Don’t be THAT landlord!!!
When you become a landlord one of the things that you must decide is if you will manage the property yourself or if you’ll hire a property management company. Whether you decide to self-manage or hire a manager, there is something really important that you should be aware of…tenants are “screening” you just as much as you are screening them!
Recently I came into contact with an owner that was looking for a tenant, but that was going to self-manage their property. I showed the property to my client s and they loved it! They thought it would be perfect for their family. However, after my communications with the owner regarding submitting the application and lease terms, as well as their initial encounter with the owner, they decided to lease another property instead. “Why?” You ask. One of the reasons was because the owners didn’t appear to know what they were doing or as if they even had a plan for the property and the routine management. This made my clients feel uncomfortable. It appeared that they would be more of a meddlesome and paranoid landlord, than someone that they could develop a good landlord-tenant relationship with.
Don’t be THAT landlord! If you find a tenant that has great rental history, credit and income AND that pays rent to you ON TIME, then let them be. Trust me…if a tenant needs you, they’ll call you! Remember that the home that you are leasing is no longer YOUR house (i.e., where you live). Take the personal out of it and know that it is now business! Taking that prospective is one of the things that will help you become a friendly landlord that people actually want to interact with.