Did you know that over 10% of the American population moves every year?
If you’re running one or more apartment complexes, it’s important to make sure that tenants stay as long as possible. After all, a full property means a full wallet.
This is why the role of a landlord is so crucial. How they act and run a place can determine whether a business thrives or fails.
Are you wondering what qualities you need? Keep reading to learn all about how to be a good landlord.
1. Encourage Constructive Criticism
When it comes to outstanding landlord qualities, you must learn how to take constructive criticism. Everyone has room to grow. If you become jaded with time and get stuck in your ways, your tenants will be able to pick up on that.
In fact, they may not even give feedback or submit complaints if they see that nothing changes after the first few tries. At that point, you can expect to receive scathing reviews online, which will only help to keep your property emptier and emptier.
This is why the best landlord is one who will adapt to various situations and change their behavior for the better. Not only should you be willing to listen to constructive criticism, but you should also solicit it. Your tenants will know they’re being heard and cared for if you check in with them every month or so, asking about their opinions and overall satisfaction.
2. Be Timely
If you’re thinking about becoming a landlord, you can’t forget about your tenants, even if you have a hundred or more of them. With this in mind, you should always stay on top of problems that have been submitted.
Whether it’s a leaky pipe beneath the sink or a problem with the living room light fixture, tenants shouldn’t have to wait days or longer for the issues to be addressed. While it makes sense to tackle problems in order of importance, timeliness is key.
Just because a faulty light fixture is not as time-sensitive as water damage doesn’t mean it isn’t an inconvenience to the tenant. Keeping everything in working order and addressing problems quickly will keep your tenants put for a much longer time.
The last thing you want is a revolving door of new tenants. Not only does that result in more paperwork, but it also eats into your profits when you have empty apartments even for just a month.
3. Give Tenants Space
Being respectful of your tenants’ space is one of the most important landlord traits. This is especially true if you live among your tenants. You may feel like you have to micromanage them and keep an eye on what everyone’s doing, but that can backfire on you.
Tenants are going to be more and more uncomfortable if they feel like you’re watching them all the time or getting caught up in their business. Of course, if a certain tenant is being too loud and disturbing others, then that’s a good time for you to step in.
Overall, it’s a good rule of thumb to avoid being overbearing and nosy.
4. Be Available
Out of all the great landlord characteristics, being available to your tenants should be a priority. When there’s an issue, they have no one else to go to but you. Not only should you have office hours, but you should also be diligent about answering emails and phone calls.
Even if you’re out of the office for half an hour, for instance, you should leave a note on the door telling your tenants when you plan on being back.
The last thing you should do is give the impression that they’re not a priority now that they’ve signed the lease papers. If you make tenants feel this way, chances are they won’t be your tenants for long.
5. Stay Professional
As you strive to be the best landlord you can be, you can’t forget to remain professional in every way. This starts with how you dress. A landlord should never wear anything that’s less than business casual.
A t-shirt and shorts are out of the question, but you can certainly wear a short-sleeve button-up if it has a collar. There are also plenty of comfortable yet professional slacks you can choose from.
Aside from how you dress, it’s just as crucial to act in a professional manner too. Your language should always be kind and courteous. Even if you’re frustrated with something, you shouldn’t let your tenants overhear you as you vent on the phone, for instance.
You should also make sure that boundaries between a landlord and a tenant are never crossed. This is because there may be a situation in which a tenant must be evicted or even brought to court. Having a friendship or even an amorous relationship can make proceedings very difficult for you and the business as a whole.
6. Go the Extra Mile
Plenty of people who become your tenants will be unfamiliar with their surroundings. You can go the extra mile by letting them know about your favorite restaurants and more.
It can also be helpful if you provide them with a map that lists places of necessity and entertainment, such as grocery stores and movie theaters.
The more comfortable they feel, the longer they’ll stay.
Now You Know How to Be a Good Landlord
Now that you’ve learned about how to be a good landlord, you can exemplify all the best qualities. When you make others a priority, they’ll appreciate what you do for them. That way, your tenants will be sure to stay in their apartments for years to come.
Properties can be difficult to manage well. That’s why we’re dedicated to making the process simple and efficient. We provide leasing and management services in Delaware, as well as tenant screening and rent accounting in all 50 states across the country.
Do you have questions or comments about our highly-rated services? If so, please don’t hesitate to contact us and we’ll get back to you as soon as possible.
