Role a Realtor Plays
As a landlord, you have the ultimate responsibility for getting your rental units occupied. As you are trying to fill a vacancy, you now instantly play the role of a Realtor. Such as supervising the advertisement of your rentals, set meeting with future tenants to inspect the rentals and set available time to personally demonstrate the rentals.
Landlord as Salesperson
In your desire to attract tenants to transfer to your units, you will also serve as a salesperson. You must exert full efforts in marketing your property. Use marketing strategies, as well, on how to convince tenants to find your unit more desirable to live at.
Landlord as Detective
Whether you like it or not, you will be forced to play the challenging role of a detective in your pursuit of trying to select the right tenant for your property. You need personal information about the tenant through a snap conversation to their former landlords, their employers and by running a credit check. Other things to be considered are: the attitude of the tenant on paying on time, relationship with neighbors, signs and abides for a long term tenancy (at least a year), observes cleanliness, and avoids complaining all the time. So that out of these gathered information you can now welcome a good occupant. Also, you act as detective when handling tenant disputes as you need to investigate the truth behind the misunderstanding. In times of maintenance problem, the role of detective again intervenes, as you search for the root cause of the problem. If you have a roof leak and no noticeable roof damage you look for ways to determine where the leak is coming from.
The Role of Landlord as a Negotiator
At times a landlord can also be a negotiator. Sample of which is when a landlord hires an outside contractors and repairmen. He tries to negotiate the cheapest reasonable price and even convince the person to arrive at the quickest possible time.
It also applies if a landlord has several units, they must negotiate when buying items or materials to get the best price for buying in large volume. For instance, a landlord gets big discounts if he buys six toilet bowls from any store. They must also negotiate whatever contract they sign, be it the terms of a lease with a tenant, a bank credit, a house repair agreement, or a contract with an electrician to hardwire smoke detectors.
The Role of Debt Collector
Another function a landlord must play is that of a debt collector when they collect rent from their tenants every month, but intensifies especially when tenants do not pay on time or does not pay at all. The landlord is then forced to charge late fees or file to evict the delinquent tenant.
Landlord as Repairman
In rare cases, a landlord obliged himself to learn basic home repairs. This is in anticipation to their tenants request for emergency repair whenever something happens on any parts of their house. He will be called to attend to broken window glass, replace blown out bulbs, fix malfunctioning faucet and broken home furniture.
Practically speaking, knowledge on basic home maintenance repair helps a landlord from spending too much money in hiring plumbers or other repairmen for a task you yourself can fix, such as broken doorknobs, leaking faucet and even clogged toilet bowls. In this regard they are able to save lots of money, time and efforts.
A Counselor Landlord
Oftentimes a landlord and their tenants create a bond that makes the former a therapist and at the same time a counselor. Tenants will often disclose very confidential and personal issues. They will call you at the most unexpected time in a state of horror because they saw unidentified mysterious man standing outside their house. Some will suddenly cry on you asking for the extension of rental payment because they need to prioritize something.
Unknowingly, you are now playing the role of a therapist or counselor as you try to pacify and work out a solution that would be of an advantage to both of you.
The Role of Supervisor
Becoming a landlord will also require an individual to turn into a supervisor or watchdog. To ensure the satisfaction of your tenants and make sure that your property gets the proper care that it deserves you need to take the role of an efficient supervisor. You will be required to offer your tenants a clean, peaceful and a safe environment to live in. You also have to do some preventative maintenance to upkeep the condition of your home and keep your occupants satisfied.