4 Tips for Landlords - Which of these are you using and which are you going to use?

Question

A lot of landlords out there are missing the fact that the tenants are the caretakers of their investment. And to make them more invested as caretakers and not just feel like renters; these are five tips that can help. Which of these are you using now, and which will you use? Or which do you think doesn't make sense for you?

1. Online Rent Payment (please tell me you still don't collect rent in person). This is less possible in some C- to D neighborhoods, but C and up should all be on auto-pay, so the late fees get automatically deducted.

2. Exterior Upkeep. This is so undervalued. If your tenants come home to an ugly or dirty exterior every day, why would they keep the inside perfect? Just a little landscaping and cleaning goes a long way.

3. Laundry Timeslots. If you have laundry, you want to reduce the amount of laundry fights your tenants have. Setting a schedule for who does laundry on which days makes everyone's lives easier. Yes, they don't always listen, but if you have it set, it's easier to reduce the "they put my laundry on top of the dryer" moments like in college.

4. Parking and Backyard Splits. If there are two parking spaces, they should be labeled so each tenant has a dedicated space. You would be surprised at how many calls this will save. Same for backyard - even if it's small, cutting it in half with a fence makes it easier for both to enjoy a holiday barbecue in their own space.

These are low-cost options that will help create a better relationship with tenants. What's your take?

JD Martin · Answer

I don't manage any apartments any more so just 1 & 2 for me. We go so far as to include lawn and landscaping care in the rent, non optional, because tenants suck at cutting grass and maintaining the exterior. Since we transitioned everyone over about 5 or 6 years ago I've only had one tenant ask if he could cut his own grass just because he liked doing it. We let him, and he sucked at it so that was the end of that experiment. We use professional crews that can cut, edge, and blow off all the decks and hardscapes in 25 minutes and the yards look great - no more complaints from the city or neighbors.

Mark F. · Answer

Ah, yeah single lane parking would be tough. Haven't seen too many in Bergen but looks to be more common in Essex.

I've been trying to RSVP but of course work has kept me late the last few months. I'll pencil the first Wednesday in May as Teaneck is too close to miss!

Jonathan Greene · Answer

I have all of my landlords using Azibo. There are others that work as well, but we have had good success with Azibo for ease-of-use and self-managing.

Jonathan Greene · Answer

My man! If I heard the word smoking or hole in the wall from a past landlord, it would be an automatic no. Yes, for parking as you get bigger, numbered spaces or just the unit sprayed on there will alleviate some issues. The hardest are when it's a one-lane driveway for a multi because then the tenants have to work together.

I think you specifically have learned how to work out some kinks from house hacking and being on-site first before you were off-site. Come to a meetup soon my guy. May is in Teaneck, let's go!

Mark F. · Answer

I stated online rent payments with Cozy.Co the day I closed on my first duplex, best decision ever. Now it's apartments.com and I'm up to 6 units on there, works perfectly fine and it's free. Auto late fees and reminders just make it super simple. No issues with laundry yet as I've been lucky to set up every unit with their own. Parking has been straightforward as my driveways have been set up to where each parks on one side. I imagine once I buy a place with a small lot, designated spots are the way to go like you said. Maybe little signs or spray paint numbers? I completely agree with the exterior property maintenance. Whenever I'm at a property, I pick up little pieces of trash. My realtor is also having a sit down with a prospective tenant to address some concerns I heard when I called their previous landlord, mainly no smoking and holes in the walls. I've heard your philosophy on how it's our property but it's their home. If tenants are willing to treat it as such, maybe it's not a good fit. We'll see how their tenancy goes. First ones that have had a spotty past.

Vasudev Kirs · Answer

thank you for great suggestions, Jonathan.

are there any web solutions or systems out there to collect rental payments? What do you recommend?

Radhika Rastogi · Answer

Great post. Agreed - I’m using 1 and 2 for my SFRs. So important that the house is clean, exudes warmth and makes the tenants wants to take care of it - I find this to be imperative especially if you’re charging top dollar in the market.

Mose Gebremeskel · Answer

I have used these all! Online rent payments is a MUST.

Alyssa Wright · Answer

Online rent payment is the best way to go in my opinion! Especially with it being a reliable way for both the landlord and the tenant to keep track of their ledger.

In terms of exterior, I agree when it comes to multis but typically we put it on the tenants for single-family residences to be responsible for up-keep. A cool thing to offer though is if a tenant in a multi-offers to cut the grass instead of a vendor and just allowing them a credit per grass cut.

I've never considered laundry timeslots before but it is a really great idea and definitely something that I think a lot of PM's & landlords could benefit from utilizing.

Overall, these suggestions are great, easy to implement, and cost effective!

Tracy Minick · Answer

Love this! Yes to online payments!

Exterior upkeep is essential

Have enough machines for laundry timeslots to not matter, but great idea!

Agree 100% of marked parking :)

4 Tips for Landlords - Which of these are you using and which are you going to use?

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