How to be a Great Landlord

Learn the simplest way to have a great tenant. It’s all about keeping them happy and being kind. It’s that simple, be kind, fair and generous. If you take a step, your tenant will probably take three steps.

Steps

Make an extra effort. If you want your tenants to make an extra effort, you must be the first.

Establish a fair income; do not scare your tenants. It is good to charge an income above the market if your property is above the market value, but otherwise, do not overcharge or create resentment.

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Reward the rent payments timely or in advance (for example, with tickets for the cinema, one ticket or two tickets, coupons to rent DVDs, chocolates, anything your tenant likes).

Know who your tenants are and at least know a little about them. You must be able to engage them in conversation about their lives (for example, “How are little Johnny and Sarah?” “Do you still play golf?”)

Be available to your tenants. If you have a missed call and leave a message, answer them immediately. There is nothing more annoying than a property owner who never answers your call and never returns it.

Talk about options in which everyone wins. For example, if the handle of the door must be replaced, it offers to pay for it if the tenant installs it. Or if a room in the house is very hot, offer to install a ceiling fan for an additional weekly rent payment of $ 7. You must make sure that not only you but both parties benefit.

If you are not going to manage your properties, then appoint an excellent property manager like http://aliandco.org.pk/. Do not name an average property manager; in many cases, the average property manager will not be enough. If you are going to put another person in charge of your income, your support, your children, you want a really good person.

Models of lease documents

These documents will give you an idea of the information that tenants must provide when they rent a property.

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Tips

  • A tenant who will make an extra effort will do the following:
  • Perform minor repairs at your own expense
  • It will add value to your property (for example, when installing a broadband connection, an installation on the wall for a clothesline [if it is a unit/department], or when painting the balcony railing, etc.)
  • Will always pay the rent timely or in advance
  • It will be extremely careful not to scratch the walls or floors
  • It will clean everything very well so that it does not age/oxidize so fast.
  • Communicate clearly what you expect from outside applicants. It establishes rules for punctual rent payments. Maintain the rules for the good relations of tenants with other tenants. It complies with the penalties for failure to pay the rent on time.
  • Do not follow the rule that tenants are always right because it is not true. They are your clients, but you are the owner of the property.
  • Start on the right foot and make sure that your tenant feels comfortable when entering the property on the day of the move:
  • If your tenant still does not move, make sure your property is immaculate before the moving truck arrives.
  • To make the day of the move more pleasant for your tenant, continue and place new rolls of toilet paper in all the bathrooms, a new soap and a pack of paper towels in each sink.
  • Place a package containing six bottles of drinking water in the refrigerator.

Warnings

  • Make repairs to the property in a timely manner.
  • Do not treat tenants like children. They know when the grass should be cut, when the snow should be cleaned, etc.
  • Do not disparage the tenants.
  • Even the best people will resent the landlord if their life at home is not satisfactory. Resentment can only be on an unconscious level, but it makes the tenant take care of the house in a less enthusiastic way. So if you want a tenant above average, be a lessor above average and follow the steps mentioned above.
  • Although the landlord is the owner of the property, the tenant is the person who lives in it. Do not be intrusive.
  • A disgruntled tenant is likely to cause headaches and expenses. You are in a privileged position to hurt yourself financially if you wish, various landlords have spent enough money for cleaning and repairs to your house after the damages caused by a bad tenant. The judgments for damages can be rendered ineffective by the lessee if he declares bankruptcy and leaves you with the invoice payable.

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