Property Management – How to Be a Good Landlord

By Jenn Walker

Securing your first rental property can be a thrilling experience, but once your name is on the building, the true work of being a landlord begins. If you’ve never been a landlord before, the responsibilities that come with the role might be overwhelming at first, and you might not be sure of what it means to be a good landlord in the first place. There’s no need to panic, however, as many landlords before you have been in the same situation and effectively grown into the role.

There’s hardly one definitive formula for becoming a good landlord. Still, there are many things you can do to build confidence and develop your skills so every future tenant can feel comfortable living in your property. We’ll go over some of the most essential tips and tricks so you can welcome more tenants and protect your real estate investment.

Help Your Tenant Get Adjusted to the Area

Most tenants you’ll encounter will likely be new to the area, and they may have some anxiety about getting familiar with the area on their own. To make a good first impression, provide your new tenants with directions to essential locations such as grocery stores, pharmacies, and gas stations, so they don’t have to feel lost searching on their own. Moving into a new rental property can be very stressful, so your tenants will also likely appreciate suggestions for local entertainment, such as movie theaters and restaurants.

The more you tell your tenants about the area, the more comfortable they’ll be as they move in, and giving them all the information they need to get around will show them that you care about their well-being.

Review the Lease with Your Tenant

One of the most important things you can do as a landlord is remaining communicative at all times. This is especially important when it comes to the lease on your property, as there are likely many rights and responsibilities you will want to make clear to your tenants.

Before potential tenants even sign the lease, take the time to review all of its guidelines with them to avoid any potential misunderstandings. This will save both of you from any headaches and ensure there are no secrets at the beginning of your landlord-tenant relationship.

Be Consistent and Accessible

Once you have tenants in your building, the best way to keep them satisfied is by being consistent and staying as available as you can to address their needs. This consistency can mean any number of things, whether it’s regularly collecting rent online or maintaining one line of communication where you can be reached at all times. Nobody likes surprises when it comes to their living situation, and your tenants will appreciate the stability you provide in their life.

In terms of accessibility, tenants will appreciate your ability to address their needs as quickly as possible. Remember, you are responsible for the state of the property, so if any repairs are needed, it’s your job to have them taken care of. The faster you can resolve your tenants’ issues, the more satisfied they will be, and the more they’ll see you as an attentive and caring landlord.

Refer Local Utility Services

In addition to showing your new tenants around the neighborhood, another way to demonstrate your dedication as a landlord is to refer your tenants to local utility services and other businesses that can help them with issues that fall out of the realm of your responsibilities. This can include anything from housekeeping and carpet cleaning companies, to catering and junk removal. Philadelphia and other large cities can have many companies like this, but you’ll be able to direct your tenants to the ones that provide the best possible service.

Remain Calm and Patient

The renting process is hardly perfect with every tenant, so to keep from tearing your hair out, it’s important to remain as patient as possible with the people that call your property home. If a tenant has just moved in and their first rent payment is a few days late, for example, calmly contact them and ask when they will get the money in. They’re likely still getting into a new routine living in their new space, and a gentle reminder can go a long way in building a healthy landlord-tenant relationship.

The same patience should also apply to any issues with your property itself. If a pipe has burst or you find general deterioration, take the necessary steps to resolve it quickly without panicking. This will save you stress and ensure your tenants that everything is okay in the building. Not every issue is a reflection of you as a landlord, but how you react in stressful situations is.

About the Author

Jenn Walker is a freelance writer, blogger, dog-enthusiast, and avid beachgoer operating out of Southern New Jersey.