As a property owner, your goal is to see your rental houses bringing you the cash you invested in the property as well as earning profit. To maintain a steady return on investment, it is vital to keep your rental property rented, and properly maintained. One of the most common mistakes we see owner-landlords make is NOT setting clear expectations.
Even before the tenant puts his or her signature on the lease form, he or she needs to understand what you expect. You need to communicate the rules that govern the lease, what you expect from the tenant and what happens when the rules are not followed.
Let Them Know Their Financial Obligations
You need to communicate to the tenants what they owe you right from the start. Tenants are also humans, and they may experience problems every now and then. This means that some of them may not treat rent payment as a priority. Some tenants need to see a statement requesting for rent payment a few days before the month ends. This can be hectic if you have several different properties. This is one reason many property owners enlist the services of Real Property Management Phoenix Metro, to ensure rent is collected consistently, and without the hassle.
Get the Lease Right the First Time
The lease agreement is one of the most vital documents that will determine how the tenant will behave. If you have ever been to an eviction case, then you know that the contents of the lease agreement are the one that will determine the decision of the court. This means that you need to make your lease rock solid to cushion yourself from any future cases.
Keep Your Promises
If you promise your tenants that you will do something for them, make sure you follow on the promises and do what it is you promised. If you do not do so, you may communicate to them that you do not care about them and they will end up developing the same attitude towards you. It is understandable that you get too busy to handle every request immediately. This is another benefit of enlisting the services of professional property managers – we handle the tenant requests, questions, or complaints, so you that you have the time you need to focus on what is important to you.