From earning a bit of extra cash to being your own boss, there are a variety of reasons to become a landlord. However, it takes more than a lease and a property to make you effective in this profession. It’s your responsibility to care for your tenants and get them the things they need to be comfortable. So, if you’re looking to start a career and lease out your properties, make sure you first learn how to be a good landlord.
Familiarize Yourself With the Laws
To be a good landlord, it’s essential that you’re well-versed on your state’s laws and what you will and won’t be responsible for. Each specific landlord and tenant act contains information on rent, security deposits, party obligations, and overall rights, which helps when writing up your first lease agreement. This is meant to both protect you from tenants that could take advantage of you and ensure that you follow through on your responsibilities. Be sure to stick to these laws if you want to have a positive reputation and be successful long-term.
Get to Know Your Tenants
While you could be a landlord that rarely interacts with their tenants, establishing a positive relationship throughout their stay creates a good experience for everyone involved. Doing this will not only make it easier for them to approach you with problems, but it will also make you more comfortable communicating with them. An open line of communication like this is key to keeping all parties comfortable and happy living on the property.
Take All Possible Safety Measures
As a landlord, one of your legal obligations is to ensure that the property you’re leasing is in safe and inhabitable condition. This requires it to be equipped will all necessary safety equipment and precautions, such as a smoke and carbon monoxide detector, baseboard heater covers, and secure door locks. These things can both keep a problem from occurring and help everyone get out safely should something unfortunate happen.
Follow Through on Repair Requests
No matter how good of a job you did fixing up your rental property before your tenants moved in, things are still bound to break down and need repairs. As such, it’s also your responsibility as a landlord to be responsive in getting these things fixed. Depending on the severity of the issue, the work could interfere with your tenant’s daily functioning and affect their comfort. Being timely with these things is crucial to keeping them happy.
