Not only will satisfied tenants stay in your rental property longer, thus reducing turnover costs, but they will also help you protect your investment as well. You can eventually increase your profits annually, especially if you learn how to work with the landlord-tenant laws to affect tenant satisfaction.
Habitability Laws
As a landlord, you have both rights and legal obligations toward your tenant. Many different laws govern rental properties at all levels of government. Tenant longevity, however, is mostly dependent on the laws of habitability. These laws are responsible for making sure that the rental property is a good enough place to live in. For example, in most states, landlords are required to keep their rental homes habitable and safe. This means that the property must not have serious deficiencies like broken plumbing and heating, fixtures, and appliances. Pests and insects must also not be present on the property. This could even be true when the tenant has already moved in, depending on the location.
As a rule, repairs must be done promptly, and in some places, you must also provide standard safety equipment such as carbon monoxide detectors and fire extinguishers. If your rental home is not fully compliant with any of these requirements, it may be considered uninhabitable under certain laws of your state or local municipality.
Tenant Satisfaction and the Law
Tenants will expect you to stick to your responsibilities in keeping the property in good condition while they live there. Failure to do so will lead to high tenant turnover, which means you will need to spend more monthly to find new tenants. It may also result in expensive lawsuits or other legal problems, especially if your rental home is not compliant with landlord-tenant law.
As a result, successful property owners know that high tenant satisfaction is just good business. Keeping a tenant in a rental long-term will mitigate your costs and ensures monthly rental income. Aside from that, a satisfied tenant is more likely to help bring up issues in maintenance and repair so that you can quickly deal with them. Keeping your property becomes easier when your tenants feel just as responsible for maintaining the property’s good condition.
Finding Peace of Mind
Understanding landlord-tenant laws can be daunting, especially when you’re not certain if you’re complying with every single one. Peace of mind can only be attained when you have a team of experts working on these details for you. Professional Jefferson property management companies like Real Property Management Stellar offer industry experts with in-depth knowledge of landlord-tenant laws. Anything you need from making assessments of your rental to maintenance, to repairs, and even tenant relations — they can help. In the end, the peace of mind that a professional property management company can give you is worth any cost.
Would you like to learn more about our Jefferson property management services? Contact us online or call at 706-864-5456 today!