3 Reasons why Vacation Rentals are Better than Regular Rentals

I just got off the phone with one of my real estate buddies.  He's been in the real estate rental business for over 25 years.  

So Kevan has been around the block and back a few times. He was telling me about 2 of his tenants from Hell. 

If you've never experienced at least a couple of Tenants from Hell then you can't call yourself a real estate investor. 

These tenants will "break you into the business".  I've had a few  of them myself but thank God I didn't experience the worst of them.  

Why am I so lucky?  It's because of the paperwork that all the Tenents had to sign and because everything was documented, that's what's saved my butt.  

3 Things that Will Save You from Sleepless Nights:

1.  Document everything that is said by both you and the tenant. Email is one of your best friends to have for documentation.   

2.   Have tenant sign a lease agreement, incoming and outgoing  inspection form, do a credt and landlord check on the tenant.    Get a video of your premise along with the tenant walking throughout it doing your incoming inspection. 

3. Make sure that your smoke detectors are serviced  and working and have the tenant sign paperwork with you as a witness, stating that the smoke detectors are in working order. 

These are some of the management must do's in order to not have problems with you tenant. 

Now if you own a vacation rental you can use some of this paperwork and management strategy to keep your vacation rental safe from unruly guests. 

Happy investing. 

Maria Rekrut

Http://realwealthrealestate.com