Rental Property Management Tips for New Landlords

Property management is a serious business that requires a serious approach. Make sure you have all regulations, procedures and paperwork in place before you put your property on the market.

Bay Management Group is here today to help you avoid a few embarrassing situations that may occur if you are new to property management.

4 Simple Rules to Avoid Repelling Tenants and Damaging Your Credibility as a Landlord

1. Always send a notice to tenants before visiting

Sometimes, you or someone else, such as a building inspector or a plumber, will need to visit the property to fix a leaky pipe, conduct a scheduled assessment or for some other reason.

The last thing you want is to walk in on your tenants sleeping, lounging in their underwear or simply going about their day not knowing you would come. Showing up unannounced or worse – letting yourself in without a prior notice – is an invasion of your tenants’ privacy.

Notify your tenants at least 48 hours before the scheduled visit. If you are sending a note in a mail or email, follow it up with a call to make sure tenants received it.

2. Double check everything

If you are relying on someone to do a certain job for you, check yourself to make sure the assignment was complete:

  • Visit the property before showing it to a prospective tenant to make sure it’s vacant.
  • Read notices and other documentation sent to tenants to make sure it’s accurate and free of errors and typos.
  • Visit the property before showing it to a prospective tenant to make sure it has been cleaned, repainted, repaired and is in its best condition.

3. Thoroughly screen your tenants

This is especially important if you own a multi-family dwelling where two or more residents will be living in close proximity to each other.  A nice place to live is what most renters are looking for, but a bad neighbor can be a deal breaker. If you want to avoid receiving annoyed complaints, be picky about who you are renting to.

4. Step up your game

Not messing up is only a part of being a successful property manager. Another part is providing better services than your competitors. Start by dressing nicely for the tenant meetings and learning their names. Build good relationships with your tenants by being accessible, polite and doing small favors, such as sending out Christmas cards or fixing that leak in a timely manner. Satisfied tenants will be more inclined to recommend you and can even help you find new renters after they move out.

Follow these steps to become a better landlord and if you decide you need professional property management in Philadelphia, PA, contact us today and we’ll take care of everything. Our team knows how to turn your property into a continuous source of income.