Ok, so last week we gave some great tips for being a better landlord in 2016, and while they may have seemed basic you would be surprised at how often people ignore some of this advice and end up with a catastrophe on their hands.
We taught you the importance of treating things like a business, not a hobby, of screening tenants before letting them in, and of focusing on being respected over being liked.
This week we are dishing out 3 more great tips for being a great landlord.
- Go the Extra Mile for Your Tennants
Ok, so we know we told you to focus on being liked and respected, but like Tony Stark said about fear and respect “Is it too much to ask for both?” If you are willing to go the extra mile for your tenants, fixing their issues as soon as they arise, and ensuring that they are living well, they will go the extra mile for you.
They will be more likely to get you their rent on time and take care of their property like it was their own if you treat them like they are family (and in a way they are)
- Incentivize on Time Payments
If you want a quick way to ensure that you get your rent money on time, find small ways to occasionally incentivize on time and early rent payments. Perhaps doing a drawing with everyone who paid rent early to receive a new TV, or tickets to a local sports game.
Things don’t have to be expensive, and if done right, you will have the whole apartment begging to pay rent.