Tips for Landlords Today’s internet driven world has caused a shift in how renters and tenants interact with landlords and find homes, apartments, and condos to rent. Displeased tenants can ruin a reputation with a single online review while a lack of web presence at all completely limits your potential tenants’ ability to find your rentals. By that same token, it can be hard to keep yourself safe from malicious attacks and deceitful tenants that may damage your property. The internet is home to a variety of services and outlets that allow you to guarantee some measure of security as a landlord. Below are a few tips to help you find and keep good tenants and maintain a positive business relationship with them.
Be Professional A landlord who behaves in a casual manner with tenants leaves himself open to a variety of liabilities if something goes wrong. Start by screening your potential tenants or get tenant screening software to help you with that process. This can help you to immediately eliminate any unwanted residents or individuals with poor rental history. As you work with potential tenants and come to an agreement with them, make sure you get everything in writing. Contracts and rental agreements allow both parties to clearly understand expectations so there aren’t any surprises. They also protect both parties in the event of an accident or incident. You also want to make sure that you have a fair and secure method for handling the receipt and return of security deposits.
Communicate Landlords are commonly responsible for repairs and other maintenance issues. As these are reported make sure that you respond to the request in a timely manner, giving the tenant an expected timeframe for the request to be completed. While delays may happen, maintaining open communication with your tenant allows you to also maintain your good working relationship with them. On that note, you also need to make your tenant aware of any need you may be to enter the home or be on the property for repairs and maintenance. Most contracts and agreements outline that a 24 hour notice must be given before the landlord or any workers can enter the premises.
Make Safety a Priority Everyone wants to feel safe in their home, and you will be more likely to keep reliable tenants if your rental property is safe and secure. Learn how to protect your property and discourage criminals from
selecting it as an easy target. Quite often this is as simple as making sure there is ample lighting and well-trimmed landscaping. If any environmental hazards exist or are discovered in the unit, on the property, or near the property disclose the information immediately or before the unit is occupied. If a problem comes to light after the tenant is already moved in, let them know immediately, and work with them to make sure the problem is resolved. Make sure that you have appropriate insurance coverage, and suggest that your renters get insurance as well. By making professionalism, communication, and safety a priority you will be able to keep good tenants and maintain a positive working relationship with them. Photo Credit: Victor1558, Garfield Anderssen