James Davies, CEO of self-service lettings agency, Upad gives six tips on finding and keeping great tenants. Some of the advice may result in a higher chance for destruction of your investment (e.g. “4. Lets with pets”).
To protect your investment, make sure to do a move-in walkthrough inspection with the tenant so they may participate in documenting the condition of the property. Let them know that they will have the opportunity to do a move-out inspection as a comparison. Be sure to store the report somewhere that both parties have equal access to it. This sets expectations early and lets both parties feel more protected from the other’s possible claims.