Being a landlord has its share of monetary and non-monetary gains. However, there are many responsibilities that you have to shoulder and carry out efficiently. Being a landlord doesn't mean you only have to collect money from your tenant. You also have too look into aspects like repair that might be needed of the property you have rented out. Responsibilities include doing maintenance work on the property, preparing the required legal paperwork, and also protecting your own rights to the property.
As far as leasing a commercial property is concerned, it is very important to understand the basic responsibilities of a landlord. On a commercial property, mostly tenants are responsible for internal repairs, and in some cases, external repairs too. Many of these repairs depend on the lease and contract.
- When your landlord is giving you a commercial property on lease, he/she has to allow tenants to move in without any disturbance.
- Mention in the lease agreement conditions related to repair and maintenance of the property, if it gets damaged.
- Ensure that your property complies with building regulations.
- Make sure that all electrical equipment you provide to the tenant are safe and usable. Make sure the furniture you provide is fire resistant.
You should know your rights and responsibilities towards your tenant and your property. Let's have a look at some legal duties of a landlord.
- Always maintain and repair the premises according to the lease contract.
- Provide adequate locks and keys of the house.
- Make sure all electrical appliances, plumbing, and heating are in working order.
- Make sure the property is clean and safe from insects, rodents, and other pests, before the tenants move in. It is the responsibility of the landlord to control infestation in the house, even after the tenants have moved in.
- Provide smoke detectors, and make sure they are of good quality and in working condition. Tenants are not responsible for maintenance of smoke detectors in apartments.
- Law states that the landlord must give a two-day notice of intent, if he/she wants to enter the property. The law also states that tenants cannot stop the landlord from entering the property when he/she has given a notice of intent to enter into the premises due to various reasons.
If something in the residential property needs maintenance, the immediate thing to be done by the tenant is to provide a written application of the problem and give it to the landlord or the person who comes and collects the rent.
- Major problems can happen in an apartment if no care is taken. For instance, the tenant above you might cause the bathtub to overflow, which causes leaking in your ceiling and walls. A tenant has the right to notify this problem to the landlord, and your landlord must solve it within 24 hours. If no solution has been found, the tenant can take legal action against the landlord.
- Unlike a major repair like a leak, minor issues have to be managed by the tenants themselves. If the tenants have a problem with some parts of the apartment, they have to repair it, not the landlord. The smart thing to do over here is to negotiate for rate and sign your agreement at a lower rent value.
- But if the apartment is in need of repairs because of the tenant, it is solely his/her responsibility to repair it. A landlord may send a bill of the repairs undertaken, and if the tenant can't pay it, the landlord has the right to deduct the cost from the security deposit.
Never lease your property without having a tenant screening session. In any scenario, landlords are legally allowed to make sure that the tenants follow all the rules and regulations pertaining to the property standards.