5 Must-Know Tips for New Landlords
When starting out, being a landlord can be challenging. There are numerous situations to consider and prepare for. We’ve compiled a list of questions asked by Landlords to help you with the important tasks of being a landlord.
1. How to evict someone out of your house?
An important question we hear from landlords is, “How do I evict someone out of my house?” The first step is to post the property with a demand for rent or compliance, whatever the issue may be. There is usually a set amount of time in which this needs to be remedied. If it is not, then you can move forward, with filing the eviction with the courts.
2. How long can a tenant stay without paying rent?
A question we’ve been getting asked recently is “How long can a tenant stay in my property without paying rent?” Well, under the current circumstances, things are just a little bit different than what they normally are. Right now, there is an executive order from Governor polis, as well as the CDC order that is allowing tenants to stay in properties and not pay rent.
3. What happens if a tenant refuses to leave?
A common question we get asked is, “What happens if the tenant refuses to leave?” Well, if the tenant refuses to leave and overstayed their welcome, there are a few steps you can take to removing them from the property. First, it starts out with some postings and then it can go down the eviction route.
3. ¿Que pasa cuando un inquilino se rehúsa a desocupar la vivienda?
Una pregunta que nos hacen con frecuencia es, ¿Que pasa cuando un inquilino se rehúsa a desocupar la vivienda? Si el inquilino se rehúsa a desocupar la vivienda al final de su contrato de arrendamiento, hay algunos pasos que se tienen que seguir. Esto va desde entregarle un aviso para desocupar en su puerta, hasta proceder con un desalojo.
4. Can a landlord deduct painting from a security deposit?
One question we get often is “Can landlords charge for painting from the security deposit?” The answer is yes. If there are excessive wear and tear to the walls. If there are scuffs on the walls, excessive nail holes damage in the form of chipping. Or if they were painted another color by the tenants and not painted back to the original color. A landlord can use funds from the security deposit to paint the walls, back to their original condition.
5. How much should rent go up each year?
A common question that we’re frequently asked is “How much do rents go up each year, and go up each year?” On average rent can typically go up anywhere from 3-5%. Of course, this can change depending on where your property is located, market conditions, and seasonality. But you can pretty much count on a 3-5% increase in rent.
Welcome to our “Questions of the Week” series of blog posts where we will address some of the most common questions landlords ask us when renting out their properties. We welcome your comments and questions, so please don’t hesitate to contact us if you have anything to add.