To Be A Successful Landlord, Plays Different Roles By Wearing Different Hats

A landlord is someone who owns and rents out property, whether it’s an apartment, a house, or a commercial property. However, the job of a landlord is a little more complicated than this description. Landlords often find themselves in many roles and positions, ranging from rental agent to debt collector.

If you are considering becoming a landlord, you may want to do a quick read on these unconventional roles that landlords are often asked to play

🧑💼 Property manager
A landlord’s house is properly managed. This means that in practice, either you outsource this responsibility or you do it yourself. Landlords usually do everything from creating online listings, responding to potential tenants, organizing viewings, doing those viewings, screening tenants, and arranging move-ins.

Plus, 👨💻 24-hour customer service online 🤬🤬🤬🤬🤬🤬!

👩💼 Marketer/Salespeople
It’s not enough to just have a property that you can show to people. If you want to get the best tenants, you need to convince them that this is the best apartment for them. Being a salesperson for a property means understanding attractive features, reading potential tenants, and generally being an attractive and average person.

Also, excellent marketing techniques and professional advertising are quite important in order to attract your potential tenants!

🧐 Detective (screening tenants)
The role of a detective is not as glamorous as in Raymond Chandler’s book. However, it is an important job for a landlord, especially if you want to protect your property.

For example, you’ll want to gather information about potential tenants. As well as talking to previous landlords and employers, getting character references, examining their online presence to determine the ambiguities in their stories, and conducting credit and background checks. You will then have to analyze all of the information you have gathered and rely on your intuition to determine if the tenant is a good fit for your property.

In addition, sometimes landlords have to play detective when dealing with tenant disputes or determining the root cause of repair work.

GPS has a particularly rigorous tenant screening system that judges and strictly screens tenants based on their background, including job, income, credit score and other information, and finally communicates the best tenant information to the landlord, and only formally signs the tenant when the landlord is satisfied and has given the go-ahead. That’s why even during the epidemic GPS 500 tenants’ rent collection went so smoothly, up to 99%. (The household that failed to qualify also ended up with a smooth resolution in the form of installment payments)

👩💼 Negotiator
Skilled negotiators always get a favorable deal. Being a good negotiator will help you, especially when you talk to contractors and workers.

If a landlord has more than one unit, they must negotiate when buying materials to get the best price for bulk purchases. For example, if a landlord is buying new furnaces for each of their eight properties, it is reasonable to ask for a discount.

Landlords must also negotiate the terms of any contract they sign, whether it is a lease with a tenant, a mortgage with a bank, or a hardwired smoke detector contract with an electrician.

🧑💼 Debt collectors
This is fairly self-explanatory. If a tenant is late in paying their rent, then you need to chase them down and make sure they pay. You also need to make sure that they are not late again.

If you end up having to evict a tenant because they refuse to pay their rent, then you have an even bigger role to play. Collecting the rent owed from them during or after this period will require patience and a good understanding of the law.

👨🔧 Repair man

It is not the landlord’s job to fix every little thing that goes wrong.

However, whether or not a landlord has extensive knowledge of construction, they will be asked to make requests for repairs. Landlords will be asked to fix a broken door handle, a blown light bulb, a malfunctioning smoke detector, or turn on the boiler pilot light.

The more basic maintenance you can do yourself, the cheaper your maintenance repair costs will end up being.👨💻 Supervisor (home inspection)
As a landlord, you have a legal responsibility to ensure that your tenants live in a clean and safe environment. With this in mind, you need to perform preventive maintenance to keep your property in top condition and keep your tenants happy.

👩💼 The Accountant
The annual income will have to be filed for tax purposes, preparing 1099 forms and annual returns.

How exactly can a landlord just collect the rent and leave everything else “alone”? If you entrust GPS Renting to take care of it for you, we have a team of professionals with over 20 years of experience to take care of all the hassle of housing management for you.

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☑️ If you are not a current landlord client of GPS Renting at the moment.

When your referred home (single family, townhouse and multi-family house) is successfully rented

you will receive a $25 gift card + $200 gift card.

☑️ If you are already a landlord client of GPS Renting.
You will receive a $25 gift card + $200 gift card when your referred home (single, townhouse and multi-family) is successfully rented.
you will receive a $25 gift card + one month of management fees for free.