People who decide to make a residence available to others to live in have certain responsibilities and obligations to those residents. But this is a two-way street, and residents, in return, also have some responsibilities that they must maintain. Here is what the two parties owe each other in a relationship of owner and resident:

Residents Must:

Pay On Time

Of course, this is crucial. If a person agrees to live in a space in exchange for money, then there is a contractual, and thus legal, obligation to pay that money on time, typically every month. This is the most basic obligation of a resident.

Keep The Property Clean

While it's fine for residents to be untidy with personal things like making up the bed or doing dishes, they are ultimately responsible for the cleanliness of the residence. A lack of cleanliness, such as letting garbage accumulate, can become a health and legal hazard.

Take Responsibility For Damage

If a resident or a resident's guest damages the property, then the resident is obligated to fix it themselves. For example, an owner should not be expected to fix a hole in the wall if the resident, in a fit of anger, punched the hole in the wall themselves.

Owners Must:

Provide Vital Services

A residence should have the expected features like hot and cold water, electricity, and heating. It's up to the owner to ensure these are available and readily accessible by residents. Depending on where the residence is, the same may also apply to access to air conditioning.

Maintain The Residence

As the owner, it is still up to you to do regular maintenance and inspection of a residence. The people living there can't be expected to know how old a furnace is or what the schedule is for maintaining it. The same is true for the condition of the roof. These are parts of the building you own that you are responsible for.

Provide Documentation

You must keep records both for your protection and that of your residents. Contracts, leases, and other information should be preserved and made available if requested and required. If you don't, for example, have a contract outlining your responsibilities, you may be financially responsible for more than you expected if you lose a my-word-against-theirs legal argument. Having records is one of the strongest elements of proof in any situation requiring a legal resolution.

If you want to make sure you're getting the most out of your property rental investments, contact Occupancy Solutions and let us help.