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5 Quick Tips To Make You A Good Landlord

5 Quick Tips To Make You A Good Landlord

5 Quick Tips To Make You A Good Landlord
(Dreamstime)

Changing houses is painful. Most of us would not like to move from one rented place to another. However, when you come to think of landlords, you realise that changing tenants is not easy either. Going through the whole process again and again could be extremely overwhelming. So, how can one ensure one's tenants stay for longer period. The answer is by being a good landlord.

Here are five ways-

Do not over-negotiate

You are offering your unit at a certain rate. Now, it is in the best interest of all parties that you stick to what you propose in the beginning. A tenant should not get the feeling that you might have exaggerated the price and by heavily negotiating, he can make you bring down the monthly charges. It is imperative that you ask for only what is reasonable and allow no fluctuation on that. Over-negotiations would also hit your credibility as a landlord.  

Also read: Tenant Problems That Landlords Face

Respect their privacy

Sure, you are the owner of the property. But now someone else is paying to live in it and would like to run the show there as they like. Comments and suggestions made on your tenant's lifestyle and other habits, even if meant well, might not be received with the same warmth with which they are extended. Unless absolutely necessary, a good landlord would not interfere in the matters of his tenant.

Shoulder your part of the responsibility

You should not depend on your tenant for carrying out new changes in your house. You are using this investment to make money, and how much you get from it would totally depend upon the condition of the property. A well-maintained property would any day get you more in rent than a similar property in a poor condition.

Also read: 10 Things Landlords, Tenants Must Know About Draft Model Tenancy Act

Keep the deal clean

You might have promised renters certain free amenities in your advertisement. Later, you realise that by charging money for the same, you can pocket some additional cash. This is certainly a bad idea. In your attempt to earn some extra bucks, you might turn off your tenant. You must provide your tenant all you have promised at the start of the deal.

Help them settle down

Your tenant might be a migrant, who is new to the city and could use your help in setting down. If you help them in this process, chances are they will stick with you for a longer period and protect your property like their own. A good landlord would also not be upset if the tenant delays the payment owing to some reasons. There are many ways in which you can turn more than just a landlord figure to your renter.

 Also Read: Looking To Rent? How To Find A Good Tenant

Last Updated: Thu Mar 02 2017

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