Unfortunately, landlords have somewhat of a bad reputation, and most tenants have a negative story to share about previous landlords. Despite this, this doesn’t necessarily mean that they’ve had bad experiences; there’s just a widespread disdain for the profession. This can be hard to avoid; however, one of the most effective ways of doing so is to be the best landlord you can be. As a result, you should just work to be respectful and fair, which can be achieved in a number of ways. Detailed below are just some of the measures that can be implemented to ensure you’re considered a good landlord, whether you’re managing residential park homes or brick-and-mortar properties.
Firstly, you should characterize yourself as an approachable person. This means being present in the moving-in process without being overbearing. Just make sure they’re happy and they know who you are, so they feel comfortable coming to you if they encounter any problems with the property. On the moving-in day, you might show your tenants how the hot water and heating work. In addition to this, you should hand over your email address and phone number, informing them that they can contact you regarding any concerns that may arise.
Create Personalized Tenancy Agreements
Typically, landlords use a generic tenancy agreement to cover all bases; however, it might be more effective to create a more personalized agreement. It would be sensible to obtain legal advice about this, but a custom agreement can mean that irrelevant clauses and ambiguity can be eliminated from tenancy agreements. This means it’s clear who’s responsible for the maintenance and upkeep of the property, meaning misunderstandings can be steered away from in the future. Similarly, although it may seem obvious, protecting your tenant’s deposit in a secured scheme is unequivocally essential.
Meet Safety Standards
As with anything, safety is a number one priority for a landlord. This means that landlords must fulfil a number of obligations, such as following all the necessary safety standards. After all, a property is required to meet a minimum set of criteria in which electrical and gas equipment should be installed and serviced on a yearly basis by a registered engineer. Similarly, carbon monoxide and fire alarms should be fitted and serviced on a regular basis, too. Such activities should be recorded, and they should be available for the tenant and landlord to see.
Don’t Let to Bad Tenants
While it’s true that there are bad landlords out there, there are also bad tenants. This means that landlords shouldn’t let their property to just anyone. A thorough screening process should be carried out to ensure that the tenant is able to make their rent payments, and on time, too. Cleaning up after tenants and chasing them up on payments aren’t things that any landlord wants on their shoulders. Additionally, a bad experience with a tenant could affect how a landlord carries out their duties in the future, as trust issues may be created, which could result in an unfair, strict landlord.
Treat it Like a Business
As a landlord, your property is your business; this is your means of bringing in income to pay your mortgage. If unforeseen circumstances occur, it’s on you to find a solution, which is why you should already have measures in place to address all eventualities. The process of letting to someone should be systematic and organized; this includes having a trustworthy contact in place if you’re to go on holiday. Keeping on top of everything at all times will help ensure that everything runs seamlessly. Of course, there will be bumps in the road, but it’a bout being prepared for these at all times.