Taught a 1 day class this past weekend on how to be a good landlord.
Most attendees are either current property owners who rent their properties or people thinking about if they want to be a landlord. Most were concerned with legal issues, and how to screen for good tenants.
It was a great class and always reminds me of the basics that are so important.
What continued to be reitterated throughout the class was the importance of good communication between owner and tenant and how that can resolve most issues. Second, Owners needs to have Procedures in place and stick to them. They also need to have their support group already in place such as the plumber they want to use well before they get the call on Sunday night before a vacation that plumbing is backing up. You don’t want to have to go through the phone book trying to find someone that you don’t have a relationship with.
I think many in the class walked away with a wealth of knowledge and a really good binder full of materials that will form the foundation for their property management endeavors.
I was reminded of why I got into the property management business to begin with - I am really good at all the important things - excellent communication skills, policies and procedures, and exceptional business and accounting skills. I love what I do and I love sharing what I have learned to help those that are Do It Yourselfers do it better.