People in the property business should realise that their tenants are the most important people they deal with, as they are their customers. Looking after tenants correctly determines the cash flow landlords generate from their properties.
Failure to manage tenants correctly will most likely result in the landlord losing money, so it’s vital to remember some essential rules to ensure tenants are paying full market rent every time.
My top five tips for landlords are:
1. Show your tenants that you are a professional landlord: This seems obvious but tenants fear the ‘landlord from hell’. Don’t fall into this category by not addressing property problems immediately, or raising rents without adequate notice. There is nothing better to demonstrate that you are a serious and well organised landlord than providing new tenants with a welcome pack. This will show you have nothing to hide and will contain essential information about the property, plus a question and answer section.
