With the way that the economy is, many people have made the decision to rent out rooms in their home and their extra houses to other people. But for people who have never had tenants before, it’s important to know some tips for Real Property Management Chicago. Here are five tips to follow when you are a landlord.

Screen prospective tenants – Before you rent to anyone, make sure that you are screening them. Do background checks, see if they have any arrests or convictions, and check their references. This may seem like something that should be obvious, but many people are so anxious to get a renter that they overlook this step.

Put everything in writing – So that everyone understands what they permitted to do and what they are expected to do, make sure that everything’s in writing and that any adult who is moving in signs it. In addition, if there are any changes made to your contract, the person needs to sign that as well. Otherwise you may have trouble proving your case if it goes to court.

Keep on top of things – When your tenants call you about a problem, make sure that you or someone who represents you, such as a maintenance worker, is responding in a timely fashion. Otherwise you might find that you are ending up in court because of the problem that you have with your tenants, except you may be the defendant.

Make sure it’s secure – Someone who is renting an apartment or a room of yours shouldn’t have to worry about whether or not they are going to be robbed. Be sure that you are keeping things locked up tight at night and that you do everything you can to ensure the safety of your tenants.

Let them know of problems – If you know that there is black mold or lead, make sure that you tell your tenants about it. They have a right to know, especially if it’s a health hazard. If you don’t tell them and they find out that you knew about it ahead of time, you could face problems.

These are not all of the tips that you should remember, but they are some of the most important when it comes to Real Property Management Chicago. They will help your relationship with your tenants be much more pleasant.