Today, more than ever before a growing number of people are choosing to manage their own properties as a way to increase rental income and revenue. That said here are some useful ways of being a more effective property manager regardless of whether the property is residential or commercial. Keep in mind that being a landlord can be challenging so be prepared by bringing to the table a wealth of research and knowledge.
Renting To The Right Tenants
A competent property manager requires investing time, effort and money into being one that is truly successful. One of the most important aspects of getting property management right from the very beginning is always screening tenants thoroughly. Renting to the right tenants can save a lot of time and trouble down the road. Do a comprehensive credit and rental history check to ensure that you are choosing the best applicant. In addition it is important to have the correct kind of lease or rental agreement in place.
Important To Fulfill All Obligations
It goes without saying that having a written lease agreement for any rental property is an absolute necessity. Downloading the first free online copy of an agreement that you come across is not recommended. It is better to hire an experienced real estate lawyer who can then write up an agreement that will ultimately save you money in the future. The right type of lease agreement will clearly state all rights and responsibilities as they relate to both parties. As a landlord it is important to fulfill all obligations. This includes properly maintaining a property, and providing other routine maintenance as necessary such as keeping the lawn mowed and performing routine repairs and upkeep.
Gift Card To A Local Restaurant
Equally important is to reward your tenants when possible. Being overly strict and excessively overbearing can deter long-term a lease with good tenants. Tenants who consistently pay rent on time and who never have issues or problems should be rewarded occasionally as a way to show appreciation. Whether it is a gift card to a local restaurant or some other type of similar gift, a small investment in a gift of appreciation is well worth the investment. Finally, always carry full rental insurance on any rental real estate in Anacortes as a way to protect your property at all times. One lawsuit or some other type of event such as a fire can result in devastating losses for property owners. Contact Nicole Haun today to learn more about Anacortes property management and real estate ownership.
Contact Nicole Haun today by visiting Realestateinanacortes.com and filling out our simple online contact form. We offer access to a wide range of Bow WA multiple listings as well as homes for sale in Mount Vernon Washington and many other surrounding communities.
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