Are You Being the Best Landlord You Can Be?
Being a landlord has somewhat of a reputation for being the preserve of money grabbing landowners – but there’s no need for it to be that way if you have your tenants best interests at heart. Here, we’ve created a short list of considerations to help you become one of the good ones.
- Scheduling regular maintenance
Although your tenants will let you know if there are any specific or pressing issues, as with any household it is also important to keep up with a regular maintenance schedule to prevent bigger problems from happening down the line. At least once a year and ideally every six months, you should ensure that you conduct a routine safety inspection and maintenance tasks to keep the property safe and pleasant for your tenants.
- Preparing for the worst
While everybody hopes that bad things won’t happen to them, that doesn’t guarantee that it won’t and it is important to be prepared. This is especially true if, like a landlord, you are in a position of responsibility for the safety of others. Investing in something like
CIA Landlord insurance which leaves you prepared for a multitude of situations and enables you to be there for your tenants when they need you. As well as making you a good and responsible landlord, having this kind of insurance will also make life much simpler for you when you encounter difficult situations.
- Maintaining regular contact
As a tenant, there are few things more frustrating than encountering a problem like a broken pipe or power cut and not being able to get a hold of the landlord to fix the problem. If you are going to be a landlord, it is important that you offer your tenants clear lines of communication which you check regularly, including a phone number for emergency issues. Nobody expects you to be at your tenants’ beck and call, but you do need to be responsive, attentive, and willing to work with them to resolve problems
- …but maintaining respectful distance
As much as it is important to maintain clear contact as mentioned above, it’s just as if not more important to make sure you keep a respectful distance. Although you may be the property owner, it’s important not to lose sight of the fact that this is your tenants’ home and they have a right to enjoy privacy and comfort without constant visits. In some areas, if not all, it is even a legal requirement to give tenants 24 hours notice before you visit the home, including maintenance checks. Tenants do not rent a property with the expectation that they will constantly see their landlord!
- Valuing your tenants’ input
As every landlord knows, there will always be some tenants who you just cannot please and who are always asking for frivolous modifications or allowances. However, most tenants are just trying to live happily and comfortably in their home, and you would do well to do your best to communicate with them and respond positively to their needs. If a modification or allowance is impossible, be sure to explain to them briefly why that won’t work, or work on a compromise. If you treat your tenants and their needs with respect then they are likely to do the same for you!
Being a landlord may be lucrative, but it’s also a big responsibility and it’s important to value the happiness of your tenants. Hopefully this list has helped you on your way to being a considerate and responsible landlord.