I wrote this article on the 5 Deadly Mistakes Arlington Apartment Buyers might make, to help you learn from my experience and hopefully help you as an apartment owner avoid some of the costly missteps I’ve made and learned from.:
1. Failure to Properly Screen Tenants for Your Arlington Apartments.
Before you agree to lease an apartment unit to a new prospective tenant, be sure to check the following:
- Credit History
- References
- Background
2. Failure To Document Your Lease Arrangement In Writing.
Always have a written rental agreement setting out all the terms by which you are renting your Dallas area apartment to your tenant.
3. Failure to Handle Texas Multi-Family Property Security Deposits Properly.
Establish a good system for handling tenant security deposits. Your security deposit policy should be in writing and mada a part of any rental agreement your tenant signs.
4. Failure to Properly Inspect and Document Pre-Move Property Condition of Your Property.
Hold a formal meeting to physically inspect the premises, document the condition and any issues requiring repair and have the tenant sign a form stating that the property is being received in new, like-new, good or whatever condition the unit being rented is actually in.
5. Failure to Timely Make Repairs To Your Arlington Multi Family Units.
You need a system by which tenants can request repairs to their premises when things go wrong, and you should have a person or team who can handle repair requests in a timely manner.
