God Property Manangement Companies in DC Advice On Your Tenants Criminal Actions and Your Liability

As a property manager, it’s necessary for you to protect your tenants from criminal actions and activities. If your tenant has a dangerous drug or runs drugs from your property, you could be held liable for those actions. While laws vary, here are some things you could be considered liable for as many property management companies in DC would advise.

Drugs and Other Criminal Actsm

While you are not expected to police your tenants or spy on them, if you become aware of criminal activity and allow it to continue on your property, you could be held accountable for tenants’ actions. By knowingly allowing a tenant to create or sell drugs, you risk either criminal or civil charges; penalties vary depending on where you live but in most states, you will be held at least somewhat responsible for tenant actions. Good screening and background checks can help cut the risk of getting a criminal tenant; knowing what is going on at each of your properties can also help you be aware of any potential issues and provides the opportunity to act as needed to protect yourself.

Failing to Protect Tenants

Your tenants may not engage in criminal activity, but if you fail to properly provide a secure home for your residents, you could be held responsible for their injuries and damages. Make sure any home you provide is up to date on all codes, fully equipped with fire safety items, and has the appropriate level of security — including exterior lighting and good-quality deadbolt locks. Changing the locks after each tenant no longer lives in your property is a must as well, since you could be exposing current tenants to added risk by allowing previous tenants a way to access the home.

Dangerous Dogs

If your tenant owns a dog that is dangerous and it harms someone else, you could be held liable for damages. Depending on where you live, your tenant could be in violation of breed legislation — allowing a banned breed to live on your property could expose you to litigation and other penalties.

Even dogs that are not outright banned can cause significant harm if they are not well trained or if they continue to live on your property after they have been identified as a dangerous animal. If the dog has already injured or bitten someone and it stays on your property, you could be held responsible if the dog bites again.m1

While dogs cause most animal injuries, other, more exotic animals can also cause injury possibly resulting in a costly lawsuit. Having a clear pet policy, actually seeing the resident pets for yourself, and confirming that they do not appear to pose a risk to others will help you mitigate risk. Good tenant screening can help as well; if you find that potential tenants have moved a lot or that they had issues in the past because of their pets, you will be better able to anticipate a problem.

Putting the right tenants in place at the start can help reduce or eliminate your risk, and taking prompt action when you discover a problem is essential, as well. By being proactive about crime and tenant safety, you protect the community from harm and reduce the chances you’re charged for the poor choices of your tenant.

Pets and your home value

On this opportunity we will talk about the link between pets, animals and your home value. If you want to know more about this specific topic, then you shall find everything you need to know about it on this article. All you need to do is to keep reading, and don’t worry, because you will find this article to be highly engaging and informative.

Pets are simply awesome. A good dog can be your companion for a lot of years, a very loyal one. All in all, pets can add a lot of value and happiness to our lives. Something similar happens when you have animals like sheep or chickens, they can bring you a monetary return if you decide to sell their wool or eggs respectively.

But did you know that pets and animals can cause a damage to your home value? We will explore more about this on this article, so you better stay right here!

The Cats

We will start by checking how cats can damage the value of your house. One of the biggest issues caused by cats is the damaged provoked to the floor. If their claws are not cut regularly, they can cause severe problems to the floor, and in order to repair it you will have to contract a flooring company, and this won’t be necessarily cheap.

They can also do a lot of damage to your walls. And if they urinate on the floors, then this will do a cumulative damage that will destroy the floor in some years, and calling a flooring company to fix this mess will be more than necessary.

If you want to rent your house, but recognize that it has been damaged by cats in the past, then you should get in contact with a property management company. Why? Because these companies have access to a network of companies and contractors who can offer you excellent solutions for a reasonable price. A company of this kind will help you to repair your house, so you can get it rented to good tenants as soon as possible.

Dogs

Dogs are a different case. If you have something small like a Chihuahua, then he may never cause any damage. The same applies to small poodles and other similar breeds. The problem comes when you have a very big dog at home, because they can really damage your property just like cats.

So if you want to preserve the value of your house yet want to get a dog, then you should go for a small or medium-size breed. This will avoid any potential problem in most cases. You will prevent your dogs from damaging the floor, walls and carpet.

