A fair question of any worthwhile property management firm is what measures they take to follow through on lease violations and how they hold tenants responsible for damages. At jacobgrant, our first priority is the ROI on your investment property. By preventing loses with a definitive lease, and holding tenants responsible for their actions, we create a firewall between you, the investor, and tenant damage that could reduce your ROI.
The Lease
In times past, agreements were finalized with a handshake, and left at that. Unfortunately we no longer live in that world of trust. Instead, because of our litigious society, every agreement must be in written form and every detail nailed down. This protects you the investor from potential loss of ROI.
The lease we employ on your behalf is based on treating your properties as a for-profit business. This means that there will be no unapproved tenants, vehicle repairs, or any other behaviors that would damage your ROI.
Because you have entrusted jacobgrant with your investments, you can be confident that we will enforce the lease so that your property is protected from physical damage. In addition, its reputation is protected also.
It’s necessary that the terms of the lease agreement be enforced the same way for all renters to assure fairness for all tenants, and compliance with fair housing laws.
Lease Violation and Damage Discovery
Lease violations are a primary concern of jaobgrant property management. Holding tenants to the lease is what makes the tenant/landlord relationship work, and protects your ROI. This includes holding tenants responsible for tenant damages.
Our calling card is assuring your ROI is at the maximum possible. If tenants are allowed to violate the lease, or cause damage to your property, your ROI will be diminished.
To assure there are no lease violations, jacobgrant personnel are in your properties on a regular basis to complete scheduled inspections. In addition, when jacobgrant personnel enter your properties for other reasons such as repairs, they are trained to be vigilant for violations . As a last step, a jacobgrant representative can be assigned to drive by your property to see if there are any lease violations that are visible from the exterior of your property.
Tenant Liaison
In an effort to assure that tenants don’t move out of your property and leave it with damages, we have a person whose sole purpose at jacobgrant is to work with tenants before they vacate the property. This person serves two purposes. First, they assess the condition of the property to see if there are damages that the tenant is responsible for. Second, the jacobgrant representative assures that the tenant is aware that they will be held responsible for the damages caused.
Jacobgrant has found that assessing the condition of your investment property before tenants move, is more effective than dealing with damages after they’ve left. It’s much easier for a tenant to dismiss a notification in the mail than a person standing right in front them.
Photographic Proof
Jacobgrant uses video and photographic evidence to document lease violations and tenant damage. We take images and video before the tenant moves in and when they move out. This makes it possible to have hard evidence of damages the tenant may have caused.
Tenant Penalties
When lease violations are found during tenancy, the tenant is assessed a penalty of ninety-five dollars. This is stipulated clearly in the lease agreement. This penalty assures compliance with the lease, prevents damages to your investment property, and preserves your ROI.
If there are tenant-caused damages to your property found, it’s stipulated in the lease agreement that not only will the tenant lose part, or all, of their deposit they will be held financially responsible for all damages to the property and any cleaning necessary to make your property ready to market if the tenants are at the end of the lease agreement. This preserves your ROI.
It’s also stipulated in the lease agreement that any illegal behaviors, especially those that would cause your investment property to be perceived as being disreputable, and reduce its value based upon its reputation, will cause the eviction of the tenant. This preserves the reputation of your property and its ROI also.
Following through on lease violations and holding tenants responsible for lease violations is a part of the passive investment experience with jacobgrant. Our goal is to make your properties earn without your involvement. This means we intercede of your behalf so that you have a passive investment experience that maximizes your ROI.
To learn more about how Jacob Grant can improve your Passive ROI with preventative inspections call 208-795-8218 or schedule a call Schedule call
