How To Deal With Tenants, Make Quick Decisions And Be Happy
When tenants pay late, a new landlord can often feel concerned, especially if those tenants are really nice people. However, it’s very important to learn the difference between a really nice person, and a really nice person trying to take advantage of you.
There are three principles you should follow as a landlord:
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Do the right thing,
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Always treat others as you treat yourself, and
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Always give 110%.
The next time you get a tenant who is providing a late payment, you can empathize with them. Your gut will also tell you what is the right thing, such as, if this is a recurring issue, you will need to fill out an N4 (Notice to End Tenancy Early for Non-payment of Rent).
Finding The Right Support Network
As a new investor, you may be stuck filling a property or finding a tenant. You may have tried to do everything on your own, but with the right support network, you can receive help when it comes to advertising and finding those tenants. Advertising can look like putting out content and writing different blog posts so that when people are looking for a rental, you are one of the top results in their Google search.
Partnering with the right real estate agent means you are recognizing you can’t do everything on your own while always giving 110%. Your success is dependent upon a symbiotic relationship with the people you work with. They may find you tenants, and in turn, you’ll always have a property available!
Alternatively, be careful of businesses that may approach you with a pitch that will “surely earn you a LOT of money”. Your gut instinct should be that get rich quick schemes aren’t real, and that anyone who is trying to offer you a sneaky deal to make a ton of money, is often only looking to make a ton of money for themselves.
Sometimes, you won’t notice these opportunities until you’re knee-deep in them, and that’s okay! A big part of learning how to deal with tenants and become a good landlord is experiencing a multitude of situations and learning from them first-hand. What was once a difficult decision, a few years later might only take you a few minutes.
Trust in yourself, always do the right thing, treat others as you treat yourself, and always give 110%!
If you are thinking of becoming a real estate investor yourself, or you are already an investor and would like to leverage your current investment(s) into more properties, or you are looking to sell one or more of your investment properties, give me a call at 905-683-7800.
I’ll be more than happy to answer any and all of your questions and help you with all our real estate investment needs.
Thanks For Reading Today’s BLOG!
Brian Kondo
Sales Representative / Team Leader
The Brian Kondo Real Estate Team
Re/Max Hallmark First Group Realty Ltd.
905-683-7800 office
905-426-7484 direct
brian@briankondo.com
www.BrianKondo.com
www.BrianKondoTeam.com
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