Here are some tips on how to be a good landlord to your tenants
Renting out your property can be a lucrative business venture so long as you have enough preparation in marketing your property, running it, and dealing with your tenants. However, if you think it is as easy as it sounds, you are dead wrong. It is, after all, a business and will involve a lot of effort and time because you will be dealing with repairs, rental payments, complaints, and many other problems.
You have to have all your bases covered in order to thrive in the rental property business. However, it is every landlord’s dream to have a great professional and long-term relationship with his tenant. After all, happy renters mean great business. Here are some tips on how to be a good landlord to your tenants.
- Screen Your Tenants
First and foremost, the property is yours even if tenants pay the rent, which means you will still be responsible for whatever damage your property incurs at the end of the day. Part of the responsibility of being a landlord is educating tenants about the terms on damage and repair. However, what you can do to avoid these issues from occurring in the first place is to screen out the bad apples among the bunch; that is, pick the best tenant you can find.
You do not have to put your prospective renters through a rigorous interview. The basics such as their employment status, previous rental history, family size, or the extent of their willingness to pay for repairs would suffice (this would be good inclusions when you are drafting a lease contract, too.) While trusting your gut feeling may seem irrational, sometimes instincts can help.
- No Landlord Is an Island
In a business that other people see as less stressful, it seems like everything is happening all at once. A whiney tenant, a broken sink or pipe, creaky doors, protruding electric cables, and whatnot—there are just times that make you want to pull all your hair out. But you do not have to bear that entire burden all alone. Sometimes a push of a button is all it takes to call your plumber to relieve you from all that stress. Always have those go-to people in case of emergencies and keep them all in your contacts list. There may not be a landlord association in the Zimbabwe, but you can take advantage of the Internet and all the real estate resources we have nowadays—it pays to learn from other people who are experiencing the same dilemmas.
- Safety First!
Simple advice: always check anything for repairs and have a maintenance schedule for those fixtures that need attention. There are certain standards that have to be met before renting out your property (especially for those who rent out rooms or boarding houses), to ensure that you will not be putting your tenants or your permits at risk. Regularly have your electrical equipment checked by trusted technicians, as well as your fire alarm’s batteries, if any.
- Business Is Business
Some landlords fail to see their rental business as a business; instead, some who rent out their space while being employed full-time see the former as a mere hobby. This results to slacking off in maintenance or asking for rental payments. However, as a business owner you constantly have to remind yourself that what is at stake in this venture is your hard-earned money. You have to organize, audit, and do inventories. Shifting perspectives on what a landlord needs to know will ensure you far greater success in your rental business.
- Know Your Boundaries
Make sure to keep a healthy distance once your tenants finally move in to your place. You may be tempted to drop by unannounced and this is certainly within your rights as a landlord, but limit it during business hours. In addition, give your tenants a few days’ notice before checking up on them. Do not be that creeper of a landlord who shows up at wee hours. This is not just intrusive, it is also a surefire way to annoy them. Remember that everyone values their privacy.
In addition to this, some renters may be a little too friendly toward you. This is perfectly okay as long as you know where to draw the line and you make sure they know where to draw theirs.
- A Little Compassion Will Not Hurt the Business
This may seem a bit contradicting to tip #4, but always know that even though you are running a business you are still dealing with people who encounter occasional hiccups. One of the responsibilities of a landlord is to sometimes heed your tenants’ suggestions and listen to their concerns. If they need your help on something, try to come up with solutions. If they have a good track record and they ask for an extension for their payment deadline, cut them some slack. They will owe you for it.
About Jumia House Zimbabwe
Jumia House is the best online property marketplace that offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online. For feedback or more information visit house.jumia.co.zw or follow us on Facebook, Twitter: @JumiaHouseZW or email to contact@zw.lamudi.com or call 04 740940 or 08080181 (Econet Toll Free)
