There is a good chance that you have had a few experiences with landlords before you became one yourself. And, unfortunately, many of them might not have been the greatest. Now that it is your turn, you want to make sure that you are good and fair in your endeavors. In case you are curious about how to make this happen, here are the guidelines to follow:
Keep the Rules the Same for Everyone
Now, as a landlord, there are some standards that you just have to keep. This includes running credit checks and doing background checks. Nevertheless, it is important to maintain these standards for each and every person that is applying for your rental property. You should never discriminate.
You should also try to be fair in other ways. For instance, you may want to figure out what is a criminal record? that you can handle? After all, not all crimes are the same. Furthermore, for some people, the odds are stacked against them. As such, know when to give individuals the benefit of the doubt.
Create a Reasonable Contract
A contract is a great way to protect your investment, while also letting your potential tenants the lay of the land. When creating your contract, though, make sure that it is reasonable. In addition to protecting your interests, think about what you would like to see in a contract as a tenant.
When in doubt about creating the right balance, reach out to a law firm such as MassTsang LLP for advice. As they have experience in everything from drug charges to criminal defense, they will be able to let you know if you are on the right track. If you need to add or remove any wording, they can advise you on the right moves.
Construct a Good Relationship
It is important that you start off on the right foot. Therefore, make sure that you are making an appropriate effort with marketing, meeting with, and screening your tenants. This way, everyone starts off on a cordial note, making it easier to continue a good relationship.
Remember, you are responsible for setting the right tone. Therefore, remain firm but friendly at all times. At the same time, don’t be afraid to care about your tenants as well, as long as they follow the rules set out for them. Most people will appreciate when you go the extra mile.
Maintain Good Communication
Last, but certainly not least, communicate with your tenants properly and make sure that they know they should contact you as needed too. Make it easy for this communication to take place – text message, email, etc. Just make sure that everyone follows the appropriate office hours. Keep them updated on any changes that are occurring and encourage them to speak with you if there is anything wrong with the property.
These are the top guidelines that you should follow if you wish to be a good and fair landlord for your tenants. With a little bit of thought and effort, you are sure to get it right for everyone involved.