Tips on Being a Great Property Manager
More and more people are going into the business of becoming rental property owners these days, and to be a good landlord you really need to know how to be a great property manager. It starts with ensuring that you have a rentable place for people to live, but it also matters who you are renting to.
If you have been thinking about renting a house or apartment out to people so that you can make some residual income, your first step is to look into the laws and rules in the area you live in. You don’t want to get fined for not having the proper licensing if needed, and you don’t want to have to kick someone out because you found out you couldn’t legally rent your place.
It Starts With the Property
It really begins, though, with having a place to rent to people and making sure that it is a good place. Renting infested properties to people never works out good, whether it’s bugs or rodents. You also want to take other safety precautions into account, like mould and even foundation issues.
Whether you are renting out a house or you have purchased an apartment building, you want the place to be inspected for safety and living conditions. Make sure that it is ready for people to live in it. That also means making sure it’s clean and livable as well.
Remember that part of being a successful landlord is having good renters as well as being a good landlord. You need to make sure that you have the right paperwork for people to fill out in order to weed through and find the right people to rent to. Don’t be afraid to call their references and their past landlords.
Do background checks on renters as well. There are some things that you just can’t learn from previous renters. It may also be worth checking into a possible renter’s credit history. You want to rent to people that you can trust will pay rent on time and not break their lease.
The Importance Of Upkeep
Once you have the perfecter renter and they’ve moved in, your work does not stop there. If you want to be a good landlord to your good tenant you want to make sure that you are doing what you can to keep their living space in tip top condition.
That means following up on repair and maintenance calls quickly and efficiently. If you are in charge of outdoor upkeep, you want to make sure that your tenant can enjoy all the seasons by keeping the lawn mowed and the driveway shovelled.
Basically, a great property manager is there when their tenants are in need, and ensures that the property they own is getting taken care of.