With the new year right around the corner, you may be thinking about all the resolutions you will make to become a better person in 2017. But, how many of those goals are related to your Plano property management company? While many resolutions are broken within the first two months of the year, here are some simple ideas to improve yourself as a landlord in 2017.
Gain a Better Understanding of the Leasing Process
Whether you print a generic lease you found on the internet or have one drawn up by a lawyer, using a written lease that is signed by both parties will protect you in the event of landlord-tenant disputes. Being able to explain all clauses and policies to your potential tenant will make you seem more trustworthy as their landlord.
Build an Emergency Fund for Each Property in my Portfolio
As a leading Plano property management company, we recommend saving 1-2 months rent in case of emergencies. These emergencies can include unexpected maintenance and repairs, tenant evictions, and extended vacancy periods.
Rather than needing to go to the bank ten times a month to deposit rent checks, consider accepting online payments. Instead of sorting through tenant applications on your own time, hire a professional property manager to help.
Respond to Maintenance Requests in a Timely Manner
Your tenants will appreciate a prompt response to maintenance needs. By being proactive about maintenance and repairs, you will save yourself time, money, and headache. When tenants see you putting effort into maintaining the residence, they are more likely to do the same for your property.
Collect Security Deposits Before Lease Signing
Collecting a deposit is much simpler if done before the tenant occupies the property. Simply stating that to take the home off the market you need a deposit will ensure that both parties are invested in the care of the home.
Regularly Check on Tenants
This builds a relationship with tenants so that you can ensure the lines of communication are kept open and that the tenants are complying to the lease policies.
Following these simple resolutions will help you be a better landlord in 2017. And, when you are looking for a professional Plano property management company, you can trust Specialized Property Management to give you a hassle-free rental experience with integrity. Learn more about our comprehensive list of services at www.specializeddallas.com