So continuing the previous article on how to be a successful landlord we have the following six tips to offer.  All have been hard won from either ourselves, or colleagues who have helped us write this.  So benefit from our mistakes and mark these well.

Have a professionally drafted lease. It may be tempting to download a lease agreement template from the internet or buy a generic one, but don’t.  Clients in the Naples luxury rentals market expect the best and either they or their lawyers will spot an inferior lease a mile away.  Any good lawyer would be able to pull it to pieces too, so it’s worth having a reputable lawyer draw one up for you.  A little expense now can save you a lot of expense later, especially if there are discrepancies.

Always be fair. Now that might seem an obvious one, but it’s important enough to re-iterate here.  Treat your tenants fairly and don’t try to rip them off.  Try to understand their position and consider any actions you might take from their perspective.  While you’re not there to be a friend and confidant, keeping them on side and having a rapport with them will make the whole process much easier.  Word gets around, fair landlords don’t have too many problems filling vacancies.

Don’t discriminate. Keeping on the being fair track, discrimination is an expensive hobby and a discrimination lawsuit will cost you dear.  Be mindful of the Fair Housing Administration Act and keep any opinions about your tenants to yourself.  You have to give equal consideration to all tenants regardless of race, ethnicity and religion.

Respect the privacy of your tenants. There are strict guidelines about when and how you can enter a rented property.  Each state is different, but a rule of thumb is that you need to give your tenants at least 24 hours notice if you intend on visiting the house.  Make sure you know the guidelines for your state to prevent any unfortunate scenes.

Make repairs promptly. While it can be a pain, property management and repairs come with the territory.  In the high-end home market, especially Naples luxury rentals or Port Royal rentals the client expects, and deserves a lot.  Prompt repairs, whatever they might be are one of those things a client requires.  How quick you respond is down to the type of problem, but try and get things repaired as soon as you can.  Not only does it keep the tenant happy, it will keep them with you longer.

Choose your staff carefully. If you have a large portfolio, you aren’t going to be able to do everything yourself.  Any staff or contractors you hire are going to represent you and your company so make sure they are professional.  Whatever they do when working for you they do in your name.

So between those two articles we have covered the basics of what it takes to be a good landlord.  Many of them may seem skewed in favor of the tenant.  This is exactly the case as a happy tenant means less vacancies, which means more money for you.