Being a good property manager is an excellent way to earn more with your investment property because you’ll retain tenants for longer periods of time and avoid expensive vacancies and turnover costs.
Whether you’re a new landlord or an experienced landlord who has faced some challenges in the past, we have some advice as professional Irvine property managers about how to improve your process and create a simple, successful tenancy for you, your tenants, and everyone else involved in the maintenance and management of your property.
Create a Strong Irvine Lease Agreement
Your lease is where you will share all of your expectations and let the tenants know what they are responsible for throughout the lease term. All questions should ultimately be answered if a tenant isn’t sure about a process or a requirement. Before your renters move into your property, go over the lease in detail. Make sure it’s legal, compliant, and fair.
When your tenants know what you expect, they can perform the way you want them to. Your lease must reflect how much rent is due, when it should be paid, how it should be paid, and what the penalties are if it’s late. There should be information about how to maintain the property and set up the utility accounts. Don’t leave tenants wondering what they’re supposed to do or where they’re supposed to turn for help.
Be a Consistent and Accountable Irvine Landlord
Your tenants will expect you to provide a safe and habitable home and to respond to their needs and concerns. Part of being a good landlord is holding your tenants accountable, but you must be accountable too.
Answer questions, provide resources, and be willing to help tenants when they have a complaint or an issue that needs resolution. You can remain available and accessible without being overbearing. You cannot show up at the property unannounced, for example. Respect their privacy. You might own the home, but they are living in it. Leave them alone unless they need you.
Make Maintenance a Priority
One of the things that causes the most frustration for tenants is when their landlords don’t respond to rental property maintenance or take their repair requests seriously. When a tenant submits a repair request, you need to respond right away.
Even if you feel it’s a cosmetic upgrade that isn’t really required, let them know what your decision is and why you won’t be taking care of it. Invite them to discuss it further. When it’s a repair that you do need to make, schedule the appropriate vendors and contractors and make the repair as convenient for your tenants as possible.
Follow up once the work is done and make sure your tenant is satisfied. Good landlords are responsive when it comes to maintenance and repairs.
Communicate Openly and Be Available
Communicating with your tenants is critical. You have to be accessible to them by phone and by email. Thank them for their rental payments and check in with them if you haven’t heard from them in a few months. You want to show that you care and that you’re invested in them having a good rental experience.
At HCM Property Management, we have been outstanding property managers for Irvine tenants and owners for many years. We can help you have a better rental experience. Contact our team for more tips and advice.