REI Wealth Monthly Issue 07 | Page 40

12 TIPS FOR BEING A GOOD LANDLORD AND HAVING HAPPY TENANTS SHARON VORNHOLT 10. You can pick up change of address booklets at the post office. Including these in your move in packet is a nice touch. 11. Send them a welcome letter or postcard after they have moved in telling them how happy you are that they are your new tenants. Let them know once again how they can contact you in if there is a problem. 12. “Train” your tenants to pay on time. They will get the idea quickly that they have to pay on time if they immediately get a 7 day letter when they are late on the rent. It’s also not a good idea to waive late fees especially in the beginning. Why would they pay on time if it wasn’t expected of them? As a landlord, taking care of your responsibilities quickly and efficiently benefits everyone. When you are a good landlord, this usually results in having happy tenants. Simply setting the stage for a good experience at the very beginning assures them that they have made the right decision moving into your rental. Even if you only have a couple of rentals, treat this as a business or it will quickly become an expensive hobby! The quality of your rental determines the quality of your tenant.