How Do Tenant Improvements Work

As you step into your rental property, you’ve noticed there have been a few changes made to the property by the tenant.

Two of the rooms have been repainted.

New shutters were added to the exterior.

Those cracks in the concrete steps have been repaired.

Landlords have two options when they discover improvements: they can accept them and the potentially added value they provide or reject them if unauthorized changes are forbidden due to the lease.

If rejected, changing the property back to its original condition can often be charged against the security deposit.

Tenants Do Not Get to Charge For Value

Improvements made by a tenant can often be written off as a tax expense for them because they did the work.

Landlords cannot take any tax deductions from accepted improvements and may wind up having an increased tax burden if the improvements increase the value of the property.

This is often why landlords attempt to reject improvements that are made.

Tenants have a case to fight against improvement rejection for a number of common reasons.

1. The paint they used was the same color that was already in the home or room that was improved.

2. Flooring needed to be repaired anyway and they just did it without notification.

3. There was a safety concern in the home that the tenants resolved on their own.

If you have white walls in your home and the tenant paints them red, then that could be an improvement that would possibly be rejected.

If the white walls are still white, but with a new layer of paint, then the improvement must generally be accepted.

Tenants Have No Right to Claim Value

The issue that landlords face is that some tenants expect to be compensated for their work when they move out.

They use the improvements as a bargaining chip to have their full security deposit returned.

This isn’t necessary in a vast majority of cases. A tenant may have spent $1,000 giving a property new paint, but if they left the property without cleaning it properly, then landlords have the right to charge for that service.

Tenants cannot sue a landlord for the value of the improvements if they were taken on voluntarily and there wasn’t a health or safety issue that required the repair.

Even cracks in concrete steps won’t qualify unless it was a health or safety issue.

Tenant improvements are generally one of those things that are nice to see.

As long as the property hasn’t been altered dramatically, it is generally a best practice to accept them and prepare the property for a new tenant.

Understanding Landlord Harassment

As a landlord, you can be accused of harassment if your actions motivate a tenant to willingly abandon the lease.

This usually occurs when a landlord wants to evict a tenant but doesn’t want to go incur the cost and trouble of a legal eviction.

Landlord harassment generally involves interfering with a tenants’ privacy or making them feel unsafe or uncomfortable.

Breach of Responsibility
If you fail to properly maintain a property, a tenant may have a claim for landlord harassment.

A rental agreement implies a “warranty of habitability,” which means that you have accepted a responsibility to keep the property properly maintained.

If you willingly withhold maintenance, such as routine repairs, garbage collection, or landscaping (if that is part of your rental agreement), you are not fulfilling your responsibility as a landlord.

It’s easy to imagine a situation in which a landlord might withhold maintenance if they are dealing with a difficult tenant.

However, it’s not a good idea to expose yourself to this kind of liability just to send a message to a tenant.

Creating a Nuisance
Another type of landlord harassment involves creating a nuisance, such as sending a lot of verbal or written complaints about a tenant’s behavior.

Other examples of creating a nuisance include damaging or defacing the rental property or a tenant’s belongings, or doing something to make the tenants feel uncomfortable, like purposely making a lot of loud noise.

If you want to evict a tenant for improper behavior, do not try to intimidate the tenant into moving out.

It’s always best to follow the proper channels to communicate problems with a tenant.

Entering the Property
Entering the property can also qualify as landlord harassment.

Local jurisdictions generally have laws that limit how often and for what reason a landlord can enter a tenant’s property.

As a landlord, you have the right to inspect the dwelling a few times per year for the purpose of maintaining the property.

However, this doesn’t give you the right to snoop through their things while you’re there.

It’s also important to remember that even though you own the property, the tenant has legal possession of it.

You must give the tenant proper notification that you need to enter the dwelling, and the frequency of your visits should be reasonable depending on the repairs or maintenance needed.

Stating Rights to Access in the Lease
Some jurisdictions require leases to explicitly state the circumstances under which a landlord may enter the premises.

Even if you are not required to do so by law, you should consider putting a clause about this in the lease.

State in the lease that you have the right to enter the residence for the purposes of making an inspection, making repairs or to show the residence to a prospective tenant or purchaser.

Be aware that the tenant has the right to limit these visits to a reasonable frequency, and you never have the right to enter the property without an appointment.

