Page Topics: Management Companies Tenants Real Estate - For Landlords Real Estate Management Companies (Top) Whether you go with a management company depends on your desire and ability to work with tenants versus keeping the money you would otherwise pay someone to run your properties for you. If you can afford it do it. If you need the cash flow for another project then educate yourself for the challenges. Dealing with Rental Tenants (Top) Tenants are usually saints or devils. They can cause you huge headaches or they can be peaceful and profitable. Here are some ways to deal with renting tenants: Get them to Pay Rent - Impose hefty but reasonable late fees for tardiness. Let them know upon entering the lease that one of your top priorities is for them to pay on time EVERY month. Screening Process - Learn to screen properly. You can't discriminate for certain reasons (laws differ from area to area) but you can choose the best from multiple potentials. If a tenant asks you why they didn't get to rent then tell them generally and truthfully that they just weren't a fit for your place. Steer clear from specifics because you can walk right into a discrimination suit. Lease Contract - Make sure your contract is written correctly to protect you and help you achieve your objectives. Make sure to explain to the tenants each part of the contract and emphasize important parts. Eviction - Learn the legal process of eviction like the back of your hand. You will use it at some point and you want to do it right. Cleaning Checks - Enforce cleaning checks on a regular basis. Require a clean, well-kept living space. And look for signs of a meth lab or other illegal, condemning practice. Repairs - Respond quickly with repair requests. You don't necessarily need to fix the issue but the tenant needs to know you are responsive. Documentation - Record keeping can be a hassle but an once of prevention is worth 10 tons of cure. Date and document every interaction even if you just keep a few notes.