{"id":9323,"date":"2018-02-22T13:34:45","date_gmt":"2018-02-22T12:34:45","guid":{"rendered":"https:\/\/www.tolet.com.ng\/blog\/?p=9323"},"modified":"2018-09-18T16:55:16","modified_gmt":"2018-09-18T15:55:16","slug":"first-time-landlord-tips","status":"publish","type":"post","link":"https:\/\/propertypro.ng\/blog\/first-time-landlord-tips\/","title":{"rendered":"First-time landlord tips"},"content":{"rendered":"

Congratulations on your new status as a landlord in Nigeria<\/strong>. As a landlord, you will have to navigate through the deep waters of payment of rent, tenants, legal issues, house maintenance and many more. Below are practical first-time landlord\u00a0tips<\/strong> to make the renting process easy.<\/span><\/p>\n

Be Logical<\/b><\/h2>\n

\"First-time<\/p>\n

Try to separate your emotions completely when choosing tenants.Although your conscience may feel better offering your property to someone who lost their source of income, at the end of the day you need to remember that you\u2019re running a business. Never let personal relationships cloud your view of the bottom line. Emotions don\u2019t pay the bills- be logical.<\/span><\/p>\n

DUPLEX FOR SALE IN LEKKI PHASE 1<\/span><\/a><\/p>\n

Screen Tenants Properly<\/b><\/h2>\n

\"First-time<\/p>\n

Screening tenants is a major issue. You need to be objective and verify your tenant\u2019s financial capacity as this will be a deciding factor if the tenant will pay his\/her rent on time or behind on rent payment. Do not rent your house to someone just because they come recommended by your friend. Never take the explanation or recommendation at face value but carry out your own research first.<\/span><\/p>\n

Also to focus on how a prospective tenant communicates with you throughout the renting process as this will serve as a pointer to what kind of communication they will have with you as a tenant. Don\u2019t rush your decision. Look for people that are open, honest, and who possess the financial capacity to pay rent on time<\/strong>.<\/span><\/p>\n

MINI FLAT FOR RENT IN OGBA<\/span><\/a><\/p>\n

Rent Payment<\/b><\/h2>\n

\"First-time<\/p>\n

Rent<\/strong> is your revenue as a Landlord. Never allow the tenant to pay late without penalty. Ensure you agree in writing to a monthly or yearly payment plan. If you allow your tenant to pay late, it may lead quickly to a pile of unpaid rent.<\/span><\/p>\n

Also, if your tenants just stop paying rent and starts ignoring your calls or texts, you need to start eviction proceedings immediately. Contact your lawyer about eviction proceedings<\/strong>.<\/span><\/p>\n

2 bedroom flat for rent in Port Harcourt<\/span><\/a><\/p>\n

Manage Your Rented House As A Business<\/b><\/h2>\n

\"First-time<\/p>\n

Don\u2019t be overly friendly with your tenants instead have a business- like relationship with your tenants. A friendly relationship between the landlord or tenant tends to sour quickly especially when the tenant\u2019s rent is still unpaid or when you are trying to increase the former rent value. Treat your tenant with respect as you would a business colleague.<\/span><\/p>\n

2 Bedroom Flat For Rent in Abuja<\/span><\/a><\/p>\n

Know The Housing Laws<\/b><\/h2>\n

\"First-time<\/p>\n

Many landlords failed to educate themselves on housing laws<\/strong> which often time leads to serious implications if you violate them. Every property is governed by a specific set of landlord-tenant laws established by the government of the state. Landlord-tenant laws are state laws that will protect the owner, the property and the tenants alike in all forms of rental transactions. <\/span><\/p>\n

If you have yet to check out the landlord-tenant laws<\/strong> in your state, you will find that there is a rule for almost every scenario that could arise between a landlord and tenant interaction.<\/span><\/p>\n

Failing to follow landlord-tenant laws<\/strong> can result in a lawsuit and lost income. \u00a0It is advisable to have a lawyer manage your legal dealings and explain your rights as a landlord, your tenant rights and the tenancy laws that operate in your State of residence. Remember, ignorance is not an excuse in the court of law, so get informed.<\/span><\/p>\n

MINI FLAT FOR RENT IN SURULERE<\/span><\/a><\/p>\n

Rent Oriented<\/b><\/h2>\n

\"First-time<\/p>\n

Never invest in any form of renovations or remodeling if it would not generate higher rent. The giddiness that comes with be a first-time landlord is spending a lot of money on your house. There is nothing wrong with remodeling but if it does not directly cause an increase in rent value then don\u2019t spend it instead of saving your money.<\/span><\/p>\n

Houses for RENT IN Asaba<\/span><\/a><\/p>\n

Be Organized<\/b><\/h2>\n

\"First-time<\/p>\n

A peculiar mistake made by first-time landlords is not keeping records. If you don\u2019t keep proper records of your building\u2019s revenue and expenses it will affect your ability to ascertain the exact cost spent or received from your property.<\/span><\/p>\n

Kindly share your first experience has a landlord with other PropertyPro<\/strong><\/a> readers.<\/p>\n","protected":false},"excerpt":{"rendered":"Congratulations on your new status as a landlord in Nigeria. As a landlord, you will have to navigate…\n","protected":false},"author":24,"featured_media":8965,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_custom_appearance":"","csco_disable_excerpt_posts_layout":false,"csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[38,30,467],"tags":[2278,2275,2281,2276,2280,2277,2279],"class_list":{"0":"post-9323","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-articles","8":"category-ask-us","9":"category-real-estate-advice","10":"tag-dos-and-donts-of-being-a-landlord","11":"tag-first-time-landlord-checklist","12":"tag-first-time-landlord-questions","13":"tag-first-time-landlord-tax-return","14":"tag-landlord-tips-and-tricks","15":"tag-things-to-know-before-becoming-a-landlord","16":"tag-what-to-do-for-first-time-landlords","17":"cs-entry","18":"cs-video-wrap"},"_links":{"self":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/9323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/comments?post=9323"}],"version-history":[{"count":3,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/9323\/revisions"}],"predecessor-version":[{"id":11127,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/9323\/revisions\/11127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media\/8965"}],"wp:attachment":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media?parent=9323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/categories?post=9323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/tags?post=9323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}