Landlord Tenant Basics Accurate Credit Bureau

Whether you own a large apartment building or a single rental unit, you must treat the business of being a landlord as just that: a business. This means that you must act in a businesslike manner at all times. Even if your tenant is a friend and neighbor, you must be certain to treat the business relationship as a business relationship. This does not mean being unfriendly, but it does mean keeping proper records and dealing with things in a businesslike manner.
Large landlords can afford to have lawyers on retainer and fight lawsuits on a regular basis. But most readers of this blog are small landlords. As such, even one lawsuit can cost you a great deal in legal fees, aggravation, and lost rent, even if you win. But legal information is not enough, by itself, to avoid legal trouble. You also need certain business policies. Since you cannot afford a lawsuit, you must try to keep your tenants from wanting to take you to court. This is easier than it seems.
Most businesses in our society have a fundamental rule: The customer is always right. Much of the acrimony between landlords and tenants arises because people in the rental housing business all too often forget that rule. If you are dissatisfied with your purchase at a local department store, they will give you a refund with a smile. They would never say, If you don’t like it, don’t shop here. A department store would never try to get rid of a customer for complaining. Yet many landlords do exactly that. Your tenant is your customer, and a satisfied customer doesn’t bring lawsuits.
This doesn’t mean you have to comply with every request. It does mean that you should try to respond promptly to reasonable requests. It means being friendly and courteous. If you approach your tenants with a chip on your shoulder, you shouldn’t be surprised if they respond in kind. Much of the secret of getting along with tenants is nothing more than the secret of getting along with people in general.
This may also mean not charging the absolutely highest rent that you think you can get. It can be well worth your while to keep the rent a little lower than market in order to keep a good tenant. For more information on tenant screening and Landlord tips see Accurate Credit Bureau.

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