Are you just getting started as a DIY landlord? If so, we know that self managing your rental properties is one of the toughest things that you can do that’s why in this article we will provide you with tips on how to be a better landlord.
1. Be organized.
In other words, treat your business like a business. See, a lot of people (myself included) get into landlording and then treat it like some pastime or quick hobby. It’s not that big of a deal.
It’s only one tenant. It’s only one thing. At the beginning, that’s what people do.
But we encourage you to treat it like a business from day one. What does that mean? Be organized. Keep your paperwork in folders. Get a file cabinet. Maybe get a phone number—even if it’s a free Google voice number.
Keep organized. Pretend you have a business of 1,000 units. How would you organize that at the beginning? And then you’ll grow into a more organized business . The more organized you are, the more happy everybody is, the more streamlined your business runs.
2. Understand your local laws.
Look, every single state is different in regard to the laws governing landlord and tenant. But also cities have their own laws, as well. You need to be aware of what your local laws are, which means you’re going to have to do some reading.
3. Do what you say you’re going to do.
So many landlords out there say they’re going to fix the leak, or they’re going to improve the property. They’re going to paint something or do whatever. They’re going to show up at this time. But they just don’t do what they say they’re going to do. So, not only does that make your tenant frustrated, but it also makes your property worth less value over time because you’re not maintaining it the way you should be.
If you say you’re going to do something, hold to that like it is the most important commitment in your life.
Source – Bigger Pockets
Contact 36 North Property Management
Want to grow your portfolio of investment properties in a stress free way? If so, the key to success is to hire a property management company.
Our company can offer you a full suite of property management services including rent collection, property marketing, maintenance, customer service and more.
To learn more about the property management services we can offer you contact us today by clicking here!