Abandonment of the Property
If a tenant appears to have abandoned a property, you can get a court order that allows you to enter it.

However, this can be tricky in a few cases.

For example, when tenants are moving out, they may leave things in the apartment with the intention of returning to clean it up.

But if you think they have vacated the premises, you might come in ahead of them and try to charge them for cleaning up the mess they left.

Tenants may also travel for extended periods of time, and this can cause confusion about whether or not they have abandoned the property.

Encourage your tenants to communicate with you to avoid confusion in these situations.

Conclusion
In general, you can protect yourself from being accused of harassment by keeping the lines of communication open between you and your tenants.

If you have a problem with a tenant, don’t try to handle it on your own.

Always follow the proper procedure for documenting tenant problems and notifying them of any problems.

 

How To Verify an Identity

Whether it is for a job, a rental property, or for a child care supervision need, knowing how to verify an identity is essential knowledge for today.

Identity verification helps to protect your interests because you’ll know the person you’re considering really is who they say they are.

The most common way to accomplish this is with a background check, but there are some other options available to you as well.

1. Request Identification That Can Be Validated.

There are several forms of identification that can be used to determine if someone is actually who they say they are.

In the United States, a Social Security card is one of the most common pieces of identification that are used.

A driver’s license, a military identification, or a passport may also be used to help determine the validity of an identity.

2. Use Reverse Email Searches.

If you have someone’s email address, even if it is a public email system like Outlook or Gmail, it can be used to trace down someone’s identity.

You’ll need to hire someone to do this task for you, but it can work when information is difficult to locate.

3. Look For Public Records.

There are many public records that are open for examination and many people don’t realize this.

Any time there is a judgment, there will be a public record of this.

Marriage records are also public records, as are divorce records.

Sometimes even birth records are public, although the specific data may be limited, such as the birth date.

4. Consider Ancestry Software.

Genealogy has exploded in popularity, which means access to public records that can trace a person’s movements are also easier to access than ever before.

If your background checks are coming up empty, try using the available data you have about someone and then match it up with the data from their application.

In most instances, if someone’s identity cannot be verified, then you do not have to hire them or agree to rental terms.

Follow these steps and you’ll be able to verify the identities of most individuals.

Top 7 ways to ensure a tenant’s smooth departure

The best way to ensure tenants’ smooth departure is to begin planning for it before the tenants move in — before you have even met them.

Starting early allows you to attach a rider to the lease, so tenants will know what to expect when they move out.

If you did not prepare early, the good news is that it is never too late to start.

Here are seven effective ways to ensure that tenants depart smoothly.

  1. When tenants sign their lease, attach a rider that amounts to a checklist of expectations the tenants must meet to get their security deposit back when they move out. The list can be numbered with a blank space to the left of each item for tenants to check.
  2. Send the tenants a move-out reminder no more than 30 days before their last day to thank them for giving notice of their departure. The reminder should also contain the checklist from the lease rider, if you have one, or a list of your expectations, such as removing personal items, vacuuming the carpet, reporting any damage in writing, and returning the keys to you after vacating the premises. This reminder should also wish the tenants luck in their future home.
  3. Schedule an inspection to take place three to five days before the tenants’ last day. The move-out reminder letter or checklist can request that the tenants call or email you to schedule this. Try to accommodate the tenants’ schedule as much as possible; while it is not strictly necessary to have a walk-through before they move out, it is a good idea.
  4. If you did not attach a checklist to the tenants’ lease or to the move-out reminder, create one now. You can also use a template. Landlord Station has pre- and post-lease inventory checklists. Your checklist should contain essentials such as walls being clean and the same color as when tenants moved in (unless prior permission to paint a new color was given), electrical systems working, windows cleaned and smoke alarms working properly.
  5. Show up on time for the walk-through inspection. If the relationship has been pleasant, bring the tenant a small token of thanks as a gesture of goodwill. One possibility is a gift card for $20 to $100. Alternatively, depending on your relationship with the tenant, you could bring a handmade gift or baked treats. If you anticipate major issues with the walk-through, it may be best to wait until afterward to see if a gift is appropriate.
  6. During the walk-through, give the tenant a copy of the checklist, and discuss any items that come up or requirements that cannot be met. Depending on the situation, the tenant may be able to remedy something before moving out. If there is damage, take photos that show the date or use a Polaroid camera with images that print out immediately. Have the tenant initial them.
  7. If you expect that you will not be able to return part or all of the tenants’ security deposit, explain why and estimate how much. If the tenants end up owing you money, provide them with various payment methods. If necessary, explain that you will send them a bill, and ask for their new address.

