Rental prices often depend on the area the home is located in; however, some landlords will jack up the prices to make the most and re-invest in either themselves or bigger rental homes. That said, there’s something nice about being the landlord to make a difference in the lives of small families. How? By offering affordable rental homes that are both clean and nice, but still below the averaged rental prices in the area.
It can be hard to know the circumstances of anyone and their family, but you should strive to help and improve the lives of someone and their children when you can.
Small Families Often Struggle in the Beginning—Ergo, an Affordable, Nice Rental Home is a Helpful Investment
When you encounter a small family, especially one with young children, you can rest assured that they have probably had their fair share of hardships and might need a break. This is where you could be a bit generous with a nice, affordable, comfortable rental home. One that allows this small family to flourish and succeed. Their gratitude is often repaid in timely payments and zero tenant issues.
Be the Kind of Landlord that Allows Décor Changes [Within Reason]
Some rental properties disallow or strongly discourage changes to the interior décor of their homes. However, there’s nothing wrong with a few painted walls if it means you have positive, well-paying tenants at the end of it. Within reason means natural colors, like light blues or neutral browns. Ask that your tenants stay away from colors that could deeply stain your walls, like black, heavy red, or orange.
For Some, Affordable Rental Homes Could Be the Difference Between Being Homeless or Being Thankful
Sometimes small families fall on hard times and need a leg up without too much question. As a landlord, you can be both compassionate and fair without allowing people to take advantage of you. Most small families going through hardships are simply thankful for an affordable rental home, as the alternative for them might be homelessness. Have a heart.
Tip: You can make it easier on small families while still making a profit off of your rental home by bundling the utilities, like city water and e-waste Toronto, in an all-inclusive package.