5 Mistakes You Can Make When Leasing Your Property

Home / Property Management Tips / 5 Mistakes You Can Make When Leasing Your Property

When it comes to leasing your Fort Lauderdale property, it’s important to do it right the first time to ensure optimal maximum returns. The following are simple mistakes that many people tend to make when leasing their property.

Document Everythingleasing misttakes

Writing up a lease is very important. Your property manager needs to make sure that the rental agreement is for your specific state and situation. They will also need to make sure that the condition of your investment property is recorded via photos to ensure that if there are any new damages to your property, it can be property dealt with.

Verbal Contacts/Handshakes

When leasing your property it is important that it is leased though a proper agreement and not through handshakes and verbal contracts. Verbal agreements won’t hold up in court if something goes wrong. So always make sure that you or your property manager writes up a legal document.

Discrimination

When leasing it’s important to know your own rights when it comes to the anti-discrimination laws that are enforced by the state or country. See whether your property listing features all the information necessary which excludes certain groups such as no wheelchair access and so on. By listing all the things in your post you won’t seem like your discriminating against a person by asking questions when your property manager shows the property to prospective tenants.

Insure Yourself Property

One definite mistake that many people make is by not insuring their Fort Lauderdale apartment or property properly. Make sure your insurance policy focuses and covers everything from financial loss, accidents, damage and more. This way you aren’t out of pocket if the tenants don’t turn out how you thought they would.

It’s A Team Effort

Although you can handle the responsibilities of managing your property, it doesn’t mean you have to. With so many different details to keep track of its important that everything runs smoothly. Leasing out your Fort Lauderdale property by hiring a property manager is a great investment opportunity for you. Companies like Republic Property Management can easily take over full responsibility of your rental property and easily manage it for a long time to come. Many people don’t take the opportunity to hire a property manager and sometimes can miss out on the great benefits they offer.

Overall

When it comes to leasing your property by yourself or through your local Fort Lauderdale property management company, it is best not to make the mistakes that so many people do when leasing out their property.

Recommended Posts

Leave a Comment