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How to Be a Good Landlord: 5 Effective Tips

System - Tuesday, May 24, 2022
Property Management Blog

All American adults do not own homes, as many prefer the benefits of renting instead. As of 2019, 44.1 million households are being rented in the United States. 

Each of these rental homes has landlords that manage the properties, tenants, and finances. Understanding how to be a great landlord can make the renting process easier for all involved. 

Keep reading for tips on how to be a good landlord for your current or future tenants! 

1. Customize the Contract

Once you decide to rent your property, you'll need to create a leasing contract. This contract will be an agreement between you and the tenants that outlines any regulations you may have. 

You can get general contract templates online to give you an idea of the essential things to include. Always incorporate the price, rental duration, and deposit requests. 

After the general agreement is created, you must customize it with any additional requirements. You can include policies like eviction, pet allowances, tenant responsibilities, late fees, etc. 

2. Make Repairs Quickly

After becoming a landlord and renting out your first property, you'll be tasked with maintaining the rentals. Sometimes repairs are required to keep your tenants comfortable and happy. 

One of the best landlord qualities is urgency, meaning you make repairs quickly. These repairs can be crucial for some tenants as they may need their heater, air conditioner, toilet, etc., fixed. 

3. Communicate

One of the best landlord tips is to keep an open line of communication with your renters. They should be able to contact you with any concerns or emergencies. 

Communication can also help with problems your tenants are having. Listen to their needs and try to find a reasonable solution for them. This communication will gain their trust and establish a professional relationship. 

4. Respect Privacy

As a landlord, you can check on the property whenever you want. However, checking too often can make your tenants unhappy. 

Unannounced visits can also feel like an invasion of privacy for them. Out of respect, call beforehand to let your renters know you'll be stopping by. They will appreciate this gesture as their privacy is valued.  

5. Know the Laws 

Landlords have many responsibilities, and one of the most important is knowing the laws. In Idaho, each landlord must uphold specific laws for renting properties. 

It's your job to understand and obey these laws as you rent your property. Failure to follow these laws could get you in trouble if your tenant wants to pursue legal action.  

Tips on How to Be a Good Landlord

These tips will help you understand how to be a good landlord so that both you and your renters are satisfied. Your tenants will be grateful for a landlord they can trust. 

Don't forget to contact us today if you're looking for a rental property in the Idaho area. We will help with all of your rental needs here at HomeRiver Group!