Being a landlord isn’t just sitting back and watching the rent come in, in order to be successful you need to keep on top of your relationship with your tenants. The best way to begin this process is to choose your tenants wisely, once you have selected them try to maintain a good working relationship with them. Good landlord/tenant relationship makes renting much easier, means you are more likely to get paid on time, your property is likely kept in better repair and the likelihood that your tenants will extend their contract greatly increases. The longer you can keep good tenants in your property the better; a low turnover of tenant saves lots of time and money.
Here are 6 ways to build great relationships with your tenants.
1. Be Clear
Right from the outset you need to be clear with your tenants as to the expectations you have of them and vice versa, what they can expect from you. You should go through a contract with them and prepare an inventory of the property furnishings and condition for them to agree on and sign. Add your expectations and rules to the tenancy agreement and be clear and strong from the outset as to whether tenants are allowed to redecorate, have pets etc. This avoids confusion and conflict further down the line.
2. Be Available
One of the biggest frustrations for tenants is having a landlord that is unavailable and uncontactable. Make sure your tenants have a contact number and email for you that they can reach you on readily. Of course you need only answer your phone within reason, but try to be as available and flexible as you can be. This will enable you to deal with problems and repairs quickly and will keep relationship with the tenants positive.
3. Be Prompt
Don’t delay in arranging for repairs to the property, be as prompt as you can to keep the tenants satisfied and to keep your property in the best condition. When you arrange appointments remember to be as accommodating to the tenants as possible, don’t be late or try to enter the property without giving due notice.
4. Be Polite
At all times you must be courteous and polite. Treat your tenants with respect and they are much more likely to respect both you and your property. If you are struggling to maintain a courteous professional relationship with your tenants, consider using a property manager.
5. Be Flexible
Try to be as flexible as possible when working with your tenants. If you need to arrange a gas engineer, plumber or other repairs aim to work around your tenant’s availability and schedule. Don’t just assume that they will wait in for your appointments, contact them with as much notice as possible and try to find workable solutions so that the property can be maintained with as little disruption to the tenant as possible.
6. Invest
Never forget that your investment property is just that. No matter how long a contact, you must keep maintaining the property and investing in it. Tenants are much more likely to recommend you as a landlord and stay in your property if you make improvements, redecorate and keep on top of the maintenance both indoors and outdoors.
For more advice on renting out your property contact the team at Nick Fox Property Mentoring.
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