People are always looking for a way to make a quick buck, and the rising popularity of short-term apartment or home rentals can be enticing to tenants hoping to pad their monthly income. Unfortunately, short-term subletting can create a host of problems for you as a landlord. Your property management company can be a valuable ally in the fight against subletting.
Be sure that your property manager is willing to engage in the following activities to ensure short-term subletting doesn't leave your property in disrepair.
1. Proper Contract Preparation
The fight against short-term subletting begins with using rental contracts that contain language prohibiting such activities. Your property manager needs to prepare rental agreements that contain clauses specifically banning the practice of subletting out your rental property.
The rental agreement signed by tenants living in your property also needs to outline the negative consequences associated with subletting. These consequences can include financial responsibility for all damages to your property and immediate eviction should subletting take place.
Having the proper contract in place allows you to work in coordination with your property manager to take swift and immediate action to prevent subletting from becoming a problem within your property.
2. Tenant Screening
Having the right tenants in place can also be a great way to prevent short-term subletting from becoming a problem. As a landlord, you want responsible tenants living in your property. It can be challenging to vet potential tenants yourself, so you should rely on your property management company to provide screening services.
Be sure your property manager has a thorough application process that includes both criminal background and credit checks. The property manager should also be contacting each of the references and former landlords listed on a rental application to get a feel for which tenants will be least likely to break the terms of the rental agreement, which should include the prohibition of subletting.
3. Routine Property Checks
Once your tenants have moved in, it's essential that you work with a property management company that is willing to stay in close contact with the tenant over time. Routine property checks should be conducted to look for signs of short-term subletting.
These property checks can also prove beneficial in identifying maintenance issues that need to be addressed to keep your rental property in good condition. A hands-on property manager will allow you to rest easy knowing that your property is filled with quality tenants who are abiding by the terms of their rental agreement. Visit a site like http://www.APMdenver.com for more information.