How Your Property Attracts Tenants
How you prepare when you rent out your place defines what kind of tenants will come your way. If you offer respect and a healthy, profitable relationship, it is what you will get. And if you prepare a war zone by glossing over any flaws in the house, if you don’t pay attention to detail, enforcing rules unfairly, not keeping promises, and fighting to get your way, you can expect the same treatment!
Look for a Profitable Relationship, Not a Competition!
Renting out your income property is a two-way street. When you provide your prospective tenants a well-maintained place to live, and show that you are ready and willing to play the role of Responsible Landlord, you will almost certainly find tenants who will appreciate this approach and pay you back in kind.
You may have heard many horror stories about terrifying tenants who crashed a place and made the lives of the landlords miserable. But the truth is that tenants are more likely lose respect for you and your property – and even lose their temper – when they think they are being treated like a commodity instead of a human being. Remember that you are not in a competition with your tenant—you don’t need to act aggressively to show them who is the “the boss.” Communicating any issues with your tenant politely (yet firmly, when needed) will get you better results than if you treat them like an easily-replaced body.
Keep Up Your End of the Deal
As a landlord, you are responsible for addressing habitability and safety issues within specific time frames detailed in Nevada law. If you delay in playing your role, your tenant will retaliate in their own way. Not to mention that they may be legally able to withhold rent to make up for alleged negligence. For instance, if you do not provide essential services like heat, they can withhold rent till you restore the service. Why waste your energy in creating an unhealthy relationship when you can enjoy peace of mind by upholding your end of the deal?
Have Your Roles in Black and White
Before you sign the agreement, discuss your roles and responsibilities clearly. This way, both parties will be on the same page. And when you sign the agreement, make sure that it includes each of your roles and responsibilities as tenant and landlord in black and white. Give a copy of the agreement to the tenant. Abide by your role, and more often than not, your tenant will stick to their role.
Communicate, Don’t Command
Let’s say a resident ruins one of the cabinets. How do you react?
If your answer lies anywhere between “I will make them pay for this!” or “I will give them a piece of my mind,” RED FLAG! You’re on the wrong track.
There is a way to handle this situation fairly but firmly, without wrecking the rest of the relationship. Using that approach, the tenant will be more likely to take responsibility, and you are more likely to be made whole for this damage.
Maintaining a healthy relationship with your tenants will give you the peace of mind you want and gravitate the right tenants to your home. If you have any queries about the renting process, or are looking for a reliable property management company, contact us today and our experts will get back to you.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.