What kind of landlord are you?
Those of you that know me have heard me say this time after time that being a landlord doesn’t mean just collecting the rent once a month but it takes work and effort.
Can you pass this 5 question test with an affirmative YES?
1. DO YOU HAVE A WRITTEN LEASE? A written lease is CRITICAL; I cannot stress this enough. A written lease protects you and your tenants and prevents potential misunderstandings from becoming nightmares.
2. DO YOU KNOW THE LANDLORD -TENANT LAWS OF NEBRASKA or your own State?Take the time to read and understand the laws as they pertain to you. This knowledge will keep you out of trouble. Here is the link: http://www.thelpa.com/lpa/landlord-tenant-law/nebraska-landlord-tenant-law.html
3. ARE YOU FRIENDLY BUT FAIR & FIRM LANDLORD? How do you treat your customers (tenants)? Do you treat them all the same or some differently? Is it important to treat everyone the same because there are laws against discrimination. Do your customers know what your expectations are?
4. ARE YOU A VISIBLE LANDLORD?Being visible with tenants and the neighbors is a huge plus. Having properties within a geographical area i.e., (Dundee, Benson, north, south east, west etc., makes this a very manageable task .More importantly always inspect what you suspect, drive by them. Why is this important? Because it lets your tenants know you care about the property. Being visible also helps to build relationships with neighbors, which can be a great set of eyes and ears to tip you off about any potential problems before they get out of control.
5. NEVER FORGET THAT YOU AND YOUR FAMILY COME FIRST. I have seen many landlords that have been well trained by their tenants and accept all the reasons and excuses why their rent can’t be paid on time this month etc( some are legitimate but most are excuses). Has this happened to you? This is probably one of the hardest lessons a landlord must learn. First, ask yourself why you did or are you in the rental business.
These simple steps will go a long way towards helping you prosper and accomplish your objective as a Landlord.
Lot’s to think about.
Feel free to call me for a no obligation consultation and you will be happy that yout did. Fred 402-679-3914
?Check out my web site for additional information. http://fredtichauer.com