Tips for becoming a better landlord

How to Manage Collections and Delinquency as a Landlord

Are you frustrated with owning rental properties and are searching for ways to become a better landlord? If so, you’ve come to the right place!

In this article we will share with you real tips that you can use for becoming a better landlord.

Tip #1 – Stay Organized

Most people who own investment properties treat their rentals like a hobby and that mindset often leads to lack of organization and failure. If you stay organized, you will have more control over your real estate investments and ultimately offer better service to your tenants.

Tip #2 – Understand The Laws

Let’s face it, the laws in California are changing, especially landlord-tenant laws, and this means that you have to stay on top of those changes or risk putting your financial interests in a hazardous position. To avoid problems with the law it’s best to stay on top of local laws, including upcoming changes, so that you don’t put yourself in a dangerous legal position.

Tip #3 – Always Be Firm, But Fair

As a landlord, you can’t let your tenants walk all over you because if you give a little they are going to keep asking for more. Always be firm with your tenants, but fair and your business will improve.

Tip #4 – Follow Through With Your Promises

IF you promise your tenant that you’re going to fix something by Friday and you don’t show up, this will ultimately lead to them not respecting you. Instead of having to deal with a lack of respect, focus on following through and doing the things that you promise your tenants because this will lead to them respecting you more, paying their rent on time and not causing problems.

Tip #5 – Hire A Property Manager

As your portfolio of investment properties grows it’s best to hire a property manager so that you can out source the management of your rentals because a property management company like RPM Central Valley will save you the time, money and hassle of having to manage your investments yourself.

Contact RPM Central Valley

To learn more about the property management services we can offer you contact us today by calling (209) 572-2222 or click here to connect with us online.