Managing properties is not an easy feat. It takes a lot of hard work and communication to find the perfect balance between you and your tenants. Being a property manager can be a lucrative career choice and is an easy way to build up your credit score, but there are imperative rules that you should never break:
Screen Your Applicants
Although a potential tenant may seem very nice and put together, they could also be the worst renters you could ever encounter. This is why it is imperative to always screen every tenant to check out their background and if they are safe to rent to. Also remember that even though screening is very important, do not discriminate against someone over minor issues.
Make Payments Easy
Rent should be a simple process and never complicated for you or the tenant. The best way to do this is by making everything accessible online. When your renters can easily make a payment in seconds rather than having to mail out a check, you are far more likely to never have a late payment ever again.
Stick to the Lease
Always have a written lease and stick to it. As soon as you make an exception, tenants are more likely than not to take advantage. If the lease says there is a late fee on the rent, it’s important to stick to it. Even if it is a month-to-month type of this, it’s imperative to remain as firm as possible when it comes to the agreement.
If you abide by these rules an never break them, you are sure to have a successful career as a property manager.