Attracting and retaining good tenants isn’t always a walk in the park. In fact, the cost of getting rid of bad tenants can be quite expensive. Frequent repairs, vacant home expenses, and your own personal time and effort can quickly rack up. That’s why it pays to be a great landlord.
How to Be an Ideal Landlord?
Of course, being a dream landlord isn’t rocket science, either. The following tips, can help you take your landlord game to a new and exciting level.
The value of being organized to a landlord (and real estate in general) is absolute. The last thing a good tenant wants to hear is the oft “I will get back to you on that!” Trust me; nothing puts off tenants quite like having to wait for another week to get some paperwork signed. As a good landlord, you have to stay on top of documentation. That’s right; ensure that background check authorization, lease application, receipts, move-in and move-out lists, and an array of other vital tenancy forms are ready in a timely manner.
Stay on Top of Maintenance
Maintain the property in an impeccable order. From cleaning to lawn maintenance and everything in-between, your property should look amazing inside and out. If you do this, the tenants will always be proud of you and could even provide a good recommendation down the road.
Stay in Touch with Tenants
Naturally, tenants love to be left alone, but they also want to know that you care as a landlord about their wellbeing. Of course, you don’t want to go overboard, but a few niceties here and there can do the trick. Luckily, regular communication can create a good rapport as well as an avenue for tenants to air grievances and request repairs.
Reward those that Extended the Lease
You can do something small like carpet cleaning or even slice down the rent. Either way, you’ll find yourself in the book of “ldeal landlord.”
Common Landlord Issues and How to Fix Them
- Late Payments – Don’t neglect any late payment. Contact the tenant promptly to know what’s going on. Mistakes do happen, be understanding but don’t fall for any cheap tricks and excuses.
- Do your Homework: Make an effort to become a good landlord to attract and retain good tenants. Check tenant’s criminal background, credit, and references to keep bad tenants at bay.
- Disorderly Conduct: Loud parties, sloppy maintenance, excessive noise, and risky behavior can irritate other tenants. Ensure that you give out warnings to tenants in question. Keep a record of these incidents to gain ground to evict errant tenants if they persist