Owning rental property is a practical and relatively low-risk way to invest money and make a quick return. When managed properly, investment properties can be quite lucrative, but there are challenges to owning rental property. One of the main issues Tennessee landlords often face are issues with tenants. It is critical for landlords to understand the intersection of their property rights with the rights of tenants. This is essential to avoiding problems that could cost landlords time and money.
While landlords do own the property, there are limits to how they can access their property and do other things while the residence has occupants. Certain common mistakes made by landlords can lead to issues between them and their tenants. There are times when landlord-tenant issues become full-blown legal disputes, requiring legal action in order to reach a beneficial conclusion.
Avoid these things
As a landlord, you know that it can be quite complicated to manage your property effectively. It is important to understand how to take care of your property and address concerns in a way that is reflective of the rights of the tenants. If you own or manage rental property, it is in your interests to avoid the following:
- Asking discriminatory questions of your tenant, whether in person or on a rental application
- Failing to provide a safe environment for your tenants, including warning potential renters of possible hazards they may encounter
- Failing to make repairs in a timely manner, including those related to heating, plumbing, electricity and more
- Keeping security deposits at the end of a lease when it rightfully belongs to the tenant
- Ignoring the laws regarding eviction, including failure to follow the proper eviction process
- Disregarding the tenant’s right to privacy, such as entering the premises without permission or without giving warning
Any of these mistakes committed by a landlord could be grounds for a tenant to pursue legal action. Even a small mistake could lead to a complication that may lead to financial loss and other problems.
An explanation of your rights
As a Tennessee landlord, you will benefit from a full explanation of your rights. When you know how to protect your own interests while respecting the rights of tenants, you will be able to prevent issues that could lead to lawsuits. You can minimize your exposure to financial loss by seeking professional guidance regarding landlord-tenant laws.