases or rental agreements. They must also take all necessary precautions, such as, tenant screenings, background checks on prospective tenants, including making certain all rental lease clauses are adhered to, as insurance for a litigation free landlord / tenant relationship. A simple click of the mouse and any landlord or property manager can visit www.e-renter.com for their tenant screening and background check services. www.e-renter.com, the best tenant screening agency in America!

Now if you need to advertise for tenants for your rental property that is lying vacant, the following two methods are also useful.

1. Why not list it in Home Finders or Apartment Finding Services, which are extremely popular in some areas. In some cases, you may have to pay a fee to list your property; however, sometimes the tenant has to pay up when renting a listed property. If, the other approaches are not yielding results for you, why not give this one a shot.
2. Also, you would be surprised to find that small scale landlords, instead of advertising widely and spending considerable time screening potential tenants, prefer to market their rentals through word-of-mouth. Whenever, a rental falls vacant they ask their friends, colleagues, neighbours, and current tenants to spread the news of the vacancy. After all, any existing tenant living on your property will wish for decent neighbours.A landlord who is aware that a vacancy is coming up, can make it a point to visit or send a note to all his / her tenants, especially those you think well off, and ask them to spread the news amongst friends, relatives, colleagues, etc. about your available apartment.

That apart, landlords should make themselves cognisant with all rules and regulations before drafting tenancy leases or rental agreements. They must also take all necessary precautions, such as, tenant screenings, background checks on prospective tenants, including making certain all rental lease clauses are adhered to, as insurance for a litigation free landlord / tenant relationship. A simple click of the mouse and any landlord or property manager can visit www.e-renter.com to for their tenant screening and background check services. www.e-renter.com, the best tenant screening agency in America!

A couple of other popular methods of advertising for tenants is:

1. Another method of fishing out prospective tenants is to post your advertisement on public bulletin boards in neighbourhood grocery stores, Laundromats or coffeehouses. While, you are at it, why not include tear-off strips that have your phone number printed on them. However, before doing so, you must consider the fact, whether your rental property is the kind that will appeal to people who are regulars at establishments of this sort. If, you are the owner of a high-end rental unit, it is obvious you will not find any prospective tenants from amongst people who do their washing at the local Laundromat. In that case, why not put up your rental advertisement on the bulletin board of the high-end gym down the street, a place where you are most likely to find a number of takers for your rental property.
2. Using online rental services is a high-tech way of advertising for prospective tenants, nationally or regionally. To find one in your area, go online and do a google search for residential rentals. While, some will charge a fee for posting your rental ad. on the Internet, there are still a few out there, who will do it for free. All you have to do is to search for one that suits your needs.

That apart, landlords should make themselves cognisant with all rules and regulations before drafting tenancy leases or rental agreements. They must also take all necessary precautions, such as, tenant screenings, background checks on prospective tenants, including making certain all rental lease clauses are adhered to, as insurance for a litigation free landlord / tenant relationship. A simple click of the mouse and any landlord or property manager can visit www.e-renter.com for their tenant screening and background check services. www.e-renter.com, the best tenant screening agency in America!

A common mistake some new landlords make is to drop security deposits collected from tenants into their own personal chequing accounts. However, it is not a good idea to have money belonging to tenants mixed up with your own, unless and until it is being applied to cover unpaid rent or damage beyond normal wear and tear.

All states have strict rules covering security deposits, especially if you are a landlord in the Big Apple, which means you could be asking for trouble, since New York rules are some of the strictest in the entire country. New York state laws require landlords to hold security deposits in trust for their tenants. In other words, it means keeping tenant money safely segregated from your personal funds. The best thing to do is to open another bank account for keeping your tenants security deposits in. All you require is one separate account and not one for each tenant’s security deposit.

Don’t make the mistake of mixing tenant security deposit money with your own personal or business funds, as you run the risk of forfeiting the deposits. As well, desist from borrowing a tenant’s security deposit when you are desperately in need of funds, including pledging them, in order to qualify for the loan.

New York landlords should also be aware of a couple of rules governing security deposits, which are dependent on the size of their rental property, including whether it is rent regulated or not.

1. Security deposits collected from tenants of rent-stabilised and rent-controlled units must be deposited in a New York bank.
2. If, your building has six or more units, then again a New York bank account is required for keeping the tenants security deposits in. The same rule applies even if you own less than six units in the building, as the size of the building is the determining factor not the number of units.

That apart, landlords should make themselves cognisant with all rules and regulations before drafting tenancy leases or rental agreements. They must also take all necessary precautions, such as, tenant screenings, background checks on prospective tenants, including making certain all rental lease clauses are adhered to, as insurance for a litigation free landlord / tenant relationship. A simple click of the mouse and any landlord or property manager can visit www.e-renter.com for their tenant screening and background check services. www.e-renter.com, the best tenant screening agency in America!