Dealing with bad tenants can be tricky enough—though such scenarios are not ideal, at least you have a contract on your side to dictate certain rules and behaviors that ensure the comfort of all your tenants. But what happens in a case involving bad neighbors, when you don’t have the benefit of a pre-existing agreement on your side? Depending on the set-up of your property, a bad neighbor can potentially be just as disruptive (or perhaps even more so) than uncourteous tenants in your own property. Following are some suggestions to help mitigate this sort of scenario.

Consider neighbors when property hunting.
Time and time again in this blog, we’ve highlighted the importance of doing extremely thorough research when seeking out an investment property. And guess what? We’re about to dole that same information out once again. With so many other factors to take into consideration when selecting a property, evaluating potential neighbors is one of those things that all to often falls by the wayside. But on a day-to-day basis, your property’s neighbor can have a considerable impact on your tenants’ quality of living. And if that impact is a negative one, you may very well find yourself with high turnover or an undesirable vacancy rate. So, with this in mind, taking neighbors into account is a consideration when purchasing a property.Visit your potential property at various times of the day to see if there are any red flags (be sure to do this at times when neighbors are likely to be home, such as weeknights or on weekends). If you pick up on any noise or behavioral issues, you may want to consider what sort of impact this might have down the line.

Meet your neighbors.
This sounds simple, but neighbors are much more likely to make more conscientious decisions when they are taking a specific person into consideration as opposed to an anonymous “neighbor.” As soon as you purchase your property, take a few minutes to introduce yourself to your neighbors—this doesn’t take much, just a five-minute chat will do.

The Fair Housing Act (FHA) exists to ensure that all potential tenants are given an equal opportunity to obtain residency. This anti-discrimination policy means that, as a landlord, you are not allowed to base tenancy at your property upon any of the following factors, including: age, race, color, religion, familial status, or handicap. This law is straightforward enough; however, there are certain common instances in which landlords find themselves inadvertently in violation of this act. A common slip-up that can potentially lead to legal troubles down the line is searching for a certain “type” of tenant based upon your property’s location, amenities, or general pre-existing demographic. Consider the following scenario.

 As clearly stated in the FHA, you cannot base your decision upon whether or not to accept a tenant on their situation or life circumstances. For example, even if you prefer to rent to students, you absolutely cannot refuse to rent an available unit to a family of three simply because they are a family rather than a single student. Remember, though, the average tenant wants to find a living situation that is comfortable for them.

In the above scenario, for example, if you have a ten-unit complex that is primarily occupied by students, chances are other students (as opposed to families or young professionals) are going to be most enticed by your property. To achieve maximum visibility among this target demographic, you should place advertisements in outlets that cater to the university population in your area—school-affiliated publications, websites and bulletin boards at local college hang outs, for example. Explain in your advertisement that the unit is perfect for college students based on its proximity to the university. As prospective tenants want to find a situation that is most conducive to their lifestyle, chances are a self-selection process will occur. Bear in mind, however, that your advertising may in no way, shape, or form indicate that your unit is only available for students—that is in violation of the FHA.

One of the most commonly touted reasons property management professionals provide for working in this industry is diversity. Not only is each and every day different from the one before but, also, property managers have the unique opportunity to put a wide range of different skills and talents into practice.

With this in mind, there are several different avenues that may lead one to a property management career. Perhaps your background is in real estate, finance, law, or marketing. You may apply any of the professional skills learned in these areas to property management. Or you may simply find yourself wanting to utilize certain qualities or characteristics, such as dealing with people on a consistent basis, problem solving, or multi-tasking. In the property management field elements of all of these professional areas and personal skill sets will come into play. While you don’t have to be a master of all of them (or any of them, for that matter), you do have to possess the willingness to learn certain specific tasks. For example, you don’t have to be a finance whiz to be a property manager, but you do have to perform accounting functions; likewise, you don’t have to have a law degree, but you must have a solid grasp on local, state, and federal laws and regulations to ensure your property is always in compliance.

Do you know you want to get into property management but don’t know what your options are? Property management positions come in all shapes and sizes. You can be a self-employed property manager handling only your own property or you can oversee multiple units for a third party. You can be an operations manager, maintenance supervisor, or regional portfolio engineer. When it comes to finding a job in the property management sector, the Institute of Real Estate Management (IREM) offers a great industry hub. Job listings at IREMJobs.org include everything from basic property management positions to business systems analysis work.

Most landlords will agree that a vacant unit ranks right up there as one of their least favorite things. The bottom line is simple: A vacant unit is money down the drain. There are, of course, times of feast when rental units rarely remain vacant for even a few days in between one tenant and the next. But then there are the other, slimmer times, when people are saving their pennies and staying put. In this case, finding a new, quality tenant is much, much easier said then done — it can take weeks (in some cases maybe even months) to find the right tenant.

And, of course, even if you are able to find a tenant, flipping a unit costs money. As discussed in our previous post, even those units that are left in good condition require some degree of re-investment — not to mention the cost of advertising and marketing available units.

Which all seems to make it clear that, at least in the current economy, retaining good tenants is the best way to go. Not only will it save you the expense of turning the unit, but it will also prevent a potential lingering vacancy from sucking away at your bottom line.

The last box has been hauled down the stairs and the moving van has pulled away from the curb. Now that your former tenant has vacated his apartment, it’s time for you to get to work, flipping the unit in preparation for the new tenant that’s on her way. We’ve talked about the differences between normal wear and tear versus damages previously—so now let’s take a look at what tasks you can expect to complete on a routine basis when a tenant moves out of one of your units.

Cleaning Appliances

No matter how cleanly your former tenant was—and even if he cleaned the apartment himself prior to vacating—chances are some spots were missed. And some of the most common missed spots that require your attention are appliances, such as stoves, refrigerators, and built-in microwaves.

Sometimes the best marketing involves an investment of time, rather than money. When your schedule is already jam-packed and your time is extremely valuable, it may seem somewhat overwhelming to offer a sampling of your services for free. But giving a little can pay off big in the long run and is an unparalleled way to set yourself apart from the competition.

Demonstrate Commitment
Your clients know that time is money, and they know that your time and services are a valuable commodity. So when you take the time out of your schedule to offer a free sampling of your services (such as consultancy), they’re going to know that you’re really committed to earning their business. Because properties represent a significant investment on the part of the owner, commitment to their best interests is one of the most appealing qualities a potential property manager can demonstrate. Show your commitment to potential clients and chances are they’ll return the favor in kind by hiring you for the job.

Put the Proof in the Pudding
Lots of people can talk the talk. And from your potential client’s end, determining which property management company is best for the job from marketing materials alone can be a daunting endeavor. After all, chances are your competitors are touting many of the same qualifications you are: responsible, experienced, knowledgeable, and affordable property management services. So how is a potential client supposed to determine which property manager really does best demonstrate these skills?