#2 Starting Out Contributor
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4 Tips for Landlords - Which of these are you using and which are you going to use?
#2 Starting Out Contributor
- Specialist
- Mendham, NJ
A lot of landlords out there are missing the fact that the tenants are the caretakers of their investment. And to make them more invested as caretakers and not just feel like renters; these are five tips that can help. Which of these are you using now, and which will you use? Or which do you think doesn't make sense for you?
1. Online Rent Payment (please tell me you still don't collect rent in person). This is less possible in some C- to D neighborhoods, but C and up should all be on auto-pay, so the late fees get automatically deducted.
2. Exterior Upkeep. This is so undervalued. If your tenants come home to an ugly or dirty exterior every day, why would they keep the inside perfect? Just a little landscaping and cleaning goes a long way.
3. Laundry Timeslots. If you have laundry, you want to reduce the amount of laundry fights your tenants have. Setting a schedule for who does laundry on which days makes everyone's lives easier. Yes, they don't always listen, but if you have it set, it's easier to reduce the "they put my laundry on top of the dryer" moments like in college.
4. Parking and Backyard Splits. If there are two parking spaces, they should be labeled so each tenant has a dedicated space. You would be surprised at how many calls this will save. Same for backyard - even if it's small, cutting it in half with a fence makes it easier for both to enjoy a holiday barbecue in their own space.
These are low-cost options that will help create a better relationship with tenants. What's your take?
