Essential Tips for Being a Good Landlord
Essential Tips for Being a Good Landlord
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May 25,2022

Essential Tips for Being a Good Landlord

The reality is that anyone can become a landlord, but it requires a lot of real awareness and effort to be a good landlord. As a rental property owner, the last thing you want is to have a high vacancy rate because you failed to refine habits that will set you aside from the rest. If you have too much on your plate hindering you from being there for your tenants, you should consider hiring a property management company. At 3 Options Realty, we have a team of experienced and well-trained experts ready to help you enhance your professionalism and skills. Here are some common tips suggested by various property management companies to help you become a good landlord.

Treat Your Rental Property Like a Business

There are many ways a person can advance to landlord status, and that's why it is vital not to withstand how you became one to treat your rental property as a business. Like any good business, investing resources and time goes a long way in becoming the ideal landlord and ensuring your property is harm-free and safe for human habitation. This can only be achieved by conducting routine maintenance and repairs before they become more pronounced. Interacting with your tenants and understanding their needs helps you provide the ideal rental space that complies with federal, state, and local landlord-tenant laws.

Set an Accurate Rental Rate

An excellent way to ensure you are fair to your tenants is to familiarize yourself with the local rental rates. While the motive behind every business venture is to get a significant return on investment (ROI), overpricing your rentals can increase your vacancy rate, which is not ideal. A property management company has a team of professionals with vast industry knowledge and a deep understanding of the local rental market. To ensure you offer prospective tenants the most suitable rates.

Know Your Renter Demographics

A good landlord knows the type of tenants for their property, which doesn't always mean one who pays rent on time. Whether you own a single-family home or an apartment, you need to ensure that the property's location is ideal for your target audience to avoid constant disputes with your tenants. At 3 Options Realty, we can fine-tune advertisements to help you attract the type of tenants you want on your property without compromising your return on investment.

Invest in Tenant Screening

Screening potential tenants is one of the ways of ensuring you are a good landlord since not all tenants will provide a written application. We can help you run all the information they provide through cutting-edge screening technology to detect any red flags early, like background and credit checks, and call previous landlords for more information. We understand that running background checks can be challenging for someone who lacks sufficient knowledge and expertise, and that's why 3 Options Realty does all the heavy lifting to ease the process.

Hire a property management professional to ensure you are on the right track to being a good landlord. Contact us today and schedule an appointment with the experts and learn how you can be the ideal landlord.

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If you have been rummaging through web results for “property management companies near me,” then you are at the right place. 3 Options Realty’s property managers in Atlanta are experienced and trained to deliver top-tier service. Call 3 Options Realty to speak with a friendly representative today to learn more about our property management & real estate services. We are ready to take your call.

Buy, Sell & Rent with 3 Options Realty

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We use professional market research to determine fair-market rent, and we use broad market advertising to reach a large audience. Our agents will also help you prepare your property and skillfully present your property. Prospective tenants will undergo comprehensive interviews and background screening before we negotiate with them the rental agreement using our proprietary, attorney-reviewed forms.