How to Handle Rental Damage in the LBI Real Estate Market

Tips for Tenants and Rental Homeowners on Long Beach Island

How to Handle Rental Damage in the LBI Real Estate Market
How to Handle Rental Damage in the LBI Real Estate Market

Long Beach Island Real Estate Rentals

The rental market on Long Beach Island has been a busy industry for decades. It is no exaggeration to claim that the entire economy of Long Beach Island centers on summer rental season. Tourism is the backbone of Long Beach Island, and has been since the area was first settled in the early 19th century. Unfortunately, there are some downsides to renting the most common of which has to do with damage caused during a tenant’s stay. It is difficult at times to properly assign blame for problems, so it is very helpful to understand how to handle rental damage in the LBI real estate market.

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How to Handle Rental Damage in the LBI Real Estate Market

The proper way to handle rental damage in the LBI real estate market has to do with each individual situation. That said, there are some tips both a landlord and tenant can follow to help make the process easier.

  • Report damage right away
  • Document everything. The best way to handle damaged is with a picture
  • Trying to keep emotions out of the equation.

The first tip may seem obvious, but it is often overlooked. This is especially true in the case of tenants checking in to a property for the first time. Upon arrival at a summer rental, it is highly advisable to take 10 or 15 minutes and conduct a visual survey of the property. Do this before anybody unpacks or any changes to the property take place. It is important to look for stains, damage, marks on the wall, tears in any of the furniture, the proper number Beach badges if they are being offered and a quick inventory items left in the home for use by the tenant. If any damage is found, it is best to take a picture and notify your rental agent right away. This way, the damage can be noted and the blame can be assigned on the preceding tenant who may have caused the damage.

Documentation is very important. The “he said, she said” argument can quickly degrade and accomplish nothing. As mentioned above, if a tenant discovers damage to property, photographing said damage and notifying the rental agent should of absolve the tenant of responsibility. For a rental homeowner, and the damage that is found upon a tenant’s departure should also be photographed and reported right away. I cannot over emphasize the importance of photographing damage or the need for excessive cleaning BEFORE any remediation takes place. It is far more difficult to facilitate the hold of a tenant’s security deposit when there is no proof of damage.

Lastly, it is important to keep a cool head to matter what the situation. For a landlord, renting a home must be approached as a business. Certain “wear and tear” is to be expected, and there should be an annual allowance for care and maintenance on the property. It is also important to weigh the cost and benefit of a security hold in the absence of proper documentation. Sometimes, the cost in both money and time to pursue a security hold is not worth the effort unless the proper steps have been taken beforehand.

For more information about summer rentals on Long Beach Island or tips on how to handle rental damage in the LBI real estate market, contact me and I will respond right away.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

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