How can I be a good landlord?
Will be renting out a 2BHK in a Prestige property. How can I make a tenant's lifecycle easier, while also ensuring (note: ensuring, not hoping) I don't get ripped off?
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true.... because of this, a few good owners pay the price.
Always provide semi furnished flats, not furnished. Easier for both parties to maintain.
Always take a copy of tenant's personal IDs and an emergency contact of someone in city+parent.
Always make a proper rental agreement with clearly defined terms. Always declare restrictions upfront, not after they move in. If you don't have a list of restrictions, you should.
Try and take 3 months deposit, more than that isn't realistically required and is a huge burden on tenants.
- It's ok for you to have preference - religion, bachelor vs family, pets, non-veg etc. But be upfront and clear about it. Makes it easier for both parties.
- Deduct 1 month rent and return the entire deposit on time.
- Don't over invest. Semi furnished is decent.
- Ensure basic amenities are fine and jump and get civil work done. Plumbing, mold, seepage, etc - get this done yourself. Don't expect the tenant to get this done and deduct from rent, etc.
Treat the other party just like how you would want to be treated in a rented place.
All sane points.
good landlord is like good manager, doesn't micromanage and interfere in personal life.
