As a landlord, you’re competing with over 20 million rental properties for tenants. To attract quality renters and keep them happy, you need to be a good landlord.
It’s more than just providing housing. It’s about giving your tenants a safe, comfortable living environment and responding to their needs. You’ll see an improvement in your rental income and a decrease in turnover as well.
This post will teach you how to be a good landlord and keep your tenants satisfied. Read on for 4 landlord tips on effective property management.
1. Have Clear and Consistent Tenant Rules
When you’re a landlord, your goal should be to make sure your tenants know what the rules are. It’s not enough just to tell them—you should also give them a copy of the rules by putting them in writing. This lets everyone know what’s expected of them and helps avoid confusion or even arguments later on.
If you’re going to have any rules for your tenants (and you probably will), make sure they’re clear and consistent across all spaces. When rules are broken, always follow through with the consequences.
2. Avoid DIY Repairs and Maintenance
DIY repairs and maintenance are all the rage these days for managing properties. You might think you can save money by doing everything yourself, but that’s not always the case. You may risk losing money, your tenants, and even your safety.
Instead of taking on DIY projects, hire a professional who has the right tools and skills for the job. They’ll work quickly while protecting your reputation with renters.
3. Learn the Real Estate Laws
Becoming a landlord is entering a business. This means you need to know the laws and regulations that govern your rental services in California.
For example, you can’t turn off your tenant’s utilities when they miss a payment. If you didn’t know this, then you may have been hit with a hefty fine and even jail time because of an irresponsible renter.
4. Remain Calm When Handling Concerns
There are some situations in which you might feel inclined to lose your cool. Maybe it’s a tenant who is late on rent or is causing other problems for neighbors. The best thing you can do is remain calm and not get defensive when things go wrong.
If you get angry or upset about any situation, it will only make things worse than they already are—and nobody wants their landlord yelling at them!
Get Insider Advice on How to Be a Good Landlord
If you’re wondering how to be a good landlord, the solution is simple. Find a property manager you can trust to help you navigate the legal and financial aspects of renting out your home. Your property manager should be able to provide guidance on how best to maintain your rental unit, communicate with tenants, and set up tenant screening processes.
The Blue Line Real Property Management team has been organizing rental units in the California Bay Area since 2005 and is a trusted resource for landlord tips and advice. Call us and we’ll help you make the most of your property. Landlords in Brentwood, Oakley, and throughout the Bay Area can rely on us for support and hands-on property management services.