Bonus tip: Know the difference between damage and wear and tear.

Landlords cannot subtract wear and tear amounts from security deposits.

Examples of wear and tear include a thinning carpet, faded paint, and small scratches on the wall.

Examples of damage include permanently stained carpet, water spots on the wall caused by hanging plants, and an excessive number of holes in the walls that will require patching or repainting.

5 Mistakes Landlords Make With Incoming Tenants

Most property managers feel a huge weight lifted off of their shoulders when they begin to get calls from people interested in renting out a property.

The likelihood that an empty property will soon start generating money is enough to put a smile on anyone’s face.

Unfortunately, there are several mistakes that property managers make when bringing in new tenants.

These mistakes can potentially land you in hot water, so avoiding them is essential.

1. Not Making Disclosures to Tenants
Although laws may vary, each state has disclosure requirements related to incoming tenants.

These are rules about information that a landlord must disclose before renting out a unit.

For example, in horror movies, you have probably seen instances in which real estate agents disclosed recent deaths in a household; this is a real requirement in some states.

It’s important to note, though, that there will likely be other things that must be disclosed.

Laws about lead paint disclosure, for instance, are very common.

Additionally, landlords may have to disclose the presence of mold or even sex offenders that they know of who live in the area.

Knowing these state-specific laws is essential.

2. Mistakes in The Screening Process
There are a host of screening errors that can lead to less-than-satisfactory tenants moving in or even legal action being taken.

The Federal Fair Housing Act, for instance, prohibits property managers from asking certain questions that may be viewed as discriminatory.

Questions that seem to focus on familial status, religion, national origin, or other protected statuses could land you in court.

Landlords may also make mistakes when conducting screening related to background checks.

If you’re not careful, you could end up using an untrustworthy background check website that doesn’t discover all relevant information.

Fortunately, there is online property management software that can perform the appropriate background check with ease.

3. Not Correcting Potentially Dangerous Conditions
One potentially serious mistake is not correcting known hazardous conditions.

While it may seem like a hassle to fill in the hole the last tenant’s dog dug, fix the deadbolt while the lower lock still works, or provide sufficient outdoor lighting in a neighborhood with criminal activity, failing to fix any of these situations can land a property manager in court.

In most areas, landlords are required by law to create safe environments for their tenants.

If they fail to do so, they could be held responsible for damages.

In the end, it’s simply safer to correct all hazardous conditions before handing the keys over to a new tenant.

4. Rental Application Errors
Another common error when bringing in new tenants is related to rental applications.

Many landlords simply download the first application they come across on Google and continue using it forever. Unfortunately, these applications may be outdated, and in many cases, language contained in these “one-size-fits-all” applications may not even correlate with your state’s laws.

Additionally, creating your own application harbors the same potential dangers.

You run the risk of inputting language that simply cannot be upheld legally in your area.

Fortunately, many of the aforementioned property management software suites provide state-specific rental applications.

5. Letting Your Mouth Write The Checks
In an effort to quickly rent out a property in an improving economy, it becomes second nature to speak highly of a property and even make promises that certain improvements will be made.

Once these promises are made, though, it’s essential that you follow through.

Even if these promises aren’t in the lease, the incoming tenant can break the lease or take you to court for the value of the difference.

Without the promise directly written in the lease, there’s no guarantee that they’ll win, but the time and money expended dealing with this issue is hardly worth it.

Being a property manager is an undoubtedly difficult job, but the aforementioned mistakes can turn a tedious task into a nearly impossible one.

Fortunately, all of these mistakes are easily avoidable.

With just a few proactive measures and the right tools at your side, your mistakes with incoming tenants can become a thing of the past.

Investment Property Checklist: What to Look for Before Buying

The single largest purchase most Americans make is a house.

When buying investment property, you repeat that purchase to scale — many times if you’re successful.

Before you sign for an investment property, however, you’ll want to be reasonably certain that the unit will turn a profit.

Here are a few things to check out before you make an offer.

1. Location! Location! Location!

In real estate, it is all about location.

A home on one side of a street might go for 50 percent more than a home on the opposite side.

