The Basics of Landlording in Butuan City

Being a landlord means that you are the owner of a real estate property. The property may be an apartment building, rental house, or any other building that is being rented or leased for a fee to an individual or company. The latter is called the renter or tenant. The landlord can either be a corporate entity or an individual too.

Generally, the term lessor and lessee are used when referring to a landlord and tenant, respectively. These are terms that are typically used in a legal context. This is very common when signing a rental or lease agreement.

The landlord can also be a property manager. As a property manager, the landlord will be the one to handle the selection of tenants, repairs of the facilities, collection of rent, termination of tenancy, and other essential management tasks. In some cases, hiring a property manager is necessary for those landlords who own multiple rental buildings or multi-unit apartments. The professional property manager can easily handle day-to-day tasks relevant to managing the properties in Butuan City.

Some of the property managers in Butuan City or even the landlords can opt to live in or out of the rental building. It is actually recommended so that whatever happens in the premises can be monitored. Action can be promptly taken by someone with the right authority to do so when a property manager is living within the premises.

As the landlord, it is important to be aware of what legal responsibilities does one have. Make sure to comply with the landlord-tenant laws that are in place. Examples of the legal responsibilities that one has to follow when it comes to the rental properties in Butuan City include providing a habitable housing, ensuring safety routes in case of natural disasters, and so on.

The landlord also have to comply with legally-regulated tasks. Some of these tasks include returning the tenant’s security deposit, as included in the rental or lease agreement. There are also anti-discriminatory laws that must be followed, which include terminating lessee’s tenancy, entering the property, and so much more.

A landlord has many responsibilities. It is not an easy job. If you want to be a landlord, then you have to prepare yourself for the work you have ahead.