If you’re thinking about purchasing a few condos or lofts in Little Italy San Diego, it’s important to know what you’re getting into before becoming a landlord. Being a landlord is a great way to make some extra money, but it also comes with certain responsibilities. You will need to treat your tenants professionally and courteously if you want to have a positive tenant/landlord relationship. Follow these tips to keep your tenants happy and ensure they take care of your home properly.
Always Give Notice Before Coming By
Keep in mind your rental property is also the tenants’ home for the duration of their lease. Even if you get along with them great, they may begin to feel uncomfortable if you are always stopping by the property. Give the tenant at least a 24-hour notice before you come over. Most tenants also prefer to be given a valid reason for the visit because it can be stressful to feel like the landlord is checking up on them.
Don’t Get Greedy
Of course it is nice to make money, but try to keep your rent increases to a minimum. In some circumstances, it’s better to have a good tenant who takes care of your house instead of getting an extra $50 each month. If you do need to raise the rent, give the tenants a reasonable cause for the raise, such as an increase in condo fees. They are more likely to treat you and your property with respect when they do not feel like you are trying to take advantage of them.
Knowing they can contact their landlord if they have any problems gives tenants a lot of peace of mind. Provide them with an up-to-date contact sheet that contains your phone number and email address, and respond as soon as you can if a tenant reaches out to you.
Fix Issues Promptly
To treat your tenants properly, you will need to uphold your responsibilities as a landlord. Most landlord responsibilities will consist of fixing problems on the property in a timely manner. Keep in mind this does not just mean doing maintenance inside the property when requested. If you are renting out Cortez Hill San Diego condos or another type of shared property, you may also need to speak with the community board or association about improvements or maintenance requested by the tenant.
Be Firm About Following the Rules
Many landlords want to be liked, so they avoid charging late fees for rent or calling the tenant’s attention to broken rules. However, this can often backfire because some tenants may begin to break the terms of their lease when they think the landlord is a pushover. Always remain polite and calm, but make sure to be very firm about rules. Send a notice as soon as rent is late or any rules are broken, and collect any fees you are owed.
If you’re in the market to purchase condos, lofts, or penthouses in Core San Diego with the intention of becoming a landlord, you’ll need the help of a professional real estate agent who knows the downtown San Diego area. Get in touch with 92101 Urban Living today, and we can help you find the properties you’re looking for. Call 619-649-0368 today to begin your search.