5 Tips to Make You a Better Landlord

 

Becoming a landlord comes with a lot of responsibilities and commitments; sometimes it’s easier to just get by doing the bare minimum. But what if you put in a little extra effort to make the property a great place to live by establishing a good relationship with your tenants? 

 

These easy tips require minimal to no additional work, but striving to be a better landlord will not only make your tenants’ living experience great—it will also have enormous benefits for you. Showing the property to prospective tenants will become less challenging, fixing repairs will go more smoothly, and tenants will be more likely to renew if they are fond of you—no matter the cost of rent. Just like any business, you want your customers to keep coming back time and time again. 

 

First impressions are everything. Make move-in day as easy as possible for your tenants! Write a sweet welcome letter that reiterates how happy you are to have them, details any miscellaneous information (trash, recycling, parking, cable and Wi-Fi phone numbers, etc.), and concludes with your contact info. Stock the bathrooms with a roll of toilet paper and soap, and the kitchen with a roll of paper towels. Consider leaving a “welcome guide” that provides a list of local grocery stores, pharmacies, and surrounding dining options and activities. This information is easy to find online, and once you create it you can reuse it for every new tenant at the property. 

 

Simple and easy as that. Tenants should be provided with proper and multiple means of ways to reach you in case of an emergency (you don’t want any damage done to the property!). Furthermore, respond promptly. Whether by email, text, or phone, you should be open to any questions or concerns your tenants may have as long as they aren’t taking advantage of this access. If they are, don’t be afraid to set healthy and friendly boundaries by creating certain “office hours.” 

 

Remember that a tenant-landlord relationship is a business one. Always exercise empathy, respond kindly, and use business etiquette when it comes to communication. If you are going away for an extended period of time for work or vacation, let your tenants know that they might receive a delayed response. 

 

One of the best landlord practices is keeping up with the times! With more and more transactions moving online, consider hopping on the technological bandwagon. You can offer online lease signing and rent collection through services like Avail or Cozy. Here, tenants can use automatic rent payment features. Convenience = timely rent payments and a bonus plug for prospective tenants!

 

Even if you are a private person, your business is not. On sites like ReviewMyLandlord and Yelp, tenants can post reviews of both you and your unit(s). Consistently check for new reviews and be sure to address any concerns—both positive and negative. With that being said, be proactive about reviews, as well! Don’t be afraid to ask tenants that you have a good relationship with to write a review when the time is appropriate. 

 

When you’re a good landlord, you attract good tenants. Although you reserve the right to inspect the property, do NOT show up at odd hours (early morning or late at night). Show the tenants that you care about their safety and that you respect their privacy and time. It’s much cheaper— and easier!—to retain tenants than find new ones. Keep your unit—and your tenant-landlord relationships—in shape.

 

If you’re looking for more advice or up-and-coming Los Angeles neighborhoods to invest in, check out our blog or contact us today. We would love to assist you in finding your perfect piece of Los Angeles luxury real estate!