There are only two types of landlords; good and bad ones. If you have been a tenant once, you will know which one belongs to each category. So when you decide one day to rent out a property of your own, whether it is a house or an apartment, you want to make sure that your tenants will see you as the good landlord. After all, who wants a bad reputation, right?
Being a good landlord is definitely beyond a good personality. There are things that you have to do and show to your tenants so that they will regard you as a good one.
Here are five tips to being a good landlord.
- Communicate with tenants properly.
You don’t have to be present at all times or talk to them on a daily basis. However, if there is something you have to relay or if they need something from you, make sure that you communicate with your tenants properly. This is most important especially when your tenants have just moved in. Explain the lease properly and go through all the details of the leads to them. Make sure they understand everything before you have them sign it.
- Create Landlord Forms in advance.
Part of being a good landlord is when you are ready with your documents whenever it is necessary. In order for you to be ready at all times, you can create landlord forms in advance so you have it ready when you have to give it to your tenants. There are websites where you can download a form and customize a template for forms like Notice to Pay or Commercial Lease Agreement.
- Maintain your property.
Before a new tenant moves into your property, make sure that you have fixed any problems or clean out everything that needs to be cleaned. And if any issue arises in the future, make sure to immediately fix any problems in the property. Always respond to maintenance requests immediately. This is also where checking in your tenants regularly is extremely important. Always ask if there’s anything you can do in case there are small issues today that can potentially cause big problems in the future. Always initiate the communication in case your tenants are shy and are hesitant to approach you first.
- Keep a record of receipts and bills.
Always keep track of important transactions as well as keep a record of receipts and bills. This way, you have a record that can be reviewed in case any concerns arise in the future. Get everything into writing so you will not forget any small details.
- Respect your tenant’s privacy.
While you have the right to inspect your own property, it is still important that you respect your tenant’s privacy. Avoid showing up at odd hours and if you have to do inspections, always call or inform them in advance so they can prepare. That way, they don’t get bothered by their daily routine if you just show up without any prior notice.