In New York City, the median rental price for a one-bedroom unit is $4,200 in Tribeca, while the neighboring Lower East Side offers a much more affordable median price of only $2,570.

One block can put a property in the highly desirable Tribeca area or the much less in-demand area of the Lower East Side.

2. Check the Tax Rate

Property taxes may be deductible, but they can also eat up a large portion of the profit on a rental.

In some cases, the taxes on commercial property are much higher than on homes for personal use.

Additionally, some properties have temporary tax credits in place that keep the valuation lower for a set period. The last thing you want is to face a sudden balloon on the property tax assessment.

3. Good Schools Are a Plus

When buying a property to live in, you should always check the surrounding schools, and the same goes when buying an investment property.

Good school districts often mean a more stable housing environment, which can play an important role when you eventually decide to sell.

Plus, they might act as a draw for tenants that have or are considering a family.

4. Crime Rates

Crime can devalue your property and make it harder to find tenants.

Everything from petty theft to vandalism can become a problem if it happens too frequently. If crime is an issue, be sure to look for trends that might indicate a neighborhood improvement.

If crime is on a downturn, it might pay to buy into the community while it’s undervalued. Run a thorough check on all of the crime reports and trends for the area before buying.

5. Vacancy Rates

If there are many empty units, you might not want to buy in that area.

Lots of units mean lots of competition for tenants, which often means lower rents.

The less competition there is from other landlords, the more likely you are to be able to start your property off as a profitable endeavor.

6. Average Rental Rates

To find a profitable investment, you need to know what you can expect a property to bring in on a monthly basis.

Be sure to look at the price per bedroom and per square foot when trying decide.

No two properties are the same, so a very spacious one-bedroom might bring in almost as much as a cramped two-bedroom. Look at the return based on square footage to get a better idea of the potential return on a particular property.

7. Inspect Thoroughly

A house can come with a lot of problems that might not be obvious during a casual walk-through.

Look for signs of water damage, check outlets for possible electrical issues, ask about recent repairs, etc.

Also, be sure to work with an inspector that knows you want a complete repair list. If you know about upcoming maintenance, you can plan for the expense.

When investing in real estate, you can earn back the purchase price in rental fees and reap rewards at the end when you sell the property.

The challenge lies in choosing the right property for your investment. Follow these tips to help narrow down the options.

Managing expectations for outgoing tenants

Few people enjoy moving. Whether it involves a rental or a home you own, moving can be an expensive hassle.

The same is true for your leased properties.

The turnover process can be a fraught time, with conflict, confusion and surprise expenses.

It doesn’t have to be, though.

With a bit of planning and lots of communication, you will be able to have a smooth turnover process with your outgoing tenants.

Communicate Early and Often
As with many aspects of the landlord-tenant relationship, communication is key.

As part your workflow as a landlord, you should regularly be in touch with your tenants.

This will help you stay on top of issues with the property and identify any problems with the tenants should they arise.

Discussing the tenant will be staying past the end of the lease should be a part of these conversations as the lease comes to a close.

Remind Tenants About the Terms of the Lease
What that communication looks like will depend on the terms of the lease.

Your lease should contain a clause establishing terms for providing notice.

Whether it’s 30, 60, or 90 days, you should remind the tenant about those terms.

Many tenants will have forgotten, or not have read them in the first place.

You should also remind your tenant about what the options are as the lease comes to an end.

Does the lease automatically shift to month-to-month? Does it have to be renewed for a full year? Will you be increasing the monthly rent?

These are all things that should be clear to all parties involved in the rental agreement, and should be made clear well in advance of any deadlines.

Establish and Confirm Move Out Logistics
If your tenant will be moving out, firmly establish a move out date.

Establishing this expectation early will make sure you have time to turnover the apartment before the next tenant arrives to take over.

Your current tenant might not start his or her next lease until the 1st of the next month, so if your lease ends on the last day of the previous one, you will want to make sure he or she is aware of that and plans the move accordingly.

Set Clear Expectations for Conditions
It is also important that all your tenants are aware of your expectations for what the property will look like when they leave.

The lease is your friend here. Remind the tenant of what was already agreed upon in terms of the condition of the property, and explain what that means for you.

Set the tenant up for success by explaining in detail what you will be looking for in your inspection.

Your tenant wants the security deposit back and will do whatever is necessary to get it.

