Landlords: Here’s 5 Tips to Make Your Job Simpler as Property Manager
When you are just getting started as a landlord, take a moment to think about what you can do to make your life more simple and more straightforward. Dealing with tenants can be frustrating, but if you want to make sure that you are as prepared as you can be, consider these five important tips.
Accept Multiple Forms of Payment
The thing that many people do not understand is that their tenants want to pay their rent. They do not want to go through the process of being evicted any more than you want to evict them. Let people pay however they can. Take cash, money order or checks, and make it easy on everyone. At the very least, you’ll see plenty of adorable Disney check designs.
Make Sure That Your Leases are Legal
A lease is not legal just because it is a template that you found. Local ordinances can actually make whole sections of your lease illegal. Litigation is very difficult if you have some sort of illegal issue on your lease, even if it does not pertain directly to the matter at hand.
Create a Screening Process
If you are someone who is invested in making sure that your tenants treat the property right, make sure that you set up a screening process. Make it a point of practice to call previous landlords and to make sure that the tenants that you rent are responsible people. You may also wish to perform credit checks, though taking a higher deposit as a sign of good faith is something that can also work.
Be Careful Who You Hire
The staff that you bring on could be the best or the worst choice you ever make. Make sure that you consider the people you hire in terms of sexual or physical harassment risks. Be aware that you might be liable for their behavior. Always consider who you are speaking to, and protect your tenants by knowing who you are bringing into their space.
Join a Local Landlords ‘Association
Just like there are renters’ associations, you will discover that there are also landlords’ associations that can help you out as well. You can meet with other professionals in the area, you can take sample leases, learn about important building and legal requirements and you can network regarding excellent lawyers in your area.
There are many different things that you can do when you are looking at protecting yourself as a landlord, so consider your choices carefully!