Is your landlord association a valuable resource or a waste of money and time? Find out the answer and learn how to choose the perfect landlord tenant association.
Just because you're a landlord doesn't automatically mean that you should sign up as an association member. Sign up only if you find the membership benefits helpful.
Some landlords have a passive and hands-free approach when it comes to managing their rental properties. They tend to treat their rental properties just like any other investments such as shares and other paper assets. They also prefer hiring property managers to run their property to avoid doing it themselves.
There are also landlords who are more casual and don't really see the need to keep their rental properties in tip-top condition or manage their tenants professionally. For example, you may be just renting out the spare room in your room or you own a vacation house that doubles up as a second home during the summer holidays.
If you belong to the two camps above, then an association doesn't offer much value for you. In additional, not having to pay membership fees also helps to cut down on your expenses.
On the other hand, being an association landlord can be beneficial if you are passionate about managing your tenants and rental property well.
The support and helplines offered by a well-established associations can be valuable if you are managing matters by yourself and run into problems. Whether it's burst water pipes or tenants abandoning your property, you will be able to turn to the association's contacts and expertise for solutions.
Since most associations send out regular newsletters, being an association member is also an easy way to stay up-to-date on the latest landlord news and issues in your area.
Just like everything in life, not every landlord tenant association is created equal. What separates an excellent association from an average one is the quality of their information and services.
Remember a worthy association will always place your needs first while shady associations are just out to make a quick buck off membership fees.
A good association should always provide a chat helpline or at least an email support in case you need to contact them urgently. Before joining any associations, it's a good idea to test their customer support with a few tough questions. Do they reply quickly with helpful answers or are they a total slop?
Next take the time to review the association's guides and recommendations. Are their advice and services updated and helpful? Are their group discounts genuine offers that is impossible to find elsewhere or are those just crude marketing gimmicks?
Here's a handy tip if you want to become an association landlord - You can try asking for a one month trial to try out their services. If they're sincere in having you as a member, they are likely to agree to it.
Before You Join Landlord Associations Not rated yet
Before you join a landlord association, ask yourself this question: "Am I getting real value for my money?" Sit back and weigh the benefits of your membership …