You’ve worked hard to build a portfolio of rental property over the years and you are looking forward to retirement, but the threat of crime at one or more of your properties is keeping you awake at night.
Here are 7 tips you can use to protect your rental properties from criminal activities.
Tip 1 – Conduct Frequent Inspections of All Your Properties
By making the effort to review the interior and exterior of your properties on a frequent basis, you will be able to stay on top of what’s happening in your rentals. This is by far and away the best way to see if there is a criminal activity such as drug use or distribution in your properties.
Tip 2 – Know Who Is Coming and Going from your Properties
You should make the effort to talk to tenants and do frequent drive-by inspections just to keep up with the comings and goings from your properties. Any sense that you have a high-traffic property or unit should be investigated immediately – this could be a sign of drug distribution or even manufacture at your property.
Tip 3 – Define How Long Visitors Can Stay
Your lease should include a clause that defines very clearly how long visitors can stay in your properties. Make this period relatively short – less than a week. Your lease should require that anyone staying longer than this “visitation period” must be screened and added to your lease.
Tip 4 – Make Sure All Tenants Follow the Rules
Always make sure that ALL of your tenants follow your rules. Don’t be afraid to use an infraction notice form to notify them when they’ve broken one or more of the rules. Consistent attention to compliance with your leases and your rules is the best way to keep your properties running smoothly.
Tip 5 – Get Rid Of Graffiti Fast
Ask your tenants to notify you immediately if vandals have tagged or sprayed graffiti on your rental property so you can remove it quickly.
Tip 6 – Start a Neighborhood Watch Program
It’s always a good idea to start a neighborhood watch program. Encourage your tenants to be a part of it especially long term tenants who are good examples to your other tenants.
Tip 7 – Keep Your Property Attractive
Finally, make the effort to keep your property and the area around it attractive. Mow the empty lot next door if you have one, clear trash from your property and the surrounding properties if you can, and report violations of housing or parking code in nearby properties. Make sure your property is maintained andLOOKS maintained and carefully managed - it will ward off the bad guys.
About SquareHouse Property Management
At SquareHouse Property Management we work exclusively with intentional investors – property owners who are committed to operating and building a portfolio of income producing real estate.
Learn more about the services we can offer you by calling us at (972) 523-1389 or click here to connect with us online.