No one is perfect, but there are some landlord mistakes that can become costly and put you in legal jeopardy. Investing in professional property management in Phoenix, AZ can help you reduce the likelihood of having these errors happen. Whether you’re managing on your own or considering property management, make sure you are careful about what you’re doing and how you’re dealing with tenants.
Treat Your Tenants Professionally
One of the biggest mistakes you can make is to become personally involved with your tenants. You should not be their friends. Your relationship needs to be professional and businesslike. Anything else will put you in danger because your tenants will feel emboldened to get away with paying rent late, mistreating the property, or ignoring the lease terms. Be supportive and respectful, but don’t do anything you would not do for all your other tenants. Hold them accountable to the lease and make sure all of your policies and procedures are consistently followed.
Invest in an Attractive Property
A lot of landlords make mistakes while they are preparing their properties for the rental market. Instead of painting an entire room, they will try to touch up the paint in areas that it’s chipped, and that leaves the wall looking sloppy. You might want to avoid replacing the carpet because it takes a day and costs you money, but it might also make the difference in getting the house rented in one week versus two months. The best tenants will expect a home that looks like some effort went into it. Make sure your property attracts those tenants. You don’t have to upgrade all of your appliances or put in hardwood floors, but provide a property that is clean, modern, and functional.
Respecting Tenant Privacy
Tenants do not want a landlord who is always showing up, calling, and bothering them with questions. Don’t micromanage your tenants. Give them their privacy and don’t contact them unless it’s serious, like late rent payments or HOA violations. You can provide helpful information that’s non-invasive. Reminders to change air filters and check smoke detector batteries are great communication opportunities. Just remember that you want them to feel comfortable at the property.
Avoiding these mistakes will help you attract and keep good tenants while maintaining the condition of your property. If you have any questions about how to be a better landlord, contact HomeQwik.