If you rent an apartment instead of owning a house, you pay rent every month to your landlord. While you may talk to this person regularly or only interact when it’s time to make a payment, you may wonder what landlords do.
Run the Building
People such as Steven Taylor landlord are the owners of each apartment or other rented property. As a result, they have to make sure that the building stays functional. For example, the elevator must operate and tenants’ keys must work to let themselves into the building without leaving the doors unlocked. Many apartments also have a general laundry room in the basement, and it is the landlord’s responsibility to make sure that broken machines are fixed and that tenants abide by the rules. Landlords also must take responsibility for any mortgage fees associated with the building, since they own it.
Maintain Individual Units
In addition to being responsible for common areas in the apartment, landlords also must maintain the safety and livability of each unit. Depending on the terms of your rental agreement, you may have to pay for repairs when you damage or break part of your apartment. However, the landlord probably has to call a repair company and oversee the transaction, since he or she is the one who actually owns the damaged property.
While some apartments quickly fill up and do not experience many turnovers, other landlords must actively advertise their buildings. If there are too many vacancies, the landlord may not be able to keep up with the cost of running the building. As a result, landlords must advertise their apartments in newspapers, online and through any other types of media available.
Landlords’ most visible task is collecting rent money. However, they have many more jobs to complete to ensure that their apartments are functional.