In today’s market, it’s easy to be a landlord but hard to be a great one. If you’re just getting started in the business, you might have some preconceived notions about what it means to be a property manager. In order to turn your rental property into a money-making asset, you need to understand what being a great landlord involves. This includes the daily realities of the job and the complex situations you’ll be thrown into every day. The role can be highly rewarding, but it takes practice and plenty of patience. Below, you’ll find some ways to navigate your expectations and your new reality as a landlord.
Being a Great Landlord: Expectations vs. Reality
Managing Expectations
If you’ve been a landlord for a while, it’s safe to say you probably had different expectations when you began. Maybe you expected to make a lot of money fast, but that didn’t come to pass. The truth is, being a great landlord takes time and effort. Some things you can do to put your best foot forward include:
- Helping new tenants move in
- Making sure each unit is tidy prior to move-in
- Stay calm when disputes arise
- Always be professional
- Help every tenant understand their lease
- Respond to tenant calls/requests ASAP
- Offer convenient online payment options
- Consider writing a welcome letter
The Reality
As a landlord, you’ll have to handle tenant screening, neighbor disputes, maintenance, marketing and other spur-of-the-moment issues. If you want every day to be the same, managing a property may not be the career for you. The challenges landlords face are never-ending, and they are not always easy to resolve. Many new landlords don’t often realize just how many tasks they’ll be responsible for. You may find it helpful to partner with a respected property management company. To be a great landlord, you have to know when to seek out assistance.
At All County Denver Metro, we take care of marketing, placing responsible tenants, lease execution, rent collection, evictions, maintenance and more. Landlords like to work with us because we maximize their property revenue, monitor their income and help them avoid costly errors. The realities of property ownership can be tough, but with the right people on your side, you can’t go wrong. A career as a landlord can be extremely fulfilling, and with a little guidance, you’ll succeed.
How All County Denver Metro Can Help
At All County Denver Metro, we understand that being a great landlord isn’t always easy. Luckily, when it comes to resolving challenges for landlords, we’re experts. All County Denver Metro Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or more information about being a great landlord, call us today at (720) 575-6100.