Tip #188: Parting Ways
It’s easy to lose money when tenants move out.
Here are 3 ways to avoid costly move-out mistakes:
1. Do not agree to allow the tenants to apply the security deposit to last month’s rent. The fact that they are asking to do that is a sure sign that something is broken!
2. Do not allow the tenants to leave without walking through the property together, after all their stuff is out. Schedule a specific time and date a couple weeks in advance, and remind the tenant that you are coming through.
3. Do not move the next tenant in before you have recorded any damage that occurred from the last tenant.
See last week’s Landlord Quick Tip.
American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.