Be a successful landlord is never easy. It is not just collecting rent every month with the tenants and you still have a responsibility to them. If you want your tenant pay rent on time, they have some expectation of you as well.
Before you want to be a landlord or you are new landlord, you must read on the responsibilities a landlord has to their tenants.
1. Responsibility to Maintain a Safe Environment
A tenant expects their home to be safe. As a landlord, you are responsible for providing your tenants with a secure place to reside. Your tenants should feel safe inside of their apartment. This means you should ensure all doors and windows are properly secured and have appropriate working locks. You should always change the locks once a prior tenant moves out and before a new one moves in. If you are going to give keys to Realtors to show your vacancies, make sure to use a generic lock and then replace the lock prior to your tenant moving in.
No one want to live in the place that lack of security. Make sure you have checked all the door and window locks before pass the key to the tenants. Besides, you will need to check on every potential tenant criminal history as well. It is to protect your own property your own asset.
2. Maintain a Quiet Environment
A tenant expects their home to be quiet. Again, when screening tenants, you should look for those you believe will be respectful of others. You should also have a strict quiet hours policy in your property that all tenants must consent to.
You may set a rules into the agreement which no loud noises, music after 11pm.
3. Responsibility to Maintain a Clean Environment
A tenant expects their home to be clean. While you are not responsible for washing a tenant’s dishes or picking their clothes up off the floor, as a landlord, you do have certain responsibilities to maintain the property as a whole. You need to make sure trash is taken out, either by yourself or through an agreement with a tenant or superintendent.You need to make sure common areas are well cared for; that they are free from garbage, mopped or vacuumed on a set schedule and have working light bulbs.
Yes, you will be like your tenant’s mother. Remind them to throw the rubbish to keep the property clean.
4. Respond to Repair Requests Promptly
A tenant pays you rent to reside in your property. It is your duty to them to respond to requests for repairs in a reasonable amount of time. The severity of the repair should warrant how quickly you should respond. Lack of heat in the winter is a repair that requires immediate attention, both for the safety of the tenant and for the benefit of your property. The lack of heat may cause your water pipes to freeze, and that could lead to thousands of dollars in repair costs.
If you receive complaints from your tenants, you should settle it immediately as well as repair the faulty.
5. Landlords Should Advise All Tenants to Purchase Renters Insurance
Many tenants do not know they are not covered under your insurance policy. You should advise all tenants to purchase renters insurance so their possessions are protected in the event of a fire, flood or other disaster. Renters insurance can also help protect their liability for an accident a guest may have inside of their apartment. Renters insurance can be purchased for as little as $10 a month.
Believe that you have purchase the property insurance to protect your asset. You may set the rules in the agreement that every tenants should pay the renters insurance to protect in the event of any accident.
So, being a landlord, you will need to communicate well with your tenant to avoid any unhappy problem happened.
If you want to learn more about property investment, click the following link: PropertySeminar.com.my
How to use creative strategy to own a property in Malaysia? Click the following link to learn more: PropertyMillionaireIntensive.com