Landlord Rights You Should Know Before You Offer Townhouses For Rent
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As A New Landlord Who’s Just Listed Property on Townhouses For Rent Websites, What Are Some of My Rights as the Property Owner?
Sure, everyone talks about your overburdening responsibilities as a landlord, but what about your rights? Guess what, you have some, too. Not surprisingly, your rights as a landlord closely match your tenant's responsibilities. You have the right to:
- Receive the rent – on time and in full. Should your tenant have a problem with complying with this condition in a given month, you have the right to be notified in a timely fashion to prevent you from making financial commitments that may not be fulfilled.
- Receive notification when your tenants are going to be away for an extended period. A long vacation or business trip could mean your rental home will be unoccupied and waiting for Murphy's Law to take over. Murphy's Law: anything that can go wrong, will go wrong, always at the wrong time. With notification, you can check on your property to ensure it's in good shape while your tenant is away.
- Receive a repair request and notification in a timely fashion. Sometimes, tenants think they're “doing you a favor” by not immediately notifying you of a needed repair. However, sometimes, a small leak, for instance, becomes a raging water torrent and your formerly minor repair becomes a major cost project. Receiving timely notification of repairs gives you the opportunity to solve a small problem before it becomes a major issue.
- Have your tenants abide by all rental or lease terms and provide you appropriate notice if they're going to move to another rental home. Just as you are expected to notify your renters in a time frame that allows them to find other accommodations, you deserve to enjoy the same consideration. You'll need some time to make property improvements and locate new qualified tenants.
A successful landlord/tenant relationship dictates that both parties keep their agreements and provide a level of respect to each other.