If you are like most home owners and tenants out there, your house is probably your biggest asset and probably the place you pay the highest interest on as well. It is important to know how to protect your most valuable possessions, not just from theft by a burglar or a fire, but also from damage and loss by renters. The best way to do this is to put a lockbox in your rental properties. The lockbox will provide you with the peace of mind of knowing that all of your most valuable belongings are covered, while at the same time giving you peace of mind knowing that should something happen to your property you will be covered.
How do lockbox systems work? A typical lockbox is installed at the exterior of the rental property and then programmed to open upon the discovery of a key. Most lockbox programs are easy enough to install yourself and to maintain, making them a practical solution for both property managers and tenants. Many apartment buildings have a lockbox that is located just outside the building’s main entrance and can be accessed by the building management team anytime day or night. Some even offer 24-hour access to a master lockbox. Click here for more information about phuket apartments for rent long term.
How does a lockbox prevent a renter from taking what seems to be a free ride? The idea is to prevent a renter from attempting to gain access to your home by falsifying information or omitting necessary items from their rental applications. This is done by the lockbox informing the real property management company if any items are missing, stolen, tampered with, or altered in any way. If the property management company finds these items to be authentic, the process of approving the renter’s application will be denied.
There are also many situations where a rental property manager reviews a rental application and requires additional information, such as credit references and background checks. At these times a real estate agent may assist the manager in completing these forms. Not all rental properties have these forms available for the renter’s use. Most owners simply leave them off, thinking the renter will fill them out on their own. However, most renters lack the knowledge and motivation to complete such forms accurately. It is also often not possible for renters to accurately calculate exactly how much money they will be paying for each month of rental; hence the credit reference and background check requirements.
For these reasons, it is highly recommended that you obtain a secure lockbox from your local real estate agent when renting a home for the first time or updating your rental portfolio. In addition, some lease agreements allow for the withholding of certain deposits, which could become lost or misplaced should the landlord discover fraudulent information in your file. Security boxes are also useful because they often contain an emergency phone number for immediate help. As well, locksmiths have the knowledge necessary to rekey the locks in the case of a burglary, or render aid in other emergency situations.
No matter what type of rental property you choose to rent, make sure to be proactive in safeguarding your personal and financial information. By keeping a lockbox, homeowners can protect their most valuable possessions from theft or damage in the event of a burglary. In addition, renters can protect their credit by using a rental form to signify that they will be paying extra money in case there is damage or loss to their belongings. Following these tips can help ensure that your rental experience remains hassle-free.