Being a landlord comes with challenges, frustrations, and a steep learning curve, but mastering landlording can help you boost your return on investment with less stress.
If you’re ready to improve your efficiency and success as a landlord or are new to landlording, check out our curated guide with 95 must-know landlord tips for those craving a true deep dive into the rental world.
In this article, you’ll find:
Landlording is a business, not a hobby or a side job. Even landlords with only one rental should view their investment as a business. Take it seriously, have a process in place for accounting (such as REI Hub’s software), and don’t get too emotionally attached to your property.
Damage will occur, but it’s all part of this business. Be tough on screening and stick to your rules – you’re not doing this for charity but to make money. Never forget that.
Haven’t taken your property marketing online? Now is the time! With most renters falling in the millennial generation, the more online visibility you have, the better. Opt for a free property listing syndication to increase interest without extra work on your end.
Do you always wind up with vacant units that are difficult to move? Consider running a rent comparison report to determine if your rent price is in the correct range. Remember, pricing will also be affected by the condition of your property and the amenities offered.
If there’s one landlord tip to remember, it’s this one! Always screen your tenants to check their credit history, criminal background, and eviction history. These important screening factors will help you choose a qualified tenant and protect you from facing costly eviction proceedings.
Regulations for housing vary significantly from state to state. That’s why creating a state-specific lease is critical to ensure you and your tenant are protected – bonus points if it’s digital so you can keep track of your records more easily.
When a new tenant moves in, schedule a walkthrough and fill out a condition report. Also, fill out a move-out condition report when the lease is up. This will help you stay on top of damages and create any documentation you need to back any security deposit deductions:
From your standard lease to any contract you’re forming, get everything in writing. The more documentation you have as a landlord, the better. Verbal agreements are never as safe as written agreements, particularly in the eyes of the law.
While collecting rent in person may seem like a thoughtful touch, it will become more of a time drain than anything. Conflicting schedules, last-minute emergencies, and rain checks could mean you don’t receive your rent payment on time. Skip the headache and opt for one of the many other viable choices for rent payments, such as collecting rent online. You’ll save time and stress.
Renters insurance doesn’t just protect your tenants; it also protects you. Consider making this a requirement for renters.
One of the most essential landlord tips is ensuring you know Fair Housing Laws inside and out. You must follow these laws to avoid discrimination lawsuits.
Pro Tip:
You can learn more about the Fair Housing Act to avoid catching a discrimination charge in the Fair Housing for Landlords course.
Beyond Fair Housing Laws, brush up on all your local laws and regulations regarding landlords and tenants. For example, in Fort Collins, Colorado, landlords are required to provide screens for all windows in the house. Not doing so would put the landlord in violation of the city’s regulations.
It’s a simple thing, but it’s also the number one complaint of tenants. Communication is key. From the moment you sign a lease to handling maintenance requests to communicating late fees, don’t ghost your tenants.
From the moment you meet your new tenants, be sure you are building a professional and consistent relationship. The goal is for respect to go both ways. Be courteous and kind.
If you have a late fee for paying rent after a certain date, stick to that fee. If you charge a fee for snow removal and the tenant doesn’t handle it in a timely manner, be sure to charge the fee. It’s essential to remain consistent or tenants may begin to pay later and later. Uphold the agreed-upon rules within the lease agreement – otherwise, the agreement could lose its significance.
Inspect your rental properties at least once a year. However, every three to six months is ideal and allows you to catch damages to your property and inspect any lease violations.
Never let your tenants handle repairs or upgrades to the property. Investing in professional work will help keep your rental property in the best shape possible.
Find contractors you trust and build a good relationship with them. Have them on speed dial, and be sure you have emergency contacts. Want to make it even easier? Allow your renters to schedule maintenance repairs around their own schedules, keeping you from having to meet contractors when something pops up. This is especially helpful for remote landlords.
Respond as quickly as possible if your tenants bring up a legitimate maintenance concern. One of the number one complaints of responsible tenants is a slow response from landlords to maintenance requests. Put yourself in your tenant’s shoes. Would you want to wait on the maintenance request? Additionally, by keeping up with maintenance, you’re protecting yourself from liability.
Don’t make the mistake of trying to be a landlord alone. Build a network of people who can provide advice and will support you. Whether you join an online community of landlords or a local meetup group, find like-minded folks to help keep you on track.
If you have responsible tenants who love your property, your business will be much less stressful. Aim to retain happy tenants. Do extra things, such as upgrading an old appliance or replacing a sagging door. Doing so will help keep good tenants around.
If you own multiple properties, look into installing locks that are simple to swap out. When you turn over tenants, you will be able to rapidly change out the locks without hassle. Or, switch to a keyless entry system that lets you easily swap codes.
