If you are interested in earning a living outside the constraints of a Monday through Friday schedule, becoming a landlord may be a good fit for you. It is important to keep in mind, however, that there is much more to being a landlord than collecting a check every month. Read on for some essential steps you will need to take in order to be a good landlord.
Perform Regular Building Maintenance
As a landlord, you will be responsible for ensuring that your tenants have a clean, safe, pleasant place to live. This means that, if your building has an elevator, you will need to have an elevator company MD perform regular inspections. You will also need to have the HVAC system serviced on a regular basis, fix any leaks, hire an exterminator in the event of a rodent infestation and more.
Building-related emergencies can arise at any time, so your tenants should have a way to reach you and be able to expect a prompt response. Based on your personal habits and preferences, you can decide whether you want to give out your cell phone number, email address or some other means of contact. You can even set up a Google Voice number in order to maintain a separation between personal and tenant calls. Whatever you decide, make sure that you check your messages regularly.
Offer a Warm Welcome
First impressions are important. When your tenant first moves in, make sure to stop by and introduce yourself. If you are not able to be there in person within the first few weeks of a new tenant’s arrival, consider leaving a welcome letter and a small gift basket. A bottle of wine and some snacks will go a long way towards starting a good relationship.
Becoming a great landlord takes some practice, but as long as you start out with a good attitude, everything that you need to learn should come easily. Good luck with your new venture!