What it Takes to be a Great Landlord

Better landlords have better tenants. Considering the amount of time and effort that it takes to find a great tenant-some estimates are between twenty and thirty hours, with advertising, showing the property, and reviewing applications. Not to mention going through the lease process once you have found a tenant, signing the lease and key exchange. Keeping a great tenant can save you hours of your time and unnecessary hassle. Learn what it takes to be a great landlord and have the best possible chance of keeping those great tenants you have.

So what do you keep those great tenants and have them feeling that you are a great landlord? Most tenants will agree that a great landlord treats them as customers. The landlord follows the law and the lease. A great landlord is professional. They remember that they are running a business and their actions reflect this.

Here are some tips on being a great landlord

First and most important, provide your new tenant with a clean place to move into. This includes having all appliances sparkling. Make sure that carpets are professionally cleaned by a company that does carpet cleaning for a living. Providing your tenants with a clean property to move into reduces their stress and also sets the expectations of what the place should look like when they move out.

Be warm and welcoming to your tenant. If they are new to the area make sure that you are helpful with the best place to get a cup of coffee, best Mexican restaurant, and best grocery store. Provide them with a one page document that goes over what day is trash day, numbers for utilities and where to park their automobiles. Don’t forget to provide them with their new address, complete with zip code. If it is easy for you a nice touch is to provide them with a sheet of personalized return address labels. This may sound silly but small details make a huge difference. Don’t forget to write them a warm welcome letter that thanks them for renting your place and welcomes them to their new home and the community. Remember you are doing what it takes to be a great landlord. It is the the little things that make the difference.

Walk the tenants through the lease. This is an agreement between the two of you. You need to know that they know what their responsibilities are. Review the important sections. Walking them through the lease shows that you are someone that is fair and that they can trust. It is important that you also follow the lease. If there is ever a problem with the tenant, the lease is your guide on how to handle the problem. Be consistent. Always follow the lease exactly! If the tenant is late with the rent, there is no first chance, no matter what the story, “the lease says.”

Be accessible. If your tenant needs to reach you, you need to be reachable. Respond promptly when the tenant calls or emails. Remember this is a business. If you are going out of the country or unavailable for an extended period of time, let your tenant know what to do in case of an emergency. Provide them with a contact who can handle your business while you are away.

Always keep your cool! Never yell or swear at your tenant. Whatever the situation, whatever the problem, keep your cool. remember that your tenant is your customer and that you are providing a service. Also remember that your tenant is not your friend. You can be friendly, but draw the line there. This is a business relationship and it is important to keep that emotional distance in case there is ever a problem.

Now you have an idea of what it takes to be a great landlord. It is the little things that make all of the difference between you being an average landlord and being considered a great landlord by the tenants. These tips are just a few of what can be found in the book: Exposed, Success Secrets for Landlords. The book can be purchased from Barnes and Noble and Amazon!