How to be a good landlord
It can be a fairly daunting task finding new tenants in the current market. Therefore, we at 4pm have provided you with a checklist on how to keep new and prospective tenants happy in the long run. Before you start reading, you need to be aware that being a landlord involves a lot of work and effort from your side; but you probably already know what we are talking about.
1. Your properties need to be in a good condition before letting new tenants in because then they will also be more willing to keep them in a good state. Whitewash the walls, fix any broken household appliances! It may be expensive, but it is definitely easier to be done before anyone moves in.
2. If something breaks, which is unavoidable, try to fix it or get someone fix it as soon as possible. A fast response time is indispensable. But don`t ask your tenants to pay for it because it rarely happens that they destroy it on purpose.
3. Charge reasonable prices, you might even consider rents slightly below the market because then you`ll get a wider range of potential tenants out of whom you can choose the most creditworthy and reliable ones.
4. Be respectful at every stage towards your occupants. It is even worse having troubles with them than with the property itself, so don`t neglect them.
5. Keep your tenants up-to-date: They should know what you are expecting of them so as not to confuse them. Let them know your rules beforehand to avoid problems later on. This includes for example quiet hours and a definition of unacceptable noise; furthermore you should not forget to give them your emergency phone number and to inform them about any rent increases far in advance to avoid disappointment.
That`s it for today. Do you have any tips yourself? Share them with us and
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