3 Common Mistakes Southwest Washington Landlords Make When Renting Their Property

Owning rental property in Southwest Washington can be a good way to earn some rental income in the short-term as well as impressive returns in the long-term. However, it also comes with risks. Mistakes are easy to make, and unfortunately, those mistakes are usually expensive. 

As a professional property management company , we want to help you avoid those mistakes. Today, we are talking about the three most common mistakes that we see landlords make when they are renting out their properties.

We see a lot of landlords listing their property for rent and accepting an application as soon as someone shows interest in the home. A prospective tenant might look good on paper. It’s a big mistake to simply approve the tenant based on what the application reflects. You don’t want to let a tenant move into your property without thoroughly screening that resident. 

What could happen? 

Well, there could be any number of problems. Maybe they’ll stop paying rent or they won’t respond to your attempts at contact. Maybe they’ll violate the lease agreement or damage the property. When a problem does arise and the landlord goes back to look at the application more carefully, some key pieces of information may not add up. 

You want to look at an application carefully, and you want to verify things like prior rental history, employment, and other details. Otherwise, you’ll be left with a tenant who is already living in your home. That’s a bigger problem. Take time to screen your tenants before you approve them for your property. 

The second most common mistake we see is a landlord who moves in a tenant without the proper paperwork. There are very specific laws that govern what kind of lease you use and what information is included in that lease. It’s important that you’re using a legally compliant and enforceable lease agreement. 

This is a litigious risk for landlords. Washington State is generally tenant-friendly and you have to protect yourself. Be careful with the leasing process. If you don’t have the accurate paperwork, you could find yourself in trouble with the courts. That’s not a place you want to be. Make sure you can access the right documents to protect yourself and your property. 

Finally, we have noticed that landlords often have a tendency to not prepare the house for rent. Sometimes, you might think a quick clean is all that’s needed. You can find yourself dealing with an unhappy tenant or a long vacancy period if you refuse to do painting or install new carpet. Tenants want to move into a home that’s habitable, functional, and attractive. Make sure it’s ready for the rental market before you even list it. Don’t bother showing a property that isn’t well-maintained and in good condition. It will only waste your time.  

For more information on avoiding these common mistakes, please feel free to contact us at SunWorld Group. We’d be happy to serve as your Southwest Washington property management resource.  

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