If the tenant puts in the work to have the rental in good shape, it will save you cleaning time or money for a cleaning crew.

Be Prompt with the Security Deposit
As part of building your reputation as a landlord, it is critical to be fair and prompt with the security deposit.

If there are issues, be objective and transparent in how you calculate the docking of the deposit.

Regardless, send them the amount of the deposit they are owed within a reasonable and agreed upon amount of time.

Both of these practices will go a long way in establishing your professional reputation.

Following these tips will set you and your tenants up for success in the turnover process.

How To Ask a Tenant to Move Out

Some tenants are just problematic.

Others are great people, but there comes a time when change becomes necessary, and even the best tenants need to be asked to move out.

This can be a tricky process, especially if the rental arrangement has been a multi-year relationship.

The easiest way to start this process is to meet the tenant in a neutral location.

Offer to buy them some coffee or maybe even lunch.

Discuss your situation and why you need to have them move out of the property.

With enough notice, most tenants will move – though they won’t be happy about the need to move.

My Tenants Are Nice, But They’re Stubborn

If there is still a leasing agreement in place, landlords often need a legitimate reason to ask tenants to move.

If there isn’t one, then the lease stays in place until it expires.

Some tenants are stubborn and want to stay until the end of their lease.

Providing them with an incentive, such as a portion of their moving costs or agreeing to return the entire security deposit unless there is extensive damage, can help to prompt a move.

My Tenants Have Small Children

Kids or pets, for that matter, can make moving on short notice problematic.

There may be daycare concerns, a lack of available housing, and other issues which make finding an affordable rental next to impossible to achieve for certain families.

If you know in advance that your tenants need to move and they have kids, pets, or both, then reach out to other landlords about other rentals.

Being able to provide a housing alternative when asking tenants to leave can help relieve the anxiousness that many families have about moving.

Sometimes the Legal Process Must be Followed

Tenants may decide that they don’t want to move.

They might even decide to stop paying their rent.

You can keep asking them to move out, but ultimately it takes a court order to make that happen.

Make sure you are familiar with the entire eviction process to ensure no errors are made that can cause a tenant to have a prolonged amount of free rent.

Waiting just prolongs this process.

It is better to ask now and work with your tenants to get them moved out than to go through the costly eviction process.

How to Verify That a Renter Is Trustworthy When They Have No Credit History

If you’re only renting units or homes to tenants with an excellent credit history, you might be waiting a while before you get an acceptable application.

While it’s true that a good credit history normally equals timely payments, that’s not always the case.

There are many potential renters out there who haven’t yet had the opportunity to boost their credit score; they’re simply too young or too financially inexperienced to have any credit history worth mentioning.

Others may have flaws on their credit, but they’ve managed to bounce back from a rough patch and will be ideal renters in the future.

But how can you tell these renters apart from the troublesome ones?

There are a few ways to check a person’s trustworthiness, even without a credit history.

1. Ask for old payment records.
Oftentimes, even if a person has no credit history to speak of, they still have some form of past financial obligations that can vouch for their reliability.

You can ask them to provide these records as proof of their timely payment history.

It’s best, of course, to ask for old rent payment history from past landlords, but that’s not always an option.

In that case, any bill payment records will work.

Even a utility bill record will give you a good indication of a potential tenant’s past.

2. Ask for a large down payment.
If you’re still worried about the tenant paying on time each month, ask them for a larger down payment up front.

Because it’s difficult to rent without a credit history, most tenants will gladly put extra money down to secure a rental.

Many landlords use this money as a security deposit or apply it to the last month’s rent in the lease agreement.

Be sure and check local law regarding a large down payment.

3. Ask for references from past employers.
Regardless of credit history, you should always make sure your tenant has verifiable income.

You should verify employment with his or her current company, and you should also ask for references from past employers.

Legally, the questions you may ask employers may be limited, but you can usually ask if the applicant is eligible for rehire, which will give you a good indication of his or her prior work performance.

You don’t want a renter who is fired repeatedly from different jobs.

4. Ask for character references.
Since employers can’t give out much information about the tenant’s character, ask applicants for additional references to vouch for their dependability.

These shouldn’t be family members, though.

If possible, it’s best if references are honest people whose names you recognize in the community.

If that’s not possible, friends, past or present coworkers, teachers, or other professional acquaintances are always good options.

