The first of the month is always a good time for landlords. That's when you collect rent!
But do all your tenants pay on time? In California, approximately 87.2% of tenants do. The rest don't.
If your tenants don't pay on time, there's a chance they aren't following other rules, too. In this case, you need to learn how to prioritize lease enforcement.
Enforcing the lease is crucial for your operations and cash flow. Hiring a property management company is the best solution. Here are the top things to understand about property management services for lease enforcement.
What Is Lease Enforcement?
Lease enforcement is the process of requiring tenants to do what they agree to. A lease states rules about various things, including:
- Rent amount and due date
- Caring for units
- Tenant responsibilities
- Pet responsibilities
Enforcing the leases might require confrontation. For example, you must approach tenants about issues if they don't follow the lease. Failing to do so might cause tenants to continue making the same mistakes.
Of course, you can enforce the lease yourself. A better option is to hire a lease enforcement service company. Hiring it out transfers the duties to someone else.
Why Is It Important?
Around 55.5% of California residents live in homes they own. The rest of the residents rent. While this leaves a large pool of tenants, you might not find great tenants for every unit.
Great tenants follow their lease rules. Poor tenants might not. Unfortunately, you can experience a plethora of problems with poor tenants.
One such problem is a failure to abide by the lease rules. Lease enforcement services address these issues.
Addressing lease violations is crucial for several reasons:
- Ensures positive cash flow
- Holds tenants accountable for their actions
- Reduces problems with other tenants
- Minimizes damage to units
Look for property management companies in Irvine, CA. They offer assistance with this duty.
How Can a Property Management Firm Help?
Property management firms assist landlords with their duties. Lease enforcement is one of these tasks. When you hire property managers for this purpose, they will do several things.
First, they'll learn your lease rules. They'll know your rules and expectations, which is necessary to enforce them.
Secondly, they create procedures for addressing the issues. For example, what should happen when a tenant doesn't pay their rent? You could use these steps:
- Send the tenant a letter
- Charge a late fee
- Visit the tenant's apartment
- File for eviction
Property managers create systems for each potential problem. Then, they follow them.
The result is that tenants begin following the lease rules. If they continuously break the rules, the property manager will follow through with eviction.
Ready to Get Help?
PMI Patron is a property management firm serving the Irving, CA, Area since 2018. We specialize in offering friendly and prompt services to rental property owners.
If you need assistance with lease enforcement for your properties, call us. We can help with this task and any other property management activities.
Your properties will hold their values and look great through proper lease enforcement.