Working out the right rental price for your property is one of the hardest decisions you’ll have to make as a landlord in property development. You want to make your investment worthwhile, but charge a price that is still attractive to potential tenants.
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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.