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  • Hi, I'm Damon Thompson, I've been a landlord for over ten years and I have five multi unit

  • buildings. This is how to be a good landlord. The first step in being a good landlord is

  • knowing your rights legally. So what you need to do is speak with an attorney, you want

  • to find out what your state and local regulations and tenants rights are so you want to make

  • sure that you protect yourself properly and you protect your property. The next thing

  • you're going to want to do is draft a lease. You want to make sure that this lease can,

  • is complete and has everything involved. The next thing you want to do is draft a clear

  • lease outlining everything. You want to make sure that everything is involved, the property,

  • what's involved, what you expect from your tenants, what you in turn the services you're

  • going to give to your tenants in terms of maintenance and upkeep, you want to make sure

  • that all of this is spelled out clearly and concisely in your lease agreement. After you

  • have this lease agreement filled out, you want to make sure your attorneys looked at

  • that too in case there's something that you might have missed, you want to make sure that

  • that lease or rental agreement is very clear. The next thing you want to do with your new

  • tenant is make sure you keep the lines of communication open. You want to make sure

  • you have a good way of your tenants reaching you in case of any problems or any concerns

  • and vice-versa. You want to make sure you have a clear way of contacting them in case

  • you have any concerns or you need to contact them regarding something, say you're going

  • into the property to do some type of maintenance, you want to make sure that they know what's

  • going on. The lines of communication need to be open. The next thing you need to do

  • to make, to be a good landlord is maintain the property. You want to make sure the upkeep,

  • you want to make sure that it is safe, you have smoke detectors, fire extinguishers,

  • whatever the codes are you want to make sure that the house is up to code, you maintain

  • the property and the final thing is, you want to make sure you have a safe and organized

  • collection policy, rent collection policy. You want to make sure if they're mailing it

  • on the first of the month, if you have a PO Box, or if you're going to be picking it up,

  • you want to make sure that whatever it is you understand and or more importantly that

  • your tenant understands and you guys do the same thing every month. It needs to be consistent.

  • I'm Damon Thompson and that's how to be a good landlord.

Hi, I'm Damon Thompson, I've been a landlord for over ten years and I have five multi unit

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