Many Americans look forward to one of the biggest social holidays of the country— New Year’s Eve. People from all parts of the country gather together in their homes, celebrate at private soirees, or party at big public events to offer a tender farewell to the old year and embrace the new. Your Davidson tenants, too, will likely host a social gathering of some kind to celebrate New Year’s Eve. For this reason, on the subject of your renters throwing parties in one of your rental homes, it’s vital to recognize what options you have to keep these parties from spiraling out of control. You can take the proactive path: from the language in your lease documents to proper enforcement of its terms.
Keeping your tenants’ New Year’s Eve celebrations from growing into big parties that increase the risk of damage and liability can be difficult. For instance, how many people would be considered too many when hosting a party on your property? Can you or should you restrict your tenants from drinking alcoholic beverages? Suppose your tenants want to welcome the new year by setting off fireworks or noisemakers at midnight?
Questions like these can all be taken up in your lease documents. The wording in your lease should explicitly set the allowable number of people permitted on the property at any given time, with bigger numbers needing the property owners’ expressed permission. The specific number can vary, but “no more than 10 for fewer than four hours” is a popular option.
While you can’t legally ban the drinking of alcoholic beverages by your renters, you can add specific language in your lease that addresses illegal activities, and put down in writing the specific consequences of approving such act on your rental property in Davidson. You may also consider prohibiting large crowds, excessively loud noise, or a huge number of cars. Fireworks ought to be prohibited at all of your rental homes, and you might need to insert a special note that calls attention to certain holiday-related activities (loud music or noisemakers, for example) that would turn the house into a public nuisance, disturbing everyone in the neighborhood.
Another possibility is having your tenants purchase renters insurance and include renters legal liability. Because, in the event that they host a large party on the property, the chances for damage and injury increases considerably. If damage or injury does occur, you could be held responsible unless your tenants have their own insurance coverage.
Finally, to protect your rental home, you need to be diligent in enforcing the terms of the lease agreement. If a party gets disorderly and loud, destructive, or illegal activity is taking place, it’s imperative that you act right away and be firm in holding your renters accountable.
The good news is that you don’t have to tackle all these things all on your own. At Real Property Management Value, we will ensure that your lease documents include specific and binding language while monitoring activity, watching for those things that may not comply. Feel free to contact us online or by phone at 704-230-4074. We’ll be glad to answer any of your questions.