Every landlord should know and understand Landlord-Tenant laws in his own area. Once you know the laws, your fear of renters or of being intimidated will vanish. An overwhelming number of owners incorrectly assume these laws favor deadbeat tenants. I can assure you this is not the case, although sometimes it appears that way! Laws are mostly about equity. It’s well to remember – there are unscrupulous landlords as well as bad tenants.
If you rent houses, you should think of yourself as a business person! Business people provide a product or service for money! You provide houses for rent – it’s basically the same. The point I wish to emphasize here is this: If you’ll provide top grade service to your customers, you’ll stay in business a long time. Also, you’ll beat the socks off your competition.
What will set you apart from other landlords is how well you handle repairs. Tenants will, always gripe about high rents. You can’t change that no matter what. However, when they get top-flight service for their money they will accept it better. As a result, they’ll remain your customer much longer which, of course, is what all owners want.
Many part-time landlords get themselves into serious difficulties by “sluffing off” on repair calls. Here’s a typical “sluff off’ conversation : “Yes, Mr. Renter, I know it’s only Wednesday, but If you’ll just be patient and hold off using the toilet till Saturday, that’s my day off, you know!” You should ask yourself this question; If you were the renter, would you accept that answer? I rather doubt it… and neither will anyone else.
Leave a Reply
You must be logged in to post a comment.