If you own multiple properties, choose one paint color for the interior walls and use it across the board. By standardizing your paint, you will save yourself time and money when you turnover units.
If you live in a cold climate, don’t forget to winterize your sprinkler system. Hire a professional to blow out the sprinklers and arrange to cover outdoor faucets.
If you are looking for upgrades that will help make your property more appealing to renters, consider some simple tech upgrades. Installing smart thermometers and USB outlets will help your property stand out.
If you own an apartment complex or other multi-unit complexes with common areas, maintain them. By keeping these areas clean, well-lit, and inviting, you will improve the attractiveness of your property overall. Unkempt common areas will create a negative first impression for potential tenants.
During cold weather, make sure you have a snow and ice removal plan for multi-unit properties. Someone slipping and falling could be cause for a lawsuit.
Don’t leave landscaping up to the tenants. Hire a professional and charge the tenants for it. They’ll be happy to have a beautiful yard, which they don’t need to maintain – plus you’ll save your yard from neglect.
Nothing will come across as creepier to potential tenants than a dimly lit hallway. Install new lighting fixtures as needed and keep up with light bulb replacement.
You never know when you might need to get into one of your rental properties. Having an extra set of keys can be critical when a tenant abandons your property or in the case of an emergency.
If you live in a colder climate, be sure your lease includes language about keeping the heat at a minimum amount during winter months. Failure to do so can quickly cause problems if tenants leave on vacation and turn their heat off, leading to frozen pipes and costly repairs.
Nothing hurts your chances of getting quality tenants more than showing a property with obvious issues. Every tenant has heard, “We’ll get that fixed before you move in,” and they’ll be skeptical from day one. Push your showings back a few days and make the needed repairs so that when you do show your property, it shows as best as possible.
Make sure you take high-quality photos that showcase the best of your property. A picture is worth a thousand words, and in the case of rental property listings, it’s worth even more. A listing without photos or good photos is much more likely to be passed over.
First impressions are important for attracting qualified tenants. Make sure you consider the curb appeal of your property before you schedule showings. Is it overgrown? Does it need a paint touch-up?
How you handle property showings will dictate a lot regarding how many tenants are interested in applying to the property. Be sure you brush up on handling property showings and put a professional foot forward.
It’s a small detail, but opening up doors will help your showing go smoother. Most people won’t open doors that are closed, and you could be missing out on showing off some of the best features of the property. Open closets, cabinets, bathrooms, and extra bedroom doors before guests arrive.
If you are showing an occupied unit, be sure you know what you are getting into prior to the day of the showing. Schedule a time to walk through the property with current tenants before the showing. Doing so will prevent you from showing a property that is uninhabitable or filthy.
To help keep your property safer and more inviting, keep all common parking lots well-lit. Doing so can help cut down on crime and unwanted behavior.
When your property is vacant, be sure to snap photos. Doing so will help when you show an occupied unit, as potential tenants will understand how the space will look when they move in. This strategy helps them imagine living in your rental.
If you have a multi-unit building, consider hiring a professional to take photos of each unit type. You can then re-use these professional photos every time there is a vacancy.
Cut down on how much time you are showing your property by scheduling appointments for open house showings. This is particularly useful in high-demand markets. You will only need to prep your home once, instead of 20 times.
If you have interested parties after showing the property, provide clear instructions for the next steps. If you have an online rental application, use it to direct applicants to the correct location. If you will be screening them, inform them of any screening fees.
Don’t offer nine-month leases in college towns, as this will leave your home vacant and unpaid during summer breaks. If nine-month leases are standard in your town, consider offering lowered rent to those who sign 12-month leases and higher rent prices for those who sign a nine-month lease.
Don’t skip this landlord tip – when you receive an application, take the time to read through it thoroughly. You might be surprised at how much people will reveal on an application. Skimming it could cost you valuable information.
While credit checks can help you gauge a tenant’s responsibility, eviction reports are more valuable. If you see a pattern of evictions with an applicant, you can quickly see what issues you may be dealing with down the road.
Not only should you ask for references, but you should also take the time to call these references. Previous landlords and employers are excellent references to ask for and follow up with.
Validating an applicant’s proof of income is integral to the screening process. Verifying employment will help protect you from fraudulent pay stubs.
If you are working with someone who is relocating to the area, you might not be able to meet them in person. Verifying their identity during the screening process is essential to guard against identity theft. Opting for a reputable company like TurboTenant to handle your screening will help protect you from fake identities.
Your screening criteria should be set before you ever begin screening tenants. For example, your property listing states your credit and income policies and any extra policies such as “no smoking.”
