Would you like to spend your days working all the time, have no social life and listening to the yanking of the ungrateful tenants?
No need to guess here because your answer or anyone else’s answer will be ‘a big NO’ to this. So, below are some tips for the landlords on how can they avoid all this and be rock star of their own rentals.
Being a landlord is a business, treat it like one
When you are a landlord managing the rental properties then you are running a business. So, start acting like a owner of the business instead of being a worker. Be consistent and build process and systems which you are able to follow. Work on the numbers and stop getting emotional about every little thing which does not work the way you want.
Provide homes which are great
If you want to attract great tenants then simply provide them with the great homes, period. Make sure that you property is all healthy, neat and clean before your new tenants move in. Provide them with the quality work and quality tenants will show on your doorsteps automatically. Make sure that it is better than average.
Fairing housing laws, it’s time to know them
If you are great fan of court houses, attorneys and big fines then this is not the tip for you. But, on the contrary if you want to avoid all this then you must follow fair housing laws. These house laws exist on federal, state and local levels to ensure that landlords are not discriminating against the tenants on any basis. You may discriminate and yet not know about it. So, be sure that you understand them and practice them honestly.
Wait for the great tenant
It is better to wait for the most suitable and deserving tenant than to rent the property to someone who might give you headaches after moving in. Now don’t just wait for them, put more efforts in your marketing strategies so that they come to you.
Tenant screening is important and take it seriously
Screening is the process which helps you in knowing whether the tenant is ideal for the unit or not. As a landlord it an important job to which you must not turn a blind eye. You can verify lot of things about them such as their employment, credit history, criminal history etc. etc.
Follow these simple tips and you will see that being a landlord is just like another job and there is nothing out of the ordinary in it.
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