The Insider Tips to Build Good Landlord Tenant Relationship
Being a landlord, you always wish to have tenants that will take care of your property and pay rent on time. Such tenants are a boon for landlords and you wish to retain such tenants on your property for long. For a long term association, you should take all your responsibilities as landlord. And, be able to build a good landlord tenant relationship with them. Generally the resident who gets good services and better experience with landlord can stay for more than 3 years on the same property.
In order to build a good landlord tenant relationship, you must treat your tenants well and keep them away from problems during their stay. A pro landlord understands the importance of having good tenants. They know exactly how to retain them to stay longer on their property. The tenant is the king of your rental business. Treat him well and you will keep on growing your business. The tenants who got better service and a good overall experience will always stay long.
10 Insider Tips to build Good Landlord Tenant Relationship
Your tenants are not looking for a landlord who only cares about having rent on time. The tenants need a landlord who can listen to their problems and can act on them in time. You have to be compassionate with your tenants and handle them like the fellow residents. To build a good landlord tenant relationship, you can follow the insider tips by the Pro Landlords.
1. Set up a System
It is really important you set up a system to run your landlord business. A system lets you operate in a set way and you will able to serve your tenants well. In a system, you screen prospective tenants to ensure good tenants on your property. You set up a rental agreement, document move in and out condition, open up a separate security account and other important things in this regard.
Your business operations become transparent which is something your tenant always appreciates. Having a system lets your tenants get a reflection of your business and they will know what kind of after sales service they can expect. Also, a systematic approach in business will help you improve your service and you can offer a much better environment to your tenants. A better environment and a maintained place are sure to boost a good landlord tenant relationship.
2. Set Tenant`s Expectations
You are in a business and your clients require good client services from you. Tenants have expectations from their landlord and being a good landlord, you must fulfill their expectations. To keep a good landlord tenant relationship, you should set your tenants expectations right the day they rent your property. Otherwise, they expect you to go beyond boundaries even if it is out of your arena. Failing to fulfill their expectations the way they have assumed; they may start searching for new options.
To have the tenant`s expectation in the right place, you should clearly inform them about their responsibilities. You must also tell them when you can be held responsible. What responsibilities as a landlord you are going to fulfill. The tenant should be informed about the complete system of how to do a certain thing on your property. It can be raising a complaint, giving a suggestion, or having concerns. They must know how and who to contact in such cases.
3. Help them settle down
Every tenant appreciates if they get assistance in setting down at your property. Your tenant may be a complete new person to this location. He may not have any idea about the area and the locality. In such cases, he does need some assistance in setting up at his new accommodation. You can become a helping hand in this case and initiate your first step in building a good landlord tenant relationship. Never hesitate to go a little extra for your tenants as it will only reward for your landlord business.
Assist your tenant in knowing the place and introduce him to the neighbors. You can show him the local grocery shop, recommend the nearby eat out places. And, can suggest some useful tips to settle at your place easily. Having such a helping landlord, your tenant will only be going to appreciate your efforts. You not only build a good and long term association with this tenant. But, you are also ensuring a smooth business with him in future.
Communication is a two way process. To build good landlord tenant relationship, both landlord and tenant should be able to communicate with each other easily. Being a landlord, you must communicate your tenants your will to serve them the right way. Your communication should be in a way that expresses your ability for tenant to depend upon you for rightful needs. The tenant must know that things are not only inked on agreement but you will perform your duties when needed.
Two way communications always keep both the landlord and the tenant happy and free from harms. Good communication keeps your tenants truthful about any negligence or damage done by them. They will treat you and your property well. Also, they can become your eyes and ears if they detect a potential problem in your property. Furthermore, having a good landlord tenant relationship; your tenant can open up about rough times financially or mentally. And, you can then stay proactive.
5. Act on Concerns in time
A good landlord understands the importance of acting on the concern of their tenant on time. If your tenant has raised a concern and needs a repair, you need to have it fixed in reasonable amount of time. Your tenant is paying you rent on time. So he has right to have a peaceful stay at your property. The things do go bad and are subjected to normal wear and tear. As a landlord you must take care of those things and get them repaired in reasonable time.
