Education and news for smart DIY landlords!
If you plan on becoming a do-it-yourself landlord, one of the things you should do to help your business succeed is to maintain a positive reputation. People, in general, seek recommendations before choosing a business.
What your current tenants say about you influences the opinions of future tenants. Word of mouth marketing is real. Information spreads quickly with the availability of online platforms and social media.
Here are five tips that will help you have a positive brand image in the rental property space. Let's keep your business afloat starting today.
A harmonious relationship doesn't necessarily mean being close friends with a tenant. We know that by being too close, tenants may start to take advantage of the situation by asking favors from you. The key is to be professional and responsible. Be open to hearing their concerns.
Not only will this tip help with your reputation, but it will also make sure that your tenants pay on time. A little flexibility goes a long way. Nowadays, more tenants prefer online or automated payment methods. Tenants who find it less convenient to pay in cash because they have a busy schedule prefer these alternative options.
Make a great first impression even when marketing your rental. The key is to post rental advertisements with high-quality photos, well-written and error-free copy, and accurate contact information. Do this whether you post your rental on social media, listing websites, or the local paper.
After screening a potential tenant, your next step is to have the tenant move into your rental. No tenant wants to be welcomed by a property that's in a poor condition.
A messy rental with some damages creates the impression that you don't care about the rental yourself. Prior to the move-in, do a thorough inspection to note any pre-existing damage. Check that all utilities are working. Remove any debris.
If a tenant writes a bad review, how do you respond in a way that minimizes its negative impact on your business? First of all, be quick to find bad reviews so you can remedy the problem right away. Set up Google Alerts to monitor any mentions of your business.
When you respond to the review, be sure to empathize with the tenant instead of showing defensiveness. Apologize and offer to fix the issue at hand. Reach out to the tenant in private. You'll want to avoid a long conversation online to avoid creating more damage to your reputation.
Thank you for reading this post! Creating a positive reputation starts before tenants move in. As you can tell, it takes a lot of effort to make sure that people see your business the way you want them to. With these simple tips, you should be able to present yourself in a good way and keep your renters.
If you’re ready, make Landlord Prep your go-to resource for landlording education. Here, we offer a complete DIY landlording course to get you on the right track. Join our academy today. If you want, you can check out Flavia’s real estate investing webinar first!