Rentals

How can I be a good landlord?

Being a good landlord is more common sense and courtesy. It doesn’t mean you have to bend over backwards for your property manager or tenant, but it does mean that you put aside the time to communicate with either one. It involves problem solving and punctuality. It’s thinking about how your tenant is living and if they are comfortable.

There is nothing more frustrated when you’re living in a dysfunctional property. This doesn’t work that doesn’t work, it’s not nice to go day by day paying someone who neglects to help. Being a good landlord will not only keep your tenant and property manager happy, it will also keep you from visiting the VCAT to sort out disputes.

It will also save you money. If you are notified about a problem with your property, by getting on top of the issue immediately, not only will you have a satisfied tenant, but you may have stopped an issue in its tracks before it blew up to be major. Owning an investment property isn’t cheap and maintenance work can creep up the bills but letting something progress to a major problem can cost more than its worth.

Also, by keeping on top of issues as they arise will keep your tenant happy and respecting you as a landlord. In many cases, if a tenant is looked after so well, they will look after your investment property as if it were their own. Not only will this save you maintenance and repair costs, you will also receive praise and gratitude from your tenant which can be more rewarding.

Doing the right thing is just doing the right thing. Make sure you keep yourself accessible to your property manager and tenant, you keep on top of maintenance and repair issues as they arise, and you use a little common courtesy. It will take you a long way and you’ll be better for it.

 

DISCLAIMER

The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.

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