Knowing your rights as a landlord can free you from a life full of headaches and mean surprises when dealing with your renters. You might want to get ideas on the essential rights that you can take advantage of as a landlord in order for you to have a harmonious relationship with your occupants.
Rights on Property Damages and Repairs
Â If the renter does not want to pay the property repairs caused by his negligence, such expense can be deducted from his security deposit. You must furnish him a copy of all the receipts and explain to him all the deductions you have made.
Â There is a need for you, as a landlord, to maintain the rental property in a livable condition which complies with the local health and safety standards.
Â Damages that are caused by daily wear and tear must be fixed and arranged as soon as possible. Landlords are responsible for shouldering any expense for the repairs.
Â When there is repair to be done in the property, you have to inform or notify the renters in advance. Generally, they have to know such notification one or two days in advance.
Â When your property is damaged due to the negligence or abuse of the occupants, they will be the one reliable for paying the expense of repairs.
Rights on Collection of Rent
Â When your renter is habitually late in paying the rent, you have the right to charge him a fee that is said to be reasonable. Normally, landlords impose 5-15% of the monthly rent.
Â You can decide and set the amount of rent as to how much you want as long as the occupant is in favor to it. But, if there is a rent control in your area or your occupant is under a housing subsidy program, then you have to make necessary adjustments and considerations. Be sure to follow rules set by the real estate laws when computing for the rent price.
Â It is your right, as a landlord, to get the monthly rent from your renters on the specific due date and terms written in the rental contract.
Â When you will raise your rent, you have to inform or notify your occupants of such increase one to two months in advance. As for fixed term tenancy, you can stipulate any increase in rent until it ends unless the real estate laws or written rental contract allows you to do so.
Rights on Evicting the Tenants
Â As a landlord, you have the right to evict the renters if they are stubborn enough to pay their rent or violate the agreed terms written on the lease contract. There can also be a possibility to evict a renter who is habitually late in paying the rent, which is in some other places.
Â Eviction lawsuit can be filed as soon as you have written a notice to the renter giving him the last chance to fix everything.
Â Even if you are the landlord, you do not have the right to perform extreme actions due to a stubborn tenant. You can not change the locks of their house or cut off the electricity and water supply anytime you want.