Keep your tenants happy to keep them on your property, and continue collecting that rent. This might seem simple enough as a rule, but the execution takes some effort. Yes, it is easy to wash your hands of all that work and hire a property manager to do it for you, but then you would have to split the check. Property managers might also have a completely different approach than what you may have preferred to offer, bringing completely different results.
If being a landlord is all you do, the hands-on approach is the best and most profitable one. And it is actually not that hart. Here are some tips on how to do it efficiently and leave your clients happy and paying.
- Make inspections. How could you possibly be aware of any problems if you are not surveying the place every now and then? Yes, you could have your tenants ring you up every time there is an emergency, but what about the things that are an issue, but they do not consider an emergency? Maybe there was some mold, and they neglected it, but later it grew into a huge ugly mark, accompanied with a bad odor. You would get complaints about it and now you have to spend money on more expensive products or a more expensive cleaning company when all this could have been dealt with much earlier and much easier before the stain grew. This is why you need to make your own regular inspections. Do not be invasive, though! Do not randomly let yourself in to look around your tenants’ private life. Make specific arrangements for dates with the tenant. The optimal choice is to do the inspections when collecting rent.
- Be ready with answers. You should always have a list of repairmen, cleaning services, builders, pest control services, and even removal services, which you can use or offer in case of need. If you want to be helpful to tenants who are not from around, help with lists of supermarkets and stores, clinics and hospitals, pet shops and vets. Speaking of pets, be decided on whether you will allow pets on your property or not. There will be more options for tenants if you would, but probably more damages as well. Then again, they might not be damages on your property, so there might not be anything to worry about anyway. In any case, be ready to tell your tenant that he cannot house dogs, no matter how big the puppy eyes he or she gives are.
- Be quick. Always react as soon as possible at whatever issue your tenant has. It does not matter whether it was his or her fault or not, the problem should be solved quickly. This helps not only for better attitude from the tenants, but if you are a landlord of a block of flats, you might get recommendations to more tenants. Good relationships with your tenants will always pay off. Do not get tardy on your work or you may soon see your tenant’s moving van waiting outside.
- Inspect drains and heating/air-conditioning. This is very important as it will save you a lot of headaches given by your tenants. Clogged drains will not only bring complaints and cries for help, but also property damage – the one thing you want to avoid most. Tenants will come and go, but you need to clean and maintain the property to keep them coming and going. Heating and air-conditioning systems can bring you a lot of problems as well, but their inspections may be fairly less frequent than, say, drains. To check them for issues once a year is enough, but you do need to change filters every once in a while.
Being a landlord requires a lot of dedication. Despite what many people think, it does not cut it to merely own a property, give keys to tenants, and sit and wait for the rent’s cash flow. You need to be hands-on with your tenants and with your property, to give the best effort in order to get the best result. Avoid earning work for all the house movers and promote yourself instead. A good maintenance and good relationship with the tenants will take you far.
More tips on maintenance read at: docklandscarpetcleaners.org.uk