Landlords often get a bad reputation, and most tenants have stories about bad experiences with a previous landlord. Luckily, it doesn’t take much to show that you are a landlord who is both fair and professional. Here are a few tips on how to be a better landlord.
Treat It Like A Business
Your property is your business. If your tenants don’t pay you, you will have to cover your mortgage. If something goes wrong, you will need to find a solution. You will have to one step further too. Put systems in place to cover all the things that could possibly go wrong, and make sure you have reliable tradesmen and other help in place, such as Zamora’s & Sons Electric. When you have a tenant, you need to have an organized and systematic approach in place. For example, you should have plans in place for what happens when you go on vacation. You need to inform your tenants and give them an associate’s contact details, in case they need anything while you’re away.
Don’t Let To Bad Tenants
All landlords are desperate not to have their property sitting empty. However, this doesn’t mean that you should let to the first tenant who comes along. Always follow a thorough screening process to make sure you’re letting to good people. The last thing you want is to be chasing overdue payments or be cleaning up after other people’s mess. This will make you less likely to trust other tenants and could cause you to become unfairly strict with other tenants in the future.
Meet Safety Standards
All landlords have obligations to fulfill. One of these obligations is to adhere to all correct safety standards. Have a checklist of these standards and make sure that your property meets the expected criteria for your local area. Gas and electrical equipment must be installed and checked yearly by a registered engineer. Fire alarms and carbon monoxide alarms need to be fitted and checked on a regular basis. Record all these checks and make the records available.
Create A Personalized Tenancy Agreement
Most landlords use a standard tenancy agreement that covers all bases. It’s better to create a more personalized agreement. It’s also a good idea to get legal advice on this. By giving your agreement a personal touch, you can get rid of any ambiguity and irrelevant clauses. Make sure you make it clear who is responsible for what upkeep and maintenance of the property to prevent any future disagreements. Make sure you also protect your tenant’s deposit in a properly secured scheme.
Be Approachable
This sounds simple but is often overlooked. When your tenant moves in, show your face and take your time to make sure they’re happy. It’s often comforting for a tenant to be shown how the hot water and heating work. Give them your phone number and email address. Let them know how to contact you if they have any problems or concerns later on.
