It is a privilege to be a landlord. Now, that doesn’t mean it’s easy. With great privilege does come great responsibility. There are many bad landlords in the world, so, to show how different you are, follow these eight simple tips to being a responsible landlord.
1. Vet, vet, vet
The first way to be a responsible landlord is to not let out your property to bad tenants. Ensure you take proper references and do not fall for the first tenant that applies. Set up thorough screening processes, and it will save you time, money, and effort in the long run.
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2. Take maintenance seriously
Consider hiring dedicated rat and mice control to check on the property periodically. You’ll be surprised at how quickly they can invade the space, and by employing professionals you’ll save money in the long run by avoiding a full infestation.
3. Reinvest
It’s important to reinvest in your property, even if you have existing tenants in the property. If you’re letting it out again after it’s been inhabited by other tenets, consider a repaint — removing signs of wear and tear, and keeping the place looking fresh, will encourage tenants to look after your property. Recarpeting and upgrading appliances would also not go amiss — these updates can make a huge difference to tenets.
4. Be approachable
What you don’t want is tenants being too afraid to raise an issue and then being landed with a large bill when the boiler is broken. Fostering positive, useful relationships will help you significantly. Whilst it’s important to be friendly, you must also work to impose boundaries. For example, tenants should know that they can call any time about an emergency, but not for trivial matters.
5. Provide quick solutions
When a landlord calls you with a problem, you want to be able to rectify the issue quickly and efficiently. When problems aren’t addressed, your tenants will be incredibly unhappy. So, be prepared and collect a list of trusted tradespeople who you can call on to fix any issues that may arise. Fostering these strong relationships is so important to saving you time and effort.
6. Don’t forget the inventory
Taking a thorough and efficient inventory can be a tedious task, but it’s so important. Ensuring this is up to date means that you can secure your property and possessions. You will also reduce the possibility of losing a dispute. If you need a little help, you can also hire dedicated inventory services.
7. Know when to step back
The last thing a tenant wants is to have an overbearing landlord. No matter how great a tenant is, if you’re being unreasonable, they will walk away. You must respect that your property is their home, so ensure to give sufficient notice (at least 24 hours) before a visit.
Hopefully, you have learned a thing or two about becoming a responsible landlord. If you need any further support or information, consider joining a landlord group where you can network and share information.
Photo by Kindel Media