Being a landlord, you should be courteous enough to listen to your tenants when they raise a concern. Empower your tenants by making a system for raising complaints and requests. You can ask them to give you a written complaint if they ever arise to any issue. This ensures a right timeline for you to act and for your tenants to get their problem solved. This way your tenants get the support they deserve and a good landlord tenant relationship will build eventually.
6. Respect their privacy
Respecting the tenant privacy is must to ensure a good landlord tenant relationship. Your tenant is not going to like you to be on their door every time. Sure, you also don`t like to intervene in their privacy. But you have to keep your property free from damages. You constantly stay concerned about the tenant`s friends who come and stay with him. You are concerned of any damages that they can do to your property. But in any case, you need not to hinder their privacy.
The thing you can do is to set up a system for you to enter the rented premises. Your tenants will appreciate if you show up by giving a proper written notice a day before you show up. They respect your efforts if you tell them prior about the service person who is visiting to them the next day. These small things matters most and putting notice on these small things can build a good landlord tenant relationship.
7. Send Itemized Bills
A landlord tenant relationship can quickly sour if your tenant feels they are getting duped. Being a good landlord, develop a habit of sending an itemized bill to your tenants. The bill should clearly indicate the charges incurred on the tenant. Being a landlord, you can charge them for defects caused by them or by their guests. And, if you are charging them; send them an itemized bill. The itemized bill should contain the description of the repair, the amount due and the due date of the payment.
Furthermore, if tenants are paying for the utilities directly to you instead of authorities; you should keep the written records of the usage. And, then send an itemized bill of the usage to the tenants. This ensures transparency and you can avoid any future conflicts between both of you. Because having conflicts even on small matters can cause a vacancy and can put additional costs. Also, if tenant always gets an itemized bill, he will have full clarification and likely to pay on time always.
8. Reward Them
Rewarding your tenants is a good way to show empathy towards your tenants. Your tenants will get a sense of care and concern by their landlord. There is no way better way than rewarding your tenants to kick start a good landlord tenant relationship. It is always advised to appreciate and reward the good tenants on the property. The tenants who get a reward occasionally tend to stay longer and keep your property in a much better condition.
The best reward you can give to any tenant is by creating a good community atmosphere among the residents. An atmosphere where each resident feels connected and wishes to help others during times. Reward your tenants for timely rent payments, abiding by rules or for keeping your property harm free. A gift card, a movie ticket or a little deduction in rent payment all comes under rewards. Even if you only appreciate them personally, that can do wonders for your association.
9. Personal Touch
Personal touch is very important for any business if they wish to grow and grow. The landlord business is no different. You tenants want a personal touch. They want their landlord to communicate to them personally instead of just getting a mails and messages. The technology do has got advanced. You are more likely to communicate over mails and not personally. But this can prevent you from developing a good landlord tenant relationship.
Personal touch is all about emotional experience and who can better understand it more than humans. The key to personal touch starts from putting yourself in the shoes of your tenant. Once you are able to apply emphatic intelligence, your tenants will become loyal customers in your business. You can add personal touch in the life of your tenant by simplifying things for them. You can act on tenant`s complaints on time, help them settle down, and communicate them in regular intervals.
10. Take Suggestions
Empowering your tenants by giving them the power to suggest gives you the upper hand in the business. Your tenants will feel valued and more attached to the association. Taking their suggestions not only improves your rental business but you will build a good landlord tenant relationship with them. The customers who get valued will stay loyal and even become direct marketers of your business.
Having suggestions from your tenants can help you provide a personalized service which can outshine you from the competition. Furthermore, a suggestion means your tenants require a certain solution to their problem. And, you can quickly grab this opportunity to enhance the tenant`s overall experience of staying at your property. Also, having able to satisfy your tenant`s wants means improved customer satisfaction and increased business performance.
The Bottom Line
A Landlord Business is all about providing a best in class service for your tenants. Ensure they have a delightful and an uninterrupted stay at your property. Doing so, you will be nurturing your landlord tenant relationship which is ultimately going to benefit your rental business in long run.