Preparation is one of the keys to business success. Before you venture into a business, you have to anticipate all the possible challenges you could encounter. If you are prepared, you will be more capable to handle a crisis, provide solutions, and minimize loss.
As a landlord, your tenants expect you to be able to respond to their concerns as promptly as possible.
Based on the common problems that occur in rental properties, some items or tools are necessary for a landlord to be able to immediately address issues and prevent tenant complaints and dissatisfaction.
1. Basic Repair Tools
There are some physical issues in your unit that doesn’t need a professional handyman to fix it. Some of them can be done even by someone who only has limited repair skills.
Having basic repair tools in hand can save you from spending professional fees for service providers, and you don’t have to wait for them to be available.
Some basic tools you can have are screwdrivers, hammer, tape measure, pliers, scissors, utility knife, pry bar, chisels, digital multimeter, nails, screws, and bolts.
If you are capable of handling electric drills and other power tools, then it’s better to have them as well.
2. Essential Maintenance Supplies
Other than tools for repair, there are certain maintenance supplies that you might need frequently. You never know how urgent some maintenance concerns may be so you might not have enough time to drive to a hardware store when it happens. Having them readily available beforehand can make things easier for you.
Try to stock up on these maintenance supplies: wood glue, caulk, epoxy, paintbrushes, touchup paint, sandpaper, drop cloths, scraper, putty knife, plumber’s putty, plumbing tape, duct tape, electrical tape, and spackling compound.
Related article: Your Tenant’s Repair and Maintenance Responsibility
3. Spare keys
It’s important to limit the number of keys you give your tenant for the safety of everyone on the property and to prevent subletting. This is why in case your tenant loses your key, you should have a duplicate with you. This is also helpful in emergencies.
You should also have bolt cutters and a lock-pick set in case of the event where your tenant abandons your property or changed locks without your permission to prevent you from having access to the unit.
4. Cleaning Materials
Cleaning is usually a tenant’s responsibility. It would be weird if a landlord goes to their homes daily to perform janitorial services for them. However, if there’s a mess in common areas or you are preparing a vacant unit for new tenants, basic cleaning tools will come in handy.
Make sure you have brooms, mops, buckets, cleaning rags, sponges, paper towels, trash bags, dish soap, and bleach. You can also invest in a vacuum cleaner.
5. Directory of Service Providers
If the damage that needs to be fixed is more severe and requires professional services, it would be addressed more quickly if you have a directory of service providers such as plumbers, electricians, locksmiths, and handymen. Ideally, they should be located near your area.
For legal, financial, and taxation matters, you would need to have to be able to easily call trusted experts such as attorneys, accountants, financial advisors, real estate agents, and mentors.
6. Leasing Agreements
Always have a physical or digital copy of the leasing agreement that you signed with a tenant. This is the best reference if you want to point out a certain clause in the lease, just in case you or your tenant violated the agreement.
This is why your lease contract must be very detailed in terms of rules to follow in your property, tenant responsibilities, landlord responsibilities, money matters, and consequences of violation.
7. Camera
An actual camera or your smartphone’s camera is very useful to have with you at all times so that you can record damages or violations by taking photos and videos. Photographic evidence can back up your report in case your tenant or insurance company questions your claims.
You can also send the photos of the damage to the appropriate service provider so that they can have an initial evaluation of what needs to be done before they go to your property.
Have all these items in your possession as much as possible to save you time and money. With this level of preparedness, you can proudly market your listings on Padleads because you know that you can be the best landlord to your future tenants.