Most people are always looking for ways to improve their job performance. Landlords are no exception. If you are a new landlord, here are some tips to becoming a great landlord:
Consistency: Tenants will respect a property owner if they know they are consistent. So, make sure your late rent notices are distributed exactly on the 7th day. Make sure you conduct inspections when your lease agreement says you will. Only you can protect the integrity of your business, and a great way to do this is to live up to your own expectations.
Knowledge. A great landlord will always know the landlord/tenant laws. In addition to the Fair Housing Laws, you should also know your city and state laws as well. Also, it doesn’t hurt to network with other landlords in your community or through online forums and social media sites. You can learn a lot from others in the business, and share your own experiences to help empower others.
Respect. Great landlords also respect their tenant’s right to privacy. Make sure you always contact them twenty-four hours in advance of inspecting the property. It’s also not a great idea to show up unannounced. If a tenant was good enough to pass your background screening and application process, then there should be no reason for you to unnerve them and drive by the property every afternoon to spy.
Communication. Excellent landlords returns phone calls promptly. Make sure you keep the tenant up-to-speed on scheduled maintenance repairs. Also, a great landlord will reach out and contact tenants two weeks to a month after they move in and ask if everyone is okay.
What other characteristics make up a great landlord?
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