How to Be a Good Landlord

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New landlords usually have good intentions, but many of them fall by the wayside when they realize how much work is involved and when they run across their first bad tenant. It’s sort of a catch 22, if you want to have good tenants and maintain a good property, then you have to remain a good landlord.

 

The first step in becoming a good landlord is knowing what is expected of you by your local housing authority. Get a copy of the laws that pertain to rental properties for your state and your city and read those laws. If you don’t understand them, find someone who can explain them to you.

 

Then make sure your property is up to code and in as good a shape as it can be. It’s easier to maintain a well kept place than to do massive repairs on a run down one. Your tenants will also tend to be of a higher caliber if you have a nicer place to offer them. When you’re doing a property walk through, make sure you provide adequate security.

 

Finally, let your tenants know what you expect of them. Establish written rental agreements and policies and make sure that all of your tenants, existing and prospective, know exactly what is required of them.

 

By keeping a flow of information open and honest you will be respected by your tenants and can be a better landlord.

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