Avoid Landlord Shortcuts
If you're new here, you may want to subscribe to my RSS feed. Want more frequent updates follow me on Twitter. Thanks for visiting!
photo credit: zimpenfish
Like all businesses and business people, sometimes landlords, property managers and property owners get overwhelmed at times and resort to some shortcuts, but some of these shortcuts can be very detrimental to your business. Avoid the following shortcuts at all costs.
Outdated or generic forms. There’s nothing wrong with a generic form if you go through it carefully to make sure that it fits your situation. And outdated forms are just asking for trouble. Keep up to date on all of your legal documents.
Rushing through screenings. Or skipping the screening altogether. It’s important to follow every single aspect of a tenant screening for every prospective tenant that comes along. You could not only rent to the wrong people but face future discrimination suits.
Not following through on tenant requests. Whether your tenant wants to ask a simple question or is demanding a major repair, you need to keep the lines of communication going and respond promptly to all tenant issues.
Keeping security deposits. Either keeping the deposits entirely or holding on to them too long is a big no-no. You want to keep your good reputation and standing in the public and this is one thing that really upsets tenants and tenant advocacy groups.
Be professional in everything you do and remember that you’re running a business that directly affects other people’s lives. Shortcuts are tempting but often lead to more problems than they are worth.
Tags: Property Management | landlord | tenant
This entry was posted
on Friday, August 1st, 2008 at 3:30 am and is filed under Property Management.
You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.