The Law of Attraction says like attracts like. Just as a landlord is looking for a good tenant, a good tenant also looks for a good landlord. A good landlord attracts quality and loyal tenants. If you want to be a hands-off landlord in the future, you need to be a good landlord now first!
1. Treat your tenants as your customer.
Have you ever thought of your tenant as your customer who pays you at least several thousand dollars a year? Indeed, he is your big customer. The success of your rental business depends on him. So respect your tenant and provide the best service to him. Remember it is your good service that sets you apart from your competitors.
2. Take good care of your property.
If you want your tenant to be clean and respect your property, you need to take good care of it first. Otherwise, how can you expect your tenant to do the same? Encourage your tenant to report any maintenance issues on a timely manner. For example, water leaking, clogged bathtub drain, etc. Do not think your tenant bothers you. He actually helps you prevent possible bigger damages.
3. Be a good listener, reasonable and flexible.
Like any relationship, even if it is a good one, still there may be some issues coming up down the road. You need to be a good listener to find out the cause of the issue and try to understand it from the tenant’s perspective. You need to be diplomatic and willing to negotiate for a win-win solution.
4. Be legal, firm and fair.
You need to be very familiar with your local landlord and tenant law. Use the law as your operation guideline. Should there be a conflict between your in-house rules and the law, go by the law. Although not every tenant knows about the law and his rights, do not try to fool him for your own advantages. For example, if the law says the tenant needs to provide 60 days notice before he terminates the lease, you cannot charge him penalty if he did so. Following the law, being firm and fair will make your life easier and prevent many disputes from happening. However, the landlord and tenant law does not cover every scenario that may happen in a lease term. Remember to use the rule #3 to handle those ones.
5. Reward good tenants.
There are many ways to reward your good tenants to show your appreciation of their business. For example, rental discount, birthday gift, coupon, just to name a few. Rewarding your tenant works like magic lubricant to a long-term good relationship between you and your tenant. It is this relationship that keeps your tenant loyal. With this relationship, you can rest assure that your property is in good hands.
Click here for source of article written by Mary Wang.
These same principals apply when selling. If you want a good buyer, you need to be a good seller. That means putting in the effort upfront to ensure your home is clean, inviting with furniture, nothing is broken or missing that shouldn’t be, any renovations that are completed are of good quality and ensuring the photos show truth to what you are selling and that the price portrays value for money too. Good buyers do their research and can not be fooled!