If you are a new landlord and don’t know much about renting to tenants with kids, you should check out our article and learn valuable tips.
Renting is one of the most sought-after businesses today. And it makes complete sense—people like not having to work 9 to 5 and being their own boss. Renting gives you the freedom you don’t have with a regular office job. Not to mention that it can be a really lucrative endeavor. So, it’s no wonder people rent their guest rooms or convert their garages into small apartments. While all this sounds great, it doesn’t mean there are no bumps in the road when it comes to renting business, especially when it comes to renting to tenants with kids. This subject has been debated a lot, simply because some landlords often need help when renting to families with kids, especially really young ones. So, if you are a new landlord and are stressing about renting to tenants with kids, you should check out this article and learn a little more about that topic.
First and foremost, you cannot discriminate against families with kids. Not only is it morally wrong, but it is also forbidden by law. While it’s natural to have concerns about kids being noisy and messy, the solution is not to ban them from renting. Chances are the parents will be responsible and make sure their kids don’t break anything or cause problems. If you are still on the fence about renting to tenants with kids, try to look at it from an economic point of view. Not renting to families with kids significantly lowers your income. Millions of people with families today are renters; there are single mothers and fathers with kids. Completely cutting off this type of renter can be a financially terrible decision for you.
Do work on a relationship with your tenants
One simple way to calm your nerves about tenants with kids is to simply talk to them. Try and start a healthy, friendly relationship with them. Share some of your fears with them and explain why you were hesitant to rent your property to them. Most tenants will be understanding. Especially those with kids. It works in their favor to have a good relationship with you. People who have kids don’t want to risk being kicked out of a property due to their kids misbehaving. They prefer being able to stay in one place for a long time because they want to give their kids stability. If you want to get off on the right foot with your new tenants, you can help them settle in. For example, if they are moving to Nevada and hiring movers, you can offer some advice. Tell them to let experts jump in and deal with a moving process and offer to connect with a trusty Nevada moving company you have hired before.
Don’t be unpleasant to them
Sometimes you might not really want to rent to tenants with kids even if it could be financially great for you, but due to anti-discrimination renting laws, you will have to. This can naturally be really frustrating and make you feel angry. However, taking this out on your tenants would be a horrible mistake. Your frustration is no excuse for being rude and unpleasant to them. It is not only wrong, but it can also be really bad for your business. One of the keys to success in the renting business is leaving a good impression and getting good reviews and feedback from past tenants. When a landlord behaves badly towards his tenants, it reflects poorly on his business. Bad reviews from tenants are really damaging and can turn people away from renting your property.
Do make your property child friendly
You can make your property child-friendly in a few simple and affordable ways. This is a nice way to make your tenants feel welcomed and to make sure your rental is safe. The first thing you can do is get cabinet locks. They will make sure little kids can’t reach any potentially dangerous items or liquids in kitchen and bathroom cabinets. These locks are affordable and easy to find in stores. The next thing you can do is get covers for electrical outlets. Electrical outlets can be really dangerous for little kids, so it’s better not to risk it. These covers are also affordable and easy to find in stores. And, finally, don’t forget safety nettings for windows. Kids always run around, and these settings make sure they don’t fall out of a window. This will leave a good first impression on your tenants and attract others to rent from you as well.
Do be understanding when renting to tenants with kids
No matter how responsible the parents that are renting your property with their kids usually are, they might struggle a little during the first few weeks in a new home. This is a big change for kids, and they might be a little noisier or messier due to stress. According to experts at Best Long Distance Movers, moving, especially long distance, is really stressful for kids, and they should be given time to settle in. Try and remember this during those first few weeks. Chances are that once kids settle in, there will be no problems. However, if the bad behavior continues after that, you have every right to raise your concerns and, in the worst-case scenario, evict the tenants. Be patient and understanding but still set boundaries and house rules.
These are some basic dos and don’ts of renting to tenants with kids. As you can see, it can be challenging at some points, but it’s not unsolvable. The key is to be welcoming and understanding but up to a point. There should be mutual respect between you and the tenants. It’s best to talk everything through right at the beginning. Be honest and upfront and expect the same from them. Also, don’t forget the financial element and the importance of getting good reviews from your tenants.
Clark Real Estate
305 W. Moana Ste C
Reno, NV 89509
Reno Property Management