1. Fix Stuff Fast (And Don’t Be Cheap)

This seems obvious, but owners fight us on it constantly. If the AC dies in July, you fix it. You do not wait two weeks to save $50 on a quote. Making a tenant sweat destroys trust. If you fix it fast, they will take care of your property. Deferred maintenance always costs more in the long run.

2. Communicate Clearly

This is where most landlords fail. You don’t have to say “yes” to everything, but you have to answer. Ghosting a resident is the fastest way to get a bad review. Even if the answer is “I am still waiting on the part,” just tell them. Silence makes people crazy.

3. Be Reasonable

If a resident pays on time and wants to mount a TV, let them. If they want to paint a wall and promise to prime it back, say yes. Stop quoting the lease like it is the bible for minor stuff. Treat them like adults, and they will act like adults.

4. The 80/20 Rule

Accept that 5% of your tenants will cause 80% of your work. You know the ones. Deal with them firmly, but don’t let them burn you out on the 95% who are just normal people trying to live their lives.

5. Follow Through

If you say maintenance will be there Tuesday, make sure they are there Tuesday. Trust is hard to build and easy to lose. If you can’t make it, tell them why immediately.

6. Screen Like Your Life Depends On It

The most expensive mistake you can make is letting the wrong person in. Credit score matters, but rental history matters more. Call previous landlords. Verify income. Do not rush to fill a vacancy if the applicant feels wrong.

7. Never Accept Cash

Always have a paper trail. Use an online portal for rent collection. Cash gets lost, stolen, or disputed. Digital payments protect you and the tenant. It also makes accounting for taxes much easier.

8. Know the Law (NYC is Strict)

New York City has very specific rules about security deposits, heat season, and eviction. Ignorance is not a defense in housing court. Read the NYC Tenant Rights Guide. Staying compliant saves you thousands in fines.

9. Document Everything

If it isn’t written down, it didn’t happen. Keep records of every repair request, every text message, and every receipt. Take photos before a tenant moves in and after they move out. This is your only defense in a security deposit dispute.

10. Inspect Regularly

Don’t wait for a tenant to call you. Do a walkthrough every 6 months (with proper notice). Change the air filters. Check for leaks under sinks. Catching a small drip now prevents a ceiling collapse later.

11. It’s Business, Not Personal

Do not get emotional. If rent is late, send the notice. If they damage the floor, charge the deposit. Do not get angry, and do not get too friendly. Maintain a professional distance. You are a business owner, not their friend.

12. The Property is the Product

You are selling a product (housing). If the product is dirty, broken, or outdated, you cannot charge a premium price. Invest in curb appeal. Keep the hallways clean. A well-maintained building attracts better tenants.

13. Reward Good Behavior

If a tenant pays on time for a year, send them a small gift card or offer a free carpet cleaning. A small gesture goes a long way. It is much cheaper to keep a good tenant than to find a new one.

14. Have a Plan B

What happens if the boiler blows up at 2 AM on Christmas? Do you have a plumber who will answer? You need a list of emergency contacts ready before the disaster happens. We have a 24/7 network of pros.

15. Know When to Outsource

This is the most important rule. If you are too busy to follow rules 1 through 14, you need to hire a manager. Trying to do it all yourself when you are overwhelmed leads to mistakes, lawsuits, and lost income.

Scenario 1: The “Late” Rent

Problem: A good tenant is 3 days late for the first time. Solution: Reference Commandment 3 (Be Reasonable). Waive the late fee this one time as a courtesy, but remind them of the policy.

Scenario 2: The Noise Complaint

Problem: Tenant A says Tenant B walks too loud. Solution: Reference Commandment 4 (80/20 Rule). Is this a real issue or a “crazy 5%” issue? Check if there are rugs. If it’s normal living noise, politely explain that apartment living involves some sound.

Scenario 3: The Hidden Leak

Problem: Water bill spikes, but no one complained. Solution: Reference Commandment 10 (Inspect). Go in and check every toilet flapper. A $5 part can save you $500 in water bills.