The nightmare landlord. It’s that time-defeating persona many of us grew up with like Mr. Roper from Three’s Company and the infamous Mr. Heckles from Friends. They are impatient, demanding, and just a bit (if not a lot) intrusive. And, while these characters are just that: someone created from another’s imagination, they are based on reality. Because landlords like this truly do exist. Here are three landlord mistakes to avoid, so you don’t join their ranks.
1. Ignore tenants.
Especially after some time passes and landlords get set in their ways or think they’ve come to know when a tenant is a complainer or asks for too much, they begin to ignore or put off responding. Ignoring a tenant, however, could be your greatest landlord mistake. No matter what your personal feelings about a tenant are, they are the source of your income and success. Treat them as such. When not an emergency, ensure every tenant gets the same attention, with no more than 24 hours of waiting from the time of work order submission to the time of response.
2. Fail to communicate.
While the property is your business, it is the tenant’s home. They deserve to know what happens concerning the property with plenty of notice. So, don’t surprise them with construction or utility work; and definitely don’t surprise them with increases in fees or rent. Give notice often and consistently, and give it in different ways (email, phone, signs, etc.) to ensure everyone receives it and understands.
3. Invade privacy.
Just like Mr. Roper, there are those owners and managers who feel it’s their right to snoop, given tenants live on their property, they simply want to keep things orderly. But as previously mentioned, your property is also a tenant’s home. As such, you must give them the privacy and respect you would demand. Only when it’s reasonable to expect something suspicious from a tenant, such as illegal activity or an act that would place tenants and/or the property in danger, is it okay to pry. Even then, it’s best to let the police take over.
Avoiding landlord mistakes
These three common mistakes to avoid are just the beginning. Many investment property owners in Texas make other common mistakes. The best way to identify and avoid common landlord mistakes is to partner with an experienced property management company like Class A Management. With more than four decades of successful property management experience, our team knows all the landlord dos and don’ts. Whether you are a new owner or a seasoned property investor, we will work with you to avoid common mistakes and help guide your decisions to maximize your investment return.
Make your tenant relationships positive. Contact the professionals at Class A Management. We are ready to be the face, eyes, and ears of your investment property.