Being a good landlord is the key to having fewer headaches with your property and securing the most amount in rent from tenants. Everyone has heard stories of terrible landlords and social media sites like Yelp have helped spread the word. So what can you do to get some good ratings and have happy tenants? We have 5 great tips for you:
1. Check Tenant References
You should actually make those calls to check your tenants’ references out. It is important that you not only look at their financial possibility to pay but also vet out from previous people how they are as people. This will help you have quality tenants.
2. Hire a Property Management Company
Property management can be a stressful and time consuming activity. By hiring a company that specializes in it, you are providing a great service to your tenants and taking a lot of headaches off your plate.
3. Respond to Complaints
No one likes to deal with problems but it is an important aspect of owning rental property. When your tenants have an issue, take the time to listen to them and the steps needed to resolve it. Timely resolution of problems can mean a lot less problems down the road.
4. Be Diligent About Legal Responsibilities
If you have a property management company, they will make sure that you are taking the necessary procedures to have your property up to date in all legal and financial responsibilities. If you manage it yourself, make sure you are diligent about these items.
5. Provide a Safe Property
Safety is one of the most important considerations for a landlord for their tenants. Not only does it prevent problems down the road, but it helps keep tenants safe and happy as a resident of your property.