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 is mostly impacted by habitability laws. It is these laws that govern the general condition of a rental property — if it’s not a hazard 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. Depending on the location, this could also be the case, even after the tenant has moved in.
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. These requirements need to be found in your rental home in order for it to be categorized as habitable under certain laws of your state or local municipality.
Tenant Satisfaction and the Law
Tenants, understandably so, will expect you to keep your property well maintained while they are living there. If you don’t, then you can expect high tenant turnover, leading to more expenses to find new tenants monthly. 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 helps in keeping the monthly costs low, as well as makes 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. Maintaining a property is easier when both parties are interested in keeping the property in 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 Houston property management companies like Real Property Management West offer industry experts with in-depth knowledge of landlord-tenant laws. They can make assessments regarding the status and trajectory of your rental, and they can also help with maintenance, repairs, and tenant relations. Hire a professional property management company. It might cost you, but that’s a tiny price to pay for your peace of mind.
Would you like to learn more about our Houston property management services? Contact us online or call at 832-532-9800 today!