STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

How to be a successful landlord in five easy steps

Tenants that have nothing but respect and praise for their landlords are the sort of tenants that are likely to be loyal with payments and stick around. It is a no brainer, the better you are to them, the better they will be to you.

Being a good landlord is more than just being a friendly face, it also means not skimping when it comes to getting necessary repair jobs done, according to the experts at Quick Clear Drainage, which work with a number of landlords across the country.

The company has identified the following five important things that you need to check off your list to make sure you are doing the job properly.

1.         Maintenance

This is often the biggest complaint that tenants tend to have for their landlords. As a landlord, it is your legal responsibility to ensure that the property meets safety standards including gas and electricals alongside drainage issues that may be causing blocked toilets and sinks. Alarms and systems must be up to date and checked regularly. Maintaining the residence as a safe location and responding to issues your tenants raise is the vital step to becoming a trusted landlord (and to not breaking the law.)

2.         Be reachable.

Even just being at the end of the phone when necessary can make a huge impact on how you’re judged. There’s nothing more frustrating for tenants than not being able to reach you when they need to. You don’t have to be popping in every five seconds, but making sure the tenants have your phone number and email address shows out right that you are serious about being a point of contact for them throughout the agreement.

3.         Don’t be a cheap fixer

Your reputation could be greatly damaged if you decide to fix issues with the cheapest and worst options possible. Nobody wants a botch job fix of a toilet or microwave that will only last a few weeks. This is also doing yourself a favour, although shelling out initially for proper repairs and maintenance of a property can seem annoying, in the long run it’s probably going to work out cheaper. Constantly having to get quick cheap fixes for clients will soon add up. 

4.         Warn about raising costs

If you find yourself having to increase the rent, it’s vital to pre-warn your tenants. Taking more from their account or only telling them of the rise the month it begins isn’t not good enough. An unreasonable rise can also cause tenants to suddenly leave, leaving you with the cost of arranging new viewings, credit checks and tenancy agreements. Don’t be the landlord that leaves a family with no choice but to leave due to unexpected and unexplained rise in rent costs.

5.         Don’t be a nuisance

It’s important to give tenants space. You have the obligation to provide a minimum of 24 hours’ notice before entering the property for a review. Giving tenants the space that allows them to feel they can enjoy their own home and privacy is key to getting tenants that are likely to stick around. Naturally if you feel like you’re always being watched and treated with suspicion, you’re not going to enjoy your time there and are not going to want to stay.

These are just a few important things to keep in mind as a landlord. If you stick to these and build trusted relationships with tenants, you’re well on track to a happy career. 

icon

Please login to comment

valpal
submit
sign up