Treat your Tenants Right: Simple Tips for Property Owners
Whether you’re going to manage the property yourself or not, taking care of your tenants is always important. A month or two of vacancy is not good for business as the asset will cost you money on top of its unprofitability. Here are some tips on how you should handle your tenants as the lifeblood of your business.
Instead of taking your approved tenant to a restaurant or place elsewhere, you might as well bring them to the house. This is you not being a cheap individual, but a practical one, as this strategy significantly saves time. Not only will you be able to have him sign the contract, but you can orient him with his new home as well. It’s like hitting two birds with one stone. You can take pictures of the house in his presence so both of you can agree on the exact current condition of the house. Should any damage arise in the future, there’d be no fingers pointing at each other for there’s a contract, and there are pictures. You think it’s too much of a paranoid move? You never really know until something happens, and then you’re going to go, “Oh, I should have been more careful. I should have taken pictures!” I’m just saying.
If you have built-in amenities inside the house, keep track of their model and serial numbers and several other definitions that are comfortable for you to remember. These amenities include appliances, heaters, faucets etc. just so you won’t have to dig into your sea of papers to see the model of a damaged appliance. Moreover, in order to significantly reduce the time you’ll be hassled by tenants’ calls for maintenance issues at an ungodly hour, leave them tools and spares. This includes bulbs, fire extinguishers, air filter replacement, toilet plungers and a box of tools. You can include paint as well if you wish. They won’t necessarily call you at 2 am to paint but giving them paint themselves can also reduce time. Time is more than gold. Every second of it counts.
I also want to point the need for durable facilities such as toilet. With the help of a reliable facility, you’ll get to spend the extra time doing something more productive than fixing a clogged toilet. It will also prove itself to be beneficial in the long run as it saves water bill and repair expenditures. If it doesn’t hurt your pocket, run a pest control once or twice a year. This will not have a strong initial effect, but it will be advantageous in years or decades as it prevent pests from eating the walls.
No matter who you are or what property you’re handling, it’s important that you handle your tenants’ concerns as soon as possible, a less than 24-hour turnaround if possible. Your promptness and reliability will encourage them to rent your property for a year or two more, which is a good thing. Instead of working your ass off in starting from scratch as you find a new tenant, save yourself from the hassle and treat your existing tenant properly.
