Stick to Your Lease! Tips From Charleston Property Managers
South Carolina rental properties are just empty homes without renters—but sometimes, your residents can be the most difficult aspect of being a successful property investor. While North Charleston rental homes require maintenance, sometimes keeping properties in excellent condition can seem easier than keeping your residents happy—especially when you have to enforce the rules.
Managing renters requires a balance of compassion and professionalism. Happy renters help investors generate more income from their rental properties—but not every resident follows the rules. Sometimes renters make it challenging (and less fun) to be a property owner. However, developing the skills to manage every resident situation can help investors navigate renter relationships.
Building lasting relationships with residents isn't easy! Learn how to find your balance (and improve your profits) when managing residents with these tips from the best Charleston property managers!
Keep in mind; we may be the best property managers in Charleston, but we aren't attorneys. This blog isn't intended as legal counsel: when you need real-time aid, get in touch with us here at Charleston Property Company or reach out to an attorney!
The Lease Is Your Guide
There are many reasons to make sure you have a thorough lease for every property in your North Charleston or Mount Pleasant portfolio. One critical reason is that the lease is your guide when managing renters!
When a dispute comes up, or a renter breaks the rules, referring back to the lease helps clear up any misinterpretations about the rules of living in your rental home.
- The lease is a concrete document that your resident agrees to follow then they signed it before moving into your property.
- As the property owner, you are also bound by the terms of the lease.
Since you and your resident are all obligated to follow the lease agreement, it becomes an impartial document to help support your responsibility to hold renters accountable while living in your property. When a conflict comes up, the lease is your guide!
Stick to the Terms
So, how does the lease guide you through conflicts with residents? Your lease must include details about the rules of your property and the consequences for violating those rules. When it's time to enforce late rental payment fees or send a notice about a rule violation, the lease provides the parameters for how property owners can take action when managing renters.
To make sure your lease is legal and can back you up when managing renters, make sure it provides details about:
- Late rental payments: The lease should document what qualifies as a late payment and the fee structure to apply when a renter has a past-due payment.
- Property maintenance: While it's the owner's responsibility to provide maintenance services, your residents also have a responsibility to keep your property in excellent condition. Make sure their duties (and penalties for failing to comply) are detailed in your lease.
- Pets: If you allow pets in your properties, your lease needs information about what kind of pets are allowed, pet deposits, cleaning up after pets, and other rules for renters to follow to keep a pet in your property.
- Noise and other behavior: Your residents have a responsibility to be good neighbors! The lease should include details about what's happen if you receive too many noise complaints or reports of illegal behavior.
If you own multiple Charleston properties, make sure the lease applies to the specifics of each property. Before finalizing a new renter or allowing them to move in, Charleston property managers recommend that owners review the lease with them—line by line—and get their signature to show that they agree to the terms for living in your rental home.
Property owners must be careful to follow the terms outlined in the lease, too. Avoid assessing aggressive fines or resorting to eviction before you've followed the steps outlined in the lease when addressing a situation with a renter.
In some cases, a rule violation could be the result of unforeseen circumstances. Charleston property investors can build better relationships with residents by listening to a situation, consulting the lease, and also considering compassion and flexibility with renters who need help.
It can be challenging to determine if a situation deserves some grace. However, working with your residents through disputes can go a long way toward building better, long-term relationships!
Remember: you are in charge. The lease is your guide, and positive renter relationships are a priority. If it makes sense to defer late fees for a struggling resident, the choice is yours!
Charleston Property Managers Handle Resident Relations for You!
The financial benefits of rental properties are too good to let challenging renter situations get in your way of long-term wealth! If dealing with the 'people' element of owning investment properties isn't appealing to you, let a Charleston property management company handle every detail.
Charleston Property Company manages renters before they even move into your property!
- From our marketing and screening process and throughout every renter's lease term, we place and manage the best residents for your property.
- Our lease process makes it simple for renters to understand the rules. If a problem comes up, we have the experience to enforce the rules and work with renters to build long-term relationships.
Contact us to learn more about how we help renters (and investors) have the best experience with your properties!