Does Your Waco Rental Property Have Unauthorized Residents?

Generally speaking, when you are the owner of a rental home in Waco, you have to know who your residents are. The key to great success stories in rental property investments is grounded upon properly screened and approved tenants. It becomes a problem then when unauthorized renters move in, putting you and your property in jeopardy, exposing you for the possibility of liabilities for which the lease and perhaps even your insurance does not cover. Preventing unauthorized residents can be a tricky matter to deal with, however, taking advantage and strictly implementing quality property management strategies is key.

Ideally, you want to start prevention plans and early detection prior to your tenants’ moving in day. It can be quite difficult to distinguish if the individuals that are coming in are just visiting or they are planning to move in for good. Prevention plans and early detection are the safer way to go about this circumstance than waiting for difficulties to transpire.

A good prevention plan for unauthorized renters includes four important tasks:

1. Your leasing process should include a thorough screening of all prospective tenants. Anyone over the age of 18 should be subject to a background check, regardless of their relationship to the primary renter.
2. It’s important to sign only quality tenants with a solid rental and income history and good references. Prior landlords and references should be contacted and interviewed, taking careful note of any warning signs in their past behavior or failure to uphold the terms of an agreement.
3. Quality leases with complete, specific language about unauthorized tenants should be used. Such a lease can address any anticipated risks or other major issues, and lay out clear expectations about who is allowed to live in the home and for how long.
4. Regular property evaluations are necessary to ensure that the terms of the lease are being met. More than anything else, knowing that they are being checked up on may help your renter stay vigilant in holding to the agreement they made with you.

We understand that this part of the process can be time-consuming and can be quite tedious to do, and not unless you have the right people and resources on your side, it can potentially be an expensive one as well.  Streamline your Waco rental property leasing process by contacting Real Property Management Apex. We can handle the leasing process from start to finish, ensuring that every renter in your rental homes is the best possible choice. Please contact us online or call us at 254-732-1599 for more information.