photo credit: Cindy Funk
Landlords can actually be their own worst enemy. It’s important to remember that being a landlord is a business above all else, whether you’re renting out a room in your home or you own a large number of multi-unit buildings.
The first thing all landlords should do is familiarize yourself with your local and state laws. Learn them not only from your point of view but also research your tenant’s rights.
Next you’ll want to make sure you have all of the paperwork in order. Generic application forms and leases can be found online, but you shouldn’t settle for generic. Take the time to look over the paperwork and tailor it to fit your needs, building, tenants, etc. Also check to see if it complies with the laws of your region.
Then make sure your units are in order. Are they safe, secure, livable? Is there anything on your property that could cause problems for future tenants? If there are issues, get them fixed promptly and keep to that policy to avoid conflicts.
Finally, place advertisements that are appealing, honest and list all of the pertinent information. You want to attract the right tenants, ones that can afford your price, will not cause problems or annoy other tenants, and people who will respect your property.
Tags: Propterty Management, Rental Property Management, landlord, tenant
