How to Landlord and Rent During COVID?
As we are adjusting and learning how to deal with the COVID pandemic we must also think tactically in what is next around the corner when it comes to how to rent during a pandemic.
Our global, domestic, and local economy are being impacted. What used to work in the past no longer may fit in the future. People may be on the move more in search of jobs and opportunities. Short term rental may be the new norm. Let’s explore what that may look like:
- Listing through technology. Video, photos, and video conferencing of the property may be more widely used.
- Showing the property. CDC guidelines should be followed when showing properties to prospective tenants.https://www.cdc.gov/coronavirus/2019-ncov/prevent-getting-sick/prevention-H.pdf
- Sanitize. Cleanse each rental property before turning over to a prospective tenant.https://www.cdc.gov/coronavirus/2019-ncov/community/pdf/Reopening_America_Guidance.pdf
- Rental ready. Make sure that all repairs have been made and the premises is rentalready and in accordance with the Florida Landlord Tenant Act. Do not rely on the tenantto make repairs.
- Background. Get permission from the prospective tenant and run a background check.Google and social media may not be enough. Most private investigators will run a costeffective background check.
- Proof of income. Verify the tenant income before you trust what is placed on a rentalapplication. Ask for the most recent employer pay stubs.
- Term of Lease. As situations change using a weekly, monthly, or a six month lease maybe the better option than a year long lease agreement.
- Deposit. Don’t forget to get a deposit from the tenant as this may be the only recoveryyou may have as a landlord to cover any damages which may occur.
- Pets. Most people have pets so if you have a No Pet Policy make that clear from theonset. If you allow pets then you may want to include a Pet Deposit
- Lease. Make sure to get a written lease before renting to the tenant.
Planning and preparation may prevent having issues with a non-paying tenant or non-complianceissues.
As always if you have any questions you can contact me at (727) 330-7800 or at https://www.bornostlaw.com/reach-out/