Being a homeowner and a lender is a very successful business as it ensures that a fixed amount of money is successfully put into your pocket each month. Rather than starting a shop that can fail, it is a stable business as the number of individual tenants applying for occupancy is increasing exponentially every day.
There are many homeowners who come into contact with people who rent a house or apartment. They are very successful in business and provide housing for hundreds of people every year.
One example of a successful homeowner is Freddy Abitbol from Hypotec. He is the CEO of a very successful business that provides great space for tenants. His main target for clients is a first timer who doesn’t know how to set up a mortgage and get the house of his dreams.
Freddy Abitbol is known for in-depth communication with customers and listening to all their needs before offering them suggestions on the types of housing they can choose from. We also offer a variety of products that are suitable for each individual’s financial situation.
One of Freddy’s key policies is not only to guide our clients, but also to educate them about all the processes involved in mortgages and home rentals. He also encourages customers to contact him at any time with any issues they may face. The customer can contact him by phone or send an email directly. He always welcomes questions and is happy to answer them.
People find it easy to become a landlord because all you have to do is rent the land. However, the definition of a successful homeowner is different. He has many responsibilities and many cares to keep his business running smoothly. He also needs to make sure he does things in a way that the tenants can easily do as well.
If you are planning to buy a building and build it for your tenants, there are a few things to keep in mind, listed below.
- Commitment to business: The first important thing for a homeowner is to devote himself to his business. We must strive to grow our real estate business without any setbacks. Buying a building and setting it up for tenants is a daunting task. A lot of money is invested here too. That’s why the landlord must take good care of everything so that he can get a good enough profit.
- Search for new tenants: Landlords must adopt many methods to acquire new tenants. You may use third-party services or place advertisements for new tenants. They may also use bulletin boards, flyers, signs and online sources to attract customers. You also need to determine what type of customer you want (eg office worker, college student, or newlyweds). You can change and adjust the building accordingly.
- Available whenever you need it: The landlord is responsible for all maintenance and issues around the building for the tenant. To do this, you need to set a specific time when the tenant can call if you have something to discuss. The landlord must be able to answer the tenant’s calls at that time and work hard to solve the problems the tenant is facing.
- Do not discriminate against tenants: This is the ethical responsibility of the landlord. We must provide equal services and rooms to all tenants regardless of religion, culture, race, color, gender, familial relationship, or disability. Landlords are expected to use appropriate language in advertising and communications. If you do not comply with your will, you may be dealing with local, state, and federal laws.
- Check the tenant’s background: Landlords should check the tenant for potential legal and social issues before accepting an application. Individual records should be screened to avoid future problems. Landlords are also required to verify credit cards and transactions so that tenants can pay their rent on time and comply with the rules properly. This is to ensure that the landlord does not incur financial losses.
- Contact Representative: If the landlord is not present for an extended period of time, this should be communicated to the tenant immediately so that the tenant does not have to worry. Landlords should also set up contact information for the person they trust the most so that tenants can contact them in an emergency. Transparency in communication is the best way to ensure smooth transactions between landlords and customers.
- Write an appropriate rental agreement. It’s a good idea to find a tenant that meets all your needs and is happy with the services the landlord provides. After that, the landlord must write everything down on a piece of paper. In any event, it is very important to have a lease agreement with all the requirements and regulations agreed upon by the landlord and tenant. Landlords should be very careful and discuss everything with the tenants to avoid future problems.
- Properly manage daily issues: Landlords are responsible for handling all day-to-day problems that may arise with the building. The closer he is to the building, the easier it is for the tenant to contact him in case of a problem. If the landlord cannot always stay close to the place, he can hire a property manager to handle all such cases and report the landlord accordingly.
- Renewal processing: Dealing with renewals is a time consuming task and finding good tenants is not always possible. Frequent renewals also affect the landlord’s reputation. For this reason, the lessor must work to solve the tenant’s problems and make the tenant’s life comfortable, so that a stable income stream must be maintained.
Being a good homeowner like Hypotec’s Freddy Abitbol can be difficult, but with constant hard work, good communication with customers, and dedication, it is possible.