5. Verify their income.
There are several ways to verify a tenant’s income, and you should pursue at least one of them.

You can ask for past pay stubs or old tax records, such as W-2s or 1099s.

You can also request bank statement records.

Of course, their employer can also verify their income through an employment verification request.

Once you’re satisfied that the prospective tenant is honest and reliable, there’s nothing holding you back from extending a lease agreement offer to them.

As long as you verify their history, income and character, you’ll likely have an excellent renter with little to no problems in the future.

How To Get Tenants to Pay Rent on Time

One of the biggest problems that landlords face is getting tenants to pay their rent on time.

You can speak with them every month about making late payments and it doesn’t do any good.

If you’re tired of having your words go in one ear and out the other, then here is how to get a tenant to pay rent on time in a more proactive, strategic manner.

1. Create a Rental Discount.

If you are having tenants consistently pay their rent late, then maybe it’s time to develop a new leasing agreement.

Add $50-$100 to the amount of rent that you plan to charge.

If the tenants pay their rent before the due date or on time, then they get to have this additional amount discounted from their monthly rent.

If they pay late, then they are subjected to this higher rent.

Some landlord/tenant laws require this additional amount to be a late fee, so make sure you structure your leases according to local regulations.

2. Lower Rental Amounts For Renewals.

This might hurt your bottom line a little, but it can also help to promote more on-time payments and better tenants.

Many markets have high rent levels that are a struggle for households to afford.

Consider adding an addendum to your leasing agreements which creates a lower rent after 12 consecutive on-time or early payments.

You’ll keep vacancy rates lower over time as the changes filter on down and though you might have a lower margin, you may wind up with more overall profits.

3. Setup ACH Rental Payments.

Lenders are using automatic payments as a way to guarantee payments and finding great success with it.

You might be able to do this with your tenants as well.

Create a time when the amount for rent will be withdrawn from the tenant’s bank account every month.

If problematic tenants are willing to sign up for this service, consider giving them a 5-10% discount on their rent since they’re doing you a favor.

This will give you a better chance of making sure you get paid.

Now ACH payments are only as good as the amount of money that happens to be in the bank account.

Not every tenant will have the needed rent payment available at the time of withdrawal.

Make sure you have a clear and precise return payment or rejected payment policy so that you can begin the eviction process immediately and have a way to recover the fees that may come when a full payment cannot be made.

4. Offer To Build Up Their Credit Score.

Many renters are in a place where they could use a boost in their credit.

They might be renting because of a foreclosure, a bankruptcy, or because of prolonged unemployment.

Landlords have access to services that will report on-time rental payments to the major credit bureaus and increase a credit score over time.

This also works in the opposite way as well.

You’ll also be reporting payments that were not paid on time and that can negatively affect a tenant’s credit score.

5. Hand Out a Holiday Bonus.

Do you think you can take out $5-$10 from the rent that is getting paid every month?

If you can, then consider putting this cash into an interest bearing account.

When an on-time payment is made, put the amount into this account. You might even consider matching the funds.

At the $10 rate and if you decided to match the funds that are in the account, then up to $240 could be given to a tenant at the end of the year.

They’ll have some extra cash for the holidays and you’ll be getting more on-time payments.

If you don’t want to cut tenants a check, you could put the amount onto a gift card as well.

6. Consider Different Rental Payment Arrangements.

Maybe your tenants struggle to pay their rent on the first of the month.

Some self-employed or contract workers might not know when their outstanding invoices will be filled.

By being flexible with the rental date, you may find tenants are better able to meet their contractual obligations.

That doesn’t mean you should have a floating payment date every month because that would make evictions nearly impossible.

It does mean that your due date doesn’t have to be the 1st of the month.

7. Make It Easier To Pay.

Do you have a slot for tenants to pay with a check at your office?

Is there a website you have that can process payments after hours?

If you can expand your collection areas, methods, and types of payment accepted, then you’ve got a chance to improve the number of on-time payments that you could receive.

If you have a grace period for rental payments, then a tenant isn’t late on rent until that grace period expires.

You can say rent is due on the 1st of the month, but if you have a fee-free grace period up until the 5th of the month, then rent isn’t legally due until then.

If you’re tired of tracking down tenants month after month, then consider removing any grace periods and implementing these ideas to create a proactive environment instead.

It could help you improve the profitability of your rental properties.