Charlotte, NC, is an excellent place to own investment properties. The city's growth rate is at its highest level in ten years, rental vacancy rates are low.
As an investment property owner, you have certain responsibilities toward your tenants. In return, you expect them to fulfill certain duties.
A signed lease is your guarantee that your tenants will pay their rent on time and take good care of your property. Unfortunately, a signature isn't always enough to ensure they comply with what they've agreed to.
Lease enforcement is one way to ensure your tenants stick to their side of the contract. Read on to find out more about managing lease violations.
The Legal Implications of Lease Enforcement
You must act within the landlord and tenant rental laws of North Carolina when you enforce a lease. So it's vital to get a professional to help you outline the terms of tenancy in your lease agreement at the outset.
A property lawyer or experienced property manager who's familiar with tenant rights can assist you with this. They can also offer valuable advice and assistance if things go wrong and you end up in court.
If your tenant commits serious lease infringements, you have the right to evict them. This includes things like not paying rent, damaging your property, or criminal activity.
You can't pursue legal action against tenants without following the correct lease enforcement procedures.
How to Enforce a Lease
Thorough tenant screening procedures help ensure you place good tenants in your home. They also limit the chances of lease infringements occurring.
Most tenants probably won't cause any major issues throughout their tenancy, although you may need to deal with minor infractions now and again.
These may include noise disturbances, failure to comply with the agreed-upon upkeep of the home, or allowing their pets to run rampant. Regular property inspections can help you keep tabs on these aspects.
It's important to deal with all lease infringements swiftly and fairly. Enforcing your lease protects your assets and your reputation in the community.
Your first step when you notice a lease infringement is to communicate with your tenants. Send them a 10-day landlord notice informing them about their omission or wrongdoing and explaining how they can rectify their behavior.
This notice serves as an official warning. You should keep a copy of it along with any other correspondence applicable to the infringement.
You must have this paperwork on file if you decide to take things further.
Enjoy Effortless Tenant Management
Lease enforcement is a time-consuming task and is often difficult for busy landlords or those who live out of town. Hiring a property manager is the best way to find good tenants who take good care of your property and respect your lease agreement.
Carolina Property Management offers a wide range of property management services to suit Charlotte, NC, landlords. We can help you set up legal lease agreements, screen tenants, carry out property inspections, and enforce your leases.
Get in touch to enjoy the benefits of our expert, professional services.