The importance of a good relationship between property owners and tenants cannot be understated. A positive relationship with a tenant increases your chances of renewing the lease and avoiding a vacant property.
If you are a landlord, you should strive to ensure that you nurture a good relationship with your tenants. This will go a long way in improving your property business. The type of relationship that you share with your tenants could make or break your investment.
In the article below, the team at Windermere Property Management will go over the 9 best tips to help you and your residents remain on the best of terms.
1. Respect your tenants’ privacy
As a property owner, you should ensure that you respect your tenants’ boundaries and private spaces. As a landlord, you have the right to access your property and conduct various tasks as required but this is often applicable to the common areas in the building.
There are instances when you may have to access a tenant’s private space, but this requires prior communication and the tenant’s consent. If you require to make some repairs in a tenant’s space, the use of a notice is the legally applicable and courteous option. The time of entry must be an appropriate and convenient time for such an activity.
The only exception to prior communication would be in case of an emergency such as a natural disaster, fire, or gas leak. Showing respect to your residents may greatly improve your relationship as your tenants will feel respected and appreciated.
2. Focus on communication
Communication between a landlord and tenant is critical. Having effective and proper communication can help build or strengthen the relationship between a landlord and his tenants.
Some ways to achieve better communication with your tenants are:
- Do not assume, simply ask on issues that you may not be entirely sure about.
- Remember to respect your tenants’ boundaries and time. Do not call at odd hours of the night unless there is an emergency and always notify the tenant before coming to their spaces.
- As a business, it is best to have all communications in writing. This makes it easier to follow up on issues as well as for future reference.
You should have channels where tenants can easily reach you. This could be via email, phone call or text message. Ensure that your tenants get a response as fast as possible. This will help also improve the relationship between you and your tenants.
3. Be fast and reliable
Once you receive a complaint from a tenant, ensure that the issue is resolved in the shortest time possible. A prompt response is very essential so make sure that your tenants are always attended to. If a tenant makes a complaint or request for repair, make sure that you follow through until the repair is done.
However, sometimes repairs may be delayed due to some unavoidable circumstances. Ensure that you keep your tenant in the loop about the process. Oftentimes, the tenant will understand. Bottom-line is to make sure that issues and resolved as soon as possible and to always communicate. This will work to improve your relationship since the tenant will always know that you have their welfare in mind.
4. Understand your business
Before you sink your funds in any investment, you are encouraged to do your due diligence on it. You should research into the goings-on, challenges, legal implications and what not. The real estate business is no different. We recommend you spend ample time learning about the business.
This will build you knowledge on the subject matter and allow you to offer quality service to your tenants. Don’t simply rely on the terms and obligations of the lease agreement.
5. Draft a thorough lease agreement
They say prevention is better than cure. It is therefore helpful to screen your tenants before they occupy your space and have them go through the lease document. Explain the requirements of the building in detail to ensure that they are informed of their duties and responsibilities.
You could use this opportunity to notify them of the proper communication channels to use in case of any issue or suggestion. During this time, you are also able to initiate a relationship with your tenants. Always be polite and patient with your tenants. Avoid using harsh language or scolding them as it may ruin the relationship from the get-go.
6. Set a fair price
The amount of rent charged in a building could play a part in the relationship between the landlord and their tenants. Ensure that you set a fair amount of rent and avoid exploiting your tenants. It might be prudent to hire the services of an experienced property manager to help you set an appropriate rental amount. Windermere Property Management is only a call away.
If there are any additional costs, make sure to inform the tenants before implementing the charges. Abrupt increase of rental charge or any other additional charges in property could lead to disagreements. It is therefore wise to discuss with your tenants before you levy new charges.
Make sure that you are honest and transparent in the manner that you handle your building finances. Make sure that all payments are well recorded to avoid disagreements. Matters regarding finances should always be handled with care since it is a sensitive matter.
7. Be polite
Remember to always treat your tenants with respect. Your tenants are just like your business partners so ensure to always be polite and kind to them. Tenants help improve your investment by marketing it to potential tenants. Additionally, being polite keeps you on the right side of the Implied Covenant of Quiet Enjoyment.
8. Prioritize property maintenance
To avoid frequent complaints from tenants, make sure that your property is always well maintained. Having a clean and functional property improves the image of the property even to other potential clients.
9. Hire a professional
Hire a property management company to carry out all the management activities and take off some of these responsibilities off your back. Hiring a property management company will enable you to focus on other tasks that may require your attention. It also helps free your time which you could use to expand your investments and spend time with the family.
The Bottom Line
Look for a trusted management company to help you run your property investment. In the Spokane region, reach out to Windermere Property Management Company. Our reliable property management services are unmatched in the region.