If you’re going to be a landlord, make sure you’re a good one. Your properties will always be occupied, you’ll have contented tenants and you’ll be making the most of your investments. Here are some tips on being the best landlord in your town:
- Fair Pricing
Setting the right price for your area is vital and some research might be needed into current market conditions. The main aim for tenants is to save money and get the best value. Too high or too low and you risk having a property standing empty or not getting quality tenants. It’s a fine line and an important one to get just right.
- Respond to Maintenance Quickly
One of the biggest tenant grumbles is a landlord who ignores their communication. The best landlords deal quickly with repair issues. Responding to communication in a swift fashion, organising a time to inspect damage or faults and taking appropriate steps to resolve the issue are the things that build a good relationship between you and your tenant.
- Consider Incentives
You could look into offering incentives such as reduced rent for tenants who pay their rent a year or 6 months in advance. The incentives don’t need to be amazing or complex, just a little something to generate additional excitement in your property. If nothing else, it will encourage your tenants to stay long term. They will feel valued and everyone enjoy a saving!
- Show Some Interest
Treating your tenants like people and not cash cows makes good personal and business sense. To make your tenants feel they know you on a personal level can also encourage them to take better care of your property. Being a faceless stranger and only communicating through letter or email won’t foster a great relationship. Show some real interest and invest in building that relationship that will pay dividends in the long run.
- Remember to Make an Inventory
It’s not a glamourous task and you might want to let a property management company deal with this on your behalf, but it is important. Detailing the contents and their condition before tenants move in will prove incredibly useful should there be any disagreements over damage or what belongs to whom. For a professional Gloucester Letting Agent, visit Alexclarkglos Gloucesters letting agency
- Allow them to Feel at Home
It’s good to be friendly and get to know your tenants, but don’t become too overbearing. Once they’ve settled in, allow them the freedom to enjoy the property like it’s their home. A friendly monthly email is perfectly acceptable, but don’t ever turn up unannounced. Tenants need to enjoy their home like anyone else and don’t want to feel hassled. You also need to supply adequate notice if you want to access the property for any reason. This ensures you keep your tenants very happy indeed.