7 - Exchange

As a landlord or property manager you are exchanging the rights for someone to use a space you own or manage for a fee and that you receive a certain fee on a specific date.

The rights of use have limits as to how, when and what the tenant can do with the property…these are the terms of the lease within conditions you agree upon in your written lease.

As a landlord one of the first considerations is “where can I get a good lease?”  Each person, landlord and property manager is different and this is based on ones perspective of life.  What is not different is this…clear expectations lead to cleared checks.  As such, as a landlord it is imperative that you take time to develop your own version of a lease that clearly states what you will and will not tolerate.

What one finds is that whatever you tolerate can open up a can of creepy crawlies into your life.  Our translation or personal perceptions can alter communications so it is best to write down on a piece of paper what you will and will not tolerate, then incorporate this into your specific property types.