Being a landlord comes with many responsibilities regarding your tenants. There is a long list of things to accomplish, like drafting lease contracts, taking charge of repairs and calling companies like House Clearance Cheltenham to help you clean up messy apartments for your future tenants. If you want to be a successful landlord, then you need to take this job seriously. Here are some helpful tips on how to do the job right.
- Avoid dealing with family and friends as much as possible
One of the hardest parts off being a landlord is accepting close friends and relatives as your tenants. You will be placing yourself in an awkward position whenever there comes a time that they cannot pay the rent on time, or they encounter other problems. There are some cases where you will be forced to give up the excellent relationship that you have with them because of money matters. That is why it is advisable not to put yourself in this kind of situation.
- Make it a point to conduct a background check on future tenants
As a landlord, you want to ensure that your tenants can afford to pay their monthly rent on time. There is nothing wrong with screening them beforehand to avoid major headaches in the future. Make sure that they have a stable job and a good credit history. Also, as much as possible do not accept tenants that have an eviction history in the last three years because there is a big chance that the same thing will happen again. If you are unsure of being able to do these things yourself, you could hand over the entire property management to a company that has professional expertise in this area. That way, all your properties will be managed and maintained, including tenant checks, and you will not have to worry about a thing.
- Always make sure that your tenants are satisfied with your service
When you have a rental business, you have to understand that it is more cost-efficient to retain good-paying and cooperative tenants rather than look for a new one. So, make time to listen to their needs and complaints, and resolve them as soon as possible, especially if they’re long-term tenants. Suppose there has been an increase in the number of EV drivers around; you could set up an EV charging station with the help of RAW Charging, or a similar company. Tenants will decide to stay longer in your property if you show them that you care and provide amenities that make life easier. In fact, they might even refer you to others seeking housing solutions. When you treat people with respect and regard, then your business will continue to thrive.
- It is an excellent idea to reward your tenants from time to time
Nowadays, it is hard to find tenants who pay the rent on time and follow all the house rules without any complaints. Even if they should do these things, it is still a good idea to show them your appreciation by giving them small rewards. You can provide them with gift vouchers, movie tickets or a small bag of goodies as a way of saying thank you.
- Make sure that a lawyer looks over your contract
To be fair with your tenants, make sure that all the provisions stated in the agreement are legal. Consult with a real estate attorney and have him review all the stipulations in your documents before letting your clients sign them. The last thing that you need is to get in trouble with the law.
Lastly, make it a habit to treat your tenants nicely, and never discriminate.