Being The Best Landlord Your Tenants Need You To Be
If you have recently decided to get into the property market then you will be wondering how to be the perfect landlord. If you are renting your properties out to people then you will be in charge of everything that happens within the property. For instance, if your tenants say the boiler isn’t working then you will need to get an engineer out to check it. Take a look below to find out how to be the best landlord for your tenants.
Find Your Properties
One of the first steps in becoming a landlord is finding the right properties to let out to your tenants. You could take a look at local house and land packages to get an idea of areas and prices. If all comes down to where you want your tenants to be located and who you are catering for. Different people will have different requirements for houses they are looking to rent. For example, if you have professionals living on your property then they may want to be near transport links. Whereas families will want to be located in an area with great schools and parks.
As a landlord, it is down to you to have all the necessary paperwork in place to protect you, your property, and your tenants. There are companies that have bundles you can sign up to as a landlord. Do read through everything though so you are aware of what you are signing. You will also need to get everything down on paper when it comes to getting your tenant’s signature. It is advisable to go through the tenancy agreement with them so they are clear about what’s on it.
Hire A Team
You will need to decide if you are going to manage your properties yourself or hire a property manager to do it for you. There are pros and cons to both, if being a landlord is your second job then you may feel it’s easier and less time-consuming to use a property manager. This way, anything that relates to the house and your tenants goes through them rather than you. It might also be useful to have a team of contractors under your belt. This will help get repairs and anything else done relatively quickly as and when it needs doing.
Be There For Them
Finally, your tenants will be relying on you to make sure everything is in fine working order in the property they live in. If they are calling you with issues then it is your responsibility to sort this out for them. You might feel like your tenants call you all the time with a new problem, this isn’t them being annoying. It is simply the people living in your homes, who want their homes to be nice places to live. If they want to change anything then be reasonable, for instance, if they want to decorate their child’s bedroom then you could allow this. A lot of tenants have a clause in their contract that states they have to change the walls back to how they were when they moved in.