Be A Consistent Landlord
Being a landlord has a lot more to it than just going to a mail box each month and expecting a check to be there on the first. The reality is, there are lots of moving parts and things that can happen on a property. I have seen a lot of landlords that become frustrated with their house and tenants but don't realize the situation could have been easily avoided due to changes they could have made. Being consistent with your procedures and establishing expectations with tenants up front is crucial. It is fair for your tenants to know what to expect if things like rent are late, repairs are needed, terminating a lease or moving out. If you alter the way items like that are addressed based on your own emotions or schedule, you are setting yourself up for a situation to become very messy. If a tenant is late one month but you don't issue a late fee, they will most likely be late again because they didn't think anything of it. Then you place a late fee and they become frustrated and annoyed. It is true that the tenant has the same lease signed that you have , but the reality is, it will still cause tension and potential problems. The key to being a good landlord is not just relying on the lease to make it work, but being consistent and fair with your tenants. They will appreciate this much more than if you forget to charge a late fee and then do it the next month. They want consistency in the relationship just as much as you. It will make managing your rental properties much easier.
Ian Walsh
215.839.3271
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