The End:

We have reached the end line for this article. As you can see a pet or animal can do a lot of damage to your property. That’s why it’s important to prevent this or fix the damage before getting tenants for your house.

 

Things you need to know before hiring a property management company

Hiring one of these companies can be a tad harder than you think. A lot of people think that it’s as easy as searching online, choosing the top-ranking option and that’s it. But the reality is that things are not as easy as that. On this article we are going to explore all about this topic, so it’d be great if you could come with us.

The Fees:

This service will deduct around 5-12% of the monthly payment you receive for your rented properties, of course, only the ones they administer. You need to make sure you are paying a fair price, because anything above that range provided can be considered as abusive.

Most decent companies won’t bill you more than 12% per month, that’s why you should avoid paying more than that, because chances are you can find a company that will give you an equally or even better work for less than that. Always try to stay in the 5-12% range, never go higher than that and don’t trust companies which bill you less than 4%, because it may be a scam.

And another thing you need to verify before hiring a company is to see if they will bill you this so-called vacancy fee. Let’s suppose your tenant decides to leave the house and it remains without tenant for around 2 months. Then some companies won’t care about it and will bill you the typical fee anyway or a flat-fee which can be situated anywhere from $50 to $150 approx.

None likes to pay a vacancy fee, so make sure they won’t force you to pay it if the tenant abandons the house. In some cases the company will make you pay it, but will return it once they get a new tenant.

Anyway, be very careful when hiring one of these companies, because the last thing you want is to pay abusive monthly fees or an over-priced no-return vacancy fee. Be careful with this and you will be fine.

Maintenance:

One of the things you need to verify they include into the set of the service is the maintenance of the property. If you want this service is add more value to your house, so you can eventually rent it for a higher price, then you need to partner up with a property management company that offers this service.

In fact, you won’t have many problems with this, because most companies of this kind offer this service. After all, they need to deliver some value for the monthly price you pay them.

And you also need to verify if they have access to a good group of contractors. You need to make sure they can help you if you ever needed to upgrade your house. A decent and reputable company of this kind won’t have any problem helping you with this matter, but first you need to make sure you are actually working with a company that’s reputable and effective.

 

Job and College Growth and Their Link To Rent Growth

Today we are going to talk about this interesting topic for all people who express interest in the property management and other related areas. But how are these two elements connected to rent growth? What’s the explanation for this? We will explain this in a practical and fast fashion on this article.

So if you want to learn about this, the unique thing you need to do is to invest a few minutes of your time. We can guarantee you that your invested time will be worth it. Guaranteed!

The Facts:

The reality is that when college entries and job grow, the same happens with rent. The reasons are very simple to understand, and we are going to lay them out in a simple manner.

The first thing we need to understand is that when the jobs decrease, the college enrollment typically increases. And this is something we can principally in the US, but we are pretty sure this same situation replicates itself in the rest of the world. The answer? It’s simple in fact: when there’s a lack of jobs, people return to colleges in order to acquire new skills, so they can become more competitive and get one of the scarce jobs.

The relationship between college enrollment and jobs growth is kind of strange: when one is high the other is low. But what’s the link with rent growth? We will explain this in the following section of this article.

The Explanation:

It’s simple, when college enrollment grows there’s a higher demand for student housing. And one of the interesting things is that student housing seems to have a very nice shield against recession. So even if there’s a somehow big drop in jobs, there will always be a higher college enrollment, which will at the same time help the rent growth.

And now it’s time to talk about the jobs. So far now we have seen why an increase in college enrollment is good for rent, but now it’s time to check the case of the jobs.

In order to explain this we have to notice that the economy in the US has been recovering since 2013. Before that time there was a kind of crisis in the rent sector, but since economy has been recovering, which has brought an increase in jobs, the rent market has experimented a better time.

And we will see the relationship better right here. Since the first quarter of 2016 we have experimented a little drop in our economy, and guess what? The rent market has suffered a loss in growth as well.

Conclusion:

We hope you learned something new from this article. First we saw the interesting relationship between college enrollment and jobs. Then we saw how the first one helps the rent market, and finally how the second one does its part. We hope you enjoyed this piece of content from beginning till end.