The Lord of the Land – 5 Tips on Being a Great Landlord
If you’ve ever been a tenant yourself, you probably already know that there are good landlords and bad landlords – the latter of which may still be haunting your nightmares! Prospective tenants deserve the very best care and attention, and the better you become at managing your property, the higher the calibre of tenant you’ll attract. Here at Frank Salt Real Estate we have developed an excellent reputation as a leading real estate agency in Malta – here are our tips on being the best landlord you can be!
1. Seek Plenty of Legal Advice
Review the lease with a good lawyer, making sure that any provisions included are not illegal. Go over landlord and security obligations, security deposits, eviction clauses, and tenants’ rights to make sure everything is legally airtight.
2. Respect Your Tenants’ Privacy
Showing up unannounced is a great way to invite a lot of awkward and uncomfortable moments. Don’t be the landlord who acts like a possessive girlfriend or boyfriend, showing up frequently and unexpectedly every so often. Always let your tenants know from before when you’d like to come over so that they have plenty of notice.
3. Stay On Top of Repairs and Maintenance
Humidity and climate take their toll on any piece of property in Malta. Don’t let mould grow and leaks continue to spring out of nowhere; the sooner you attend to any repairs the happier your tenants (and your own peace of mind) will be.
4. Keep an Open Channel of Communication
Tenants do need to be able to contact you, so make sure that they have your business number and your email address. The latter is ideal, as it’s always good to have proof of written communication between both parties should any sensitive issues arise. Give them a set period of time during which they can call during the day and the early evening, to avoid being harassed or called too often.
5. Add a Pet Clause to the Contract
Many prospective tenants out there are also pet owners; instead of barring animals from your property completely, include pet clauses in the agreement, stating clearly which types of pets are acceptable and what the tenants must do in case of any damage.
Are you a landlord? Do you have a house or apartment you want to rent in Malta? We want to hear from you!
The Frank Salt Real Estate Letting divison will set you up with an experienced consultant who will guide you on successfully placing your property on the market. They’ll show you how to make your apartment or house more rentable, as well as how to make agreements with tenants as smooth as possible. By placing your property on our database, we can help you rent it faster. If you haven’t got the time to manage your rental investment, then leave all that up to our Property Management people who will ensure that things such as maintenance, bills, check-in/check-out, legal requirements, and everything in between is all taken care of.