Today we are borrowing from Shakespeare and asking: To be, or not to be? Before you decide whether or not to become a landlord in Santa Cruz, it might help to know what kind of personality characteristics are required in order to be good at the job.
The best landlords are organized. When you are going to manage tenants and rental property, you need to have systems in place that dictate how you will deal with things. This is essential so your owners and tenants feel secure and know you will have a process in place that allows you to handle any problem, no matter how big or small.
Patience is absolutely required in landlords. You can be sure that on a Friday evening of a three day weekend, while you are getting ready to go out of town, your tenant will call with a plumbing emergency at the property. You’ll need to be prepared to deal with this before you start your vacation. It helps to have your vendors in place. When they are lined up, a simple phone call will ensure your tenant is getting the necessary help and your weekend plans are not terribly delayed. You do need the patience to always be available.
As a landlord, you will have a long term relationship with the tenant who lives in your property. It’s not like a sales deal, where you spend 30 days together selling a home and then maybe you’ll see that person again a few years down the road if they decide to sell. Landlords need to be able to establish and maintain professional relationships with their tenants that are built on respect and communication.
It’s important to know your laws and to educate yourself on the requirements of being a landlord. You can get into a lot of trouble if you aren’t aware of the legalities involved in taking care of rental properties.
If you are patient, organized, able to build relationships and willing to learn the laws associated with property management, you’ll probably make a great landlord. If you have any questions or need any further information, please contact us at Portola Property Management.