Before a tenant moves in, consider putting together a small welcome package. Doing so will go a long way in establishing a positive landlord-tenant relationship. You can also use a tenant welcome package to remind tenants of important phone numbers and policies and set the right tone. For example, you might include some helpful cleaning supplies, a gift card to a local pizza place, a list of emergency contacts, and their list of responsibilities, such as yard work and snow removal.
If you have responsible tenants, treat them fairly. For example, if you have a tenant who has paid rent on time for three years and one month they are three days late because of a family emergency, be fair and consider how they have handled things in the past.
Being a landlord requires a good deal of discernment. You will need to learn to discern between truth and lies, trustworthy and unreliable. Doing so takes practice; the longer you’re a landlord, the better your discernment will become.
Nothing is worse than a tenant not knowing who to contact in the case of an emergency. For example, who should they call if pipes leak in the middle of the night?
Be aware that there are places where tenants can review you and your properties. Monitor your online profile. Maintain a positive face online. Be careful when posting on public forums with your real name; tech-savvy tenants can easily find things you have said about them online.
Even though you may want to do a drive-by or drop-in inspection, you need to respect your tenant’s space and notify them if you will be stopping by. Brush up on your state-specific landlord-tenant laws.
If you say you are going to do something, then do it. Do not disappoint your tenants with empty promises of updates and other solutions. Treat your tenants well, and they tend to return the favor.
Tenants are only human. Although expecting your property to be in perfect condition upon vacancy is reasonable, this can be unrealistic. Having unrealistic expectations will only frustrate you as the landlord and place undue stress on tenants who otherwise may be great renters.
Although we’ve talked a lot about running your rentals like a business, the best businesses are ones that are compassionate about their customer’s needs. Listen to your renters and understand that certain circumstances will require your understanding.
Before you hand over the keys to your property, be sure you have collected the first month’s rent and the security deposit. Check local laws to determine what you can charge for a security deposit. Traditionally, a security deposit is equal to an entire month’s rent.
When collecting the first month’s rent, verify your tenant’s funds. This can be an in-depth income report, a cashier’s check, or a money order.
Establish a set late fee structure and include this info in your lease. Detail exactly how many days equals “late” and what the fees will be for each day. Remember to check local laws and regulations before creating late fees.
If you hold off on raising the rent because good tenants stay year after year, it will make it more difficult when you have to raise rent down the line. Yearly rent increases help you keep up with the rising rental costs.
When you manage more than one property, it can be easy to lose track of things. Be sure you are vigilant about your rent receivables. Stay organized, and you won’t miss out on rent payments.
Make sure you know the best way to handle your rental property taxes. Ensure you receive every tax advantage you can while following all the tax regulations for your city and state. Learn about tax deductions you’d feel foolish missing with our 10 Expensive Tax Mistakes to Avoid course.
Itemize any damages caused by the tenant, and give notice before you require money or withhold anything from their deposit. Account for each issue and the cost you’ve incurred to fix it. Receipts are unnecessary, but be fair in what you charge for typical repairs. If you end up in court over damages, no judge will let a $500 charge for a broken lightbulb fly, even if it’s outlined in the lease.
Be sure to keep records of your renter’s rent payment checks. You’ll need proof of payment if you need to evict or send a tenant to collections. If you are awarded additional money, these records could enable payment to be withdrawn and deposited into your account.
One way to ensure you file your taxes accurately while taking advantage of any breaks you can is to hire a quality CPA. A professional can help you protect your bottom line and help you better understand your finances.
If you have an apartment complex or a multi-unit property, consider installing a coin-operated laundry service to make some extra cash. Your tenants will love the convenience of on-site laundry.
Green energy is the way of the future. Consider investing in solar panels for high-end properties, which will improve their market value and allow you to charge more in rent while passing on energy savings to your tenants. Plus, green energy allows your business to be more sustainable.
Focus on investing time and money in efforts that help grow your business. If needed, take your personal style out of these decisions and try to focus on what renters see as valuable.
Another great addition to a multi-unit property is covered parking. Create a few covered parking spots on the property and charge rent for those who prefer covered parking.
There will come a time when multiple problems strike your rental at once. Set aside money so you can fix any issues without worry. We recommend saving at least three to six months of expenses for each rental property in your portfolio.
If you have small units, consider adding storage sheds to your property. Doing so will be more convenient for your tenants than a storage facility and can earn you extra money.
Evictions rarely go smoothly, and they require a lot of paperwork, knowledge, and money. For the best chance at a successful eviction, hire a professional. A cash-for-keys agreement is an excellent alternative to avoid an eviction.
Common practice is to have each property in its own LLC, so they’re all isolated from one another. If a lawsuit arises, only that one property is at risk, not your personal income, property, or the rest of your portfolio.
