Friday, February 6, 2015

Excellent Landlord Tips with with Team Thayer Key Realty Group Inc.

Being a landlord is not as simple as it appears. You should understand the responsibilities and repercussions before foraying in this segment. Here are quick tips that will help you avoid adverse situations and be a successful landlord.
be a successful landlord.

Screen tenants

Be smart, strategic but not too swift when screening tenants and checking their credit rating and references

Be professional with a personal touch

Tenants appreciate staying in direct touch with the landlord; so always provide for a direct hot line to them

Plan your moves logically

Stay abreast of the local eviction rules so that you can invoke them at the strategic moment

Stress on tenant care

Online managing agents should be enquired about tenant care level; else you may have to suffer from double financial setback once the tenant leaves i.e. paying agents for getting new tenants and losing income meanwhile

Prepare for the unforeseen

Unexpected expenses can crop up; get ready to deal with them by maintaining a reserve account or obtaining credit line

Maintain a checklist

You can see your business flourish and the investment paying off only when you adhere to the basics by maintaining a checklist

Place emphasis on security

The locality may be seemingly safe, but provide for additional security with reinforced locking mechanism and superb night illumination

Update your knowledge base

Learn from the experience of other landlords; participate in online forums constituted by landlord communities or take relevant lessons

Face the problems with stride

Take problems as an opportunity to understand mistakes and take better decisions in future