Managing property can be a bit of a juggling act and involves many moving parts. As a result, it’s vital to get help wherever you can to make life easier for everyone involved. So, if you’re looking to improve as a landlord, consider these tips that could help your business blossom.
- Do some groundwork before you rent to someone. This involves a little bit of due diligence on your part - screen prospective tenants. You should make sure they have a decent credit history, or else they will be much more likely to end in problems such as late or partial payments.
- Use the law to your advantage. Make sure you document everything with your tenants, from a written lease to repair and complaint notices. The more evidence that you have, the easier it will be to ensure the right outcome with any tenant disputes.
- If your building has any hazardous materials, such as lead paint or mould, disclose this information as openly