Becoming a landlord brings a lot of new responsibilities. If you want to be successful and fill vacant properties with paying tenants, the easiest way is to be a great landlord!
Are you ready to learn how to be a good landlord? Here are seven landlord tips you need to know!
1. Start With a Good Lease
A detailed and thorough lease can prevent issues before they happen. When both parties know their responsibilities and rights, the landlord-tenant relationship is a breeze.
Remember to stay consistent and hold up your end of the lease! Fulfilling your roles is the most important thing a landlord can do.
2. Be Welcoming
Writing a welcome letter is one way to make the perfect first impression as a landlord. Tell them extra details about the house or neighborhood, like when the trash truck comes by.
There are other little gestures you can make to ensure your tenants feel at home. For instance, stock every bathroom with toilet paper and soap. Or, set out leaflets for the best restaurants in town!
3. Stay Professional
It's good to be friendly, but remember that this is a business relationship. Set boundaries early on to avoid unpleasant situations later.
Strike a good balance between professional and personal interactions. Your current tenants may refer your future ones!
4. Be Available
Make sure your tenant has all of your professional contact information. You don't have to be available 24/7, but make sure you respond quickly during business hours.
Follow up every time they contact you, and keep the lines of communication open!
5. Act Fast
If a problem arises, don't hesitate to fix it! Nothing sours your tenant's impression of you faster than slow solutions.
As a landlord, you're providing a product and a service. That means you need to keep the property in good shape and do it with great customer service. Your tenants will be happier if they feel like they're getting what they're paying for!
6. Show Compassion
Your tenant may be a source of income, but the best landlords remember that they are people first.
Stay firm when it matters, but know when to let things slide. An extra day to make rent every once in a while is definitely worth it to maintain a good relationship!
7. Keep Organized
Successful landlords know that keeping careful records is important. If you're organized, you can quickly solve disputes or go the extra mile to provide great service.
Another fantastic way to stay organized is to offer an online rent-paying service. Not only is it faster and more convenient, but it's also much easier to keep track of every record!
Learn More About How to Be a Good Landlord
Being a great landlord is about much more than property management. You need to establish a relationship with your tenants and protect your business, too! Learning how to be a good landlord is an ongoing process - keep finding more ways to be awesome every day!
Find more owner resources here or contact us today to learn more about property management in Las Vegas, Nevada!
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.