How to be a Better Landlord in 6 Steps
Here’s a simple question: Is being a landlord easy? While the question is simple, you won’t get an easy answer. If you ask any seasoned landlord this question, you’ll most likely get a no. Trust us: Rentalutions works with thousands of landlords across the country and we hear it all kinds of tales from both landlords and tenants. A lot goes into being a good landlord–and a lot more goes into being a great landlord. We want to give you all the advice and tools you need to become a great landlord.
We’ve thought of some simple tips to follow to make sure you are one of the landlords that tenants rave about for years to come.
This may sound like common sense, but you would be surprised by how many landlords lose sight of this. One thing that can really impress tenants right off the bat is a welcome package left in the property on move-in day. It can be a basket filled with toilet paper, paper towels, all-purpose cleaner, and a 6-pack of beer (if tenants are of legal drinking age, of course!) or flowers. This is a very small and affordable way to show you care and it’s something that goes a long way in the mind of a tenant.
Another thoughtful idea is to send your tenants birthday cards in the mail. Who doesn’t like receiving snail mail? Even a gift card to a neighborhood restaurant around the holidays is a great touch. These small acts will mean so much to your tenants and leave a lasting impression. Trust me: when your tenants like you as a person they are much more willing to respect you and your property as a landlord!
There are a ton of ways to show you care outside of the ideas I listed above. The main principle is to just show empathy and understanding for your tenants as human beings. A lot of tenant-landlord relationships are surface level and most prefer it that way. But everyone deserves to feel like they are cared about and same goes for your tenants!
For more helpful tips, read 8 Great Tips For Welcoming Tenants Into Your Rental.
Humans are creatures of imitation, so it’s a good policy to lead by example in every situation. Say you have an open house scheduled at 3:30 pm and you show up at 3:57 pm. This is a surefire way to turn tenants off and show them it is “ok” or “acceptable” to be late. This can translate in all the wrong ways in their mind. You don’t want them to jump to drastic conclusions, like that paying rent late is acceptable.
Set the standard for your tenants from the start so they never have to question what is right or wrong. If they email you and it takes a week to respond, then don’t expect them to have prompt email responses back when you are trying to reach them. Remember that the tenant-landlord relationship is always a two-way street. When you act like a grade-A landlord your tenants will be much more inclined to act like grade-A tenants.
Clear communication is vital for healthy and happy landlord-tenant relations. Be clear, precise, and professional with all communication. Give your tenants multiple channels to reach you, and be clear with them about what channels you prefer (ex: phone call vs. text message).
If your tenant owes $55 for a broken window repair, make sure you communicate that in written form so they have something for reference and be clear to state the exact date you expect that amount to be paid to you. Rentalutions offers both you and your tenants an easy platform for communication where you can add charges such as rent, late fees, and maintenance issues in a template like the one below that will be sent in an email notification. We clearly communicate for you!
When your tenant comes to you with a question or issue, it’s vital to respond promptly. This is especially true when it comes to maintenance issues. Make sure you don’t let an important issue wait weeks before it’s visited. These are the times to ask yourself, “Would I want to live with a broken washer/dryer for 5 weeks?” Probably not–and neither do your tenants.
Rentalutions makes being proactive a natural process. We notify tenants when actions are expected or required of them such as completing an application, signing a lease, or making a payment.
If you decide to use Rentalutions’ online rent collection feature, we notify the tenants both 5 and 3 days before the exact due date, on the rent due date and via email notifications if the rent is late. This way there is never a lack of communication. Interested in having your tenants pay rent online? Read 5 Reasons to Collect Rent Online.
The last thing any landlord wants is a lawsuit. Read, read, and read some more on all of the applicable state, county, and city real estate laws. It’s important to ensure that you’re following the law, especially in case-sensitive situations like the application process, screening process, lease, and security deposits. Rentalutions helps aid a lot of the legal issues by supplying you with legal, secure documents.
We offer rental applications and online lease agreements that can be digitally signed creating a legally binding document. Our leases are customized by city and state, and can be used nationwide. If you aren’t already convinced, here are 7 Reasons Why You Should Sign Your Lease Online.
Being a landlord doesn’t always have to be stressful. Make your life easier by using a property management service like Rentalutions, where everything from rental applications, lease agreements, and online rental payments are all located in one central location for your tenant(s). Rentalutions is a one-stop platform where tenants can go to complete just about any task associated with their rental property. We also provide assistance through multiple channels such as phone support, email support, and a live chat forum.
We know being a landlord isn’t always easy, but Rentalutions wants to help empower you with the tools and advice you need to be a great landlord. For more advice on becoming a star landlord, check out some of our other blogs: 15 Easy Ways You Can Be An Awesome Landlord & How to Be a Landlord in 32 Steps.