You can quickly land yourself into a legal mess if you don’t educate yourself on your Fair Housing Laws surrounding service and emotional support animals. Protect yourself from a lawsuit by understanding your role as a landlord.
While federally protected classes exist no matter where you own rental properties, some cities and states have their own set of protected classes. Be sure you understand them before you begin screening tenants.
These companies don’t always have your best interest in mind and might be lenient in their screening process when placing a client in a home.
These associations will help by providing you with law updates, landlord tips, and resources.
Turnover is timely and expensive. Try to retain renters through longer leases. While the negative side of this is that it makes getting rid of a bad tenant harder, long-term leases are ideal if you have excellent tenant screening.
Usually, you can get a deal on a property with existing tenants since other buyers may not be competing for these properties. Doing so also ensures you’re getting rent from day one. Vet these tenants well and demand an estoppel letter. Doing it right can be a great way to quickly grow your portfolio without the stress of finding new tenants immediately.
Allow tenants to call plumbers and emergency contractors immediately when there’s a problem should they not be able to get a hold of you. Save a lot of headaches by accepting that you may not be the best person to call in all situations.
It’s easy to collect mail at a PO Box and difficult to keep your tenants from bothering you at home. Have all rent payments sent to a PO Box and keep your personal address private.
If you continue to grow your portfolio, you must assess your weaknesses and hire professionals as needed. For example, if you know you are disorganized with paperwork, hiring someone part-time to help you organize might be worthwhile.
Put it in your lease that you don’t allow parties, loud music, or kegs of beer (seriously, put this in your lease). This will protect you in the event of noise violations, issues with neighbors, or damage to your property. Even though tenants may still have parties, at least it’s in writing that they agreed not to.
One of the most common mistakes of landlords is to take landlording lightly and not keep excellent records of everything. Being organized will allow you to manage efficiently, keeping your time commitment low and your profits high!
Set up times that your tenants can communicate with you and expect a prompt (if not immediate) reply. This is a great way to set healthy boundaries. Obviously, this doesn’t pertain to emergencies but regular everyday questions and needs.
Don’t feel pressured to discount your property just because you know a potential renter. Now that you are a landlord, people will ask to rent your place at a fee they see as realistic. Friends and family discounts will eat into your profits.
Even if you own the property and don’t hire a property manager, stepping into the role allows you to be stern and direct with tenants. It’s not about deceiving your tenants; it’s about taking emotions out of your decision-making. If you struggle with confrontation and being firm, telling your tenants you are the property manager can save you from sob stories.
Technology can help keep you organized and save you from drowning in paperwork. Shift to online rental applications, screen tenants through a digital service, and create a dedicated email address for your rentals. Find all the tech tools possible to make your life easier.
Having a rental sit vacant for a few weeks while you find the right tenants will always be a better decision than rushing the screening process to accept mediocre tenants because you feel pressured. Do your due diligence and rent to the best prospective tenants, not the first ones.
Be sure to have emergency plans in place when you are away or on vacation. Accidents still happen when you are unreachable, so have a list of contractors and service providers available. Ask a fellow landlord to cover any calls from your renters, or hire a temporary answering service.
Always have a backup contact for your renters in case of an emergency. Two backup contacts are even better. Communication is key to landlording, so find another landlord or two you can trust and become one another’s backups.
As a business owner, it’s important to remain professional. Use your best judgment and avoid flashy behavior in case of resentment. You should remember to dress nicely and accordingly when meeting with a tenant.
After showing a property to interested applicants, walk them to their car. By looking at how clean they keep their car, you can get an idea of how well they will treat their home.
If you made it to the end of this article, then you’re genuinely dedicated to continuing education. Keep educating yourself on the latest and best ways to market your property, screen tenants, and manage your portfolio.
Thank you for sticking around as we shared our top 95 landlord tips with you. We hope our advice can help change the game for you.
One last tip: Sign up for a free TurboTenant account today.
Doing so will help you advertise your rentals, send and receive rental applications, generate state-specific lease agreements, collect rent, and more.
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At TurboTenant, we believe that a rental property is an investment that is well worth your time and money as long as you do your due diligence to vet your potential tenants. By selecting responsible tenants, you ensure they pay their rent on time, take care of the property, and don’t require you to go through a landlord’s biggest nightmare – an eviction.
Unfortunately, not many of us can become great landlords overnight (in our dreams, right?). That’s why we encourage all novice and experienced landlords to always be open to learning. Staying informed on the industry will keep you up-to-date on the latest and best practices to market your property, screen tenants, and manage your rental portfolio.
As a landlord, you have the right to choose the most qualified tenant if you base your decision on legitimate reasons, such as adequate income, credit score, or eviction reports. Your decision should always comply with fair housing laws.
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