All landlords and tenants aspire for a healthy relationship, marked by goodwill, professionalism and decency. Sometimes, entering such a relationship is effortless, particularly when both landlord and tenant are eager to fulfill their responsibilities. However, when both parties fail to find a common ground to negotiate and settle their concerns, the relationship turns sour.
Maintaining a healthy and good relationship isn’t easy. It demands effort, consistency and goodwill on both sides. The landlord always sets the tone for a respectful relationship with their tenants, and there are various tricks and strategies to find common ground. Keep reading to explore tips that will help you build healthy relationships with your tenants.
Emphasize your Values & Goals
What are your values and goals as a landlord and property owner? Do you need timely rent payments? Or perhaps, you seek tenants who can look after your property like their own? It’s crucial to communicate your goals and values with all tenants and applicants.
You see, tenants don’t want to be reduced to a monthly rental payment. But rather, they want to feel significant to their landlord. You must emphasize your values of trust and compassion by showing your concern towards their well-being and comfort. You must actively try to build loyalty and trust, and find ways to improve their life quality.
Be Upfront about your Expectations
Ambiguities and confusions create grounds for complications and communication errors. It’s crucial to be upfront about your expectations, and regard your engagement with tenants as a relationship. We strongly advise tenants to maintain open communication, and be upfront about your expectations from day one.
It’s essential to undertake adequate screening processes to find a decent and reliable tenant with income stability and long-term plans. You will also need to establish a robust property management system to ensure their safety and comfort.
Maintain Active Communication
Running a rental property is much like running a business. Just like entrepreneurs maintain active and regular communication with their clients/customers, landlords must communicate with their tenants regularly. Do you have a habit of checking on your tenants to see if they need anything or inquiring about their well-being?
Regular communication with your tenants will help you understand their plans with regards to work, living in the neighborhood or their family. Communicating frequently will help you identify problems and solve before they turn into expensive and potentially damaging hazards. It’s wise to communicate with tenants using various communication channels.
Most landlords only rely on written communication, primarily emails and text messages. It’s essential to maintain records in the form of emails and written notices, however, you must also visit them in person. Be sure to build rapport with friendly banters over the phone, and if the relationship is thriving, you can also invite them over for dinners and BBQs.
Schedule your Visits
Visiting your property regularly is essential to ensure timely inspections, and to build healthy relationships with your tenants. In-person communication will help you manage your rental investment, and build credibility with your tenants. For instance, visiting your tenants can introduce you to a plumbing issue or a leaking tap. It may be a minor issue, but a quick fix will save you hundreds of dollars, and build a reliable image.
Just be sure to schedule your visits in advance. While some states and local regulations allow landlords to make surprise visits, others do not. It’s wise to check the state and local laws with regards to visiting the rental property before you plan a visit.
Exceptional Customer Service
Customer service is the beating heart of all business enterprises, and rental property management is no different in this regard. You see, your tenants are your customers, and you must take care of their needs, comfort and security. There’s something magical about giving people respect and esteem, for it revolves around the human psychology of reciprocation.
Humans are likely to reciprocate for all small and significant gestures of kindness, goodwill and respect. Treating your tenants with respect and dignity will earn you their respect and loyalty. Healthy relationships are mutually beneficial, and will help you eliminate the hassle in the long-run.
Remember, your tenants may be a rent check, but they are people with their own live paths, dreams, challenges and goals. Once you start viewing them as people with their own stories, you have a better chance at building connections and embarking on a lasting relationship.
Remember: It’s their home too
As a landlord, it’s sometimes hard to remember that your property is the home of another individual or family. You may be the property owner, but as per the rental agreement, it’s your tenant’s home. We all harbor sentimental ties and love for our homes, and you mustn’t undermine your tenant’s relationship with your property.
For landlords, the property is an investment – a vehicle to generate a passive income stream. However, for tenants, the property is much more; it’s a home that offers them serenity, security, comfort and warmth. It’s crucial to be respectful and mindful of the tenant’s ownership over the property, and request their permission before undertaking any significant changes.
Conclusion
Adopting a service-oriented mindset is the right approach to building a healthy and long-term relationship with your tenants. When you start regarding your tenants as customers/clients, it’s easier to provide them a top-notch service. You must also find ways to improve your property in order to increase your rental income and elevate the tenant’s life quality.
Adding value to the relationship is the best way to generate goodwill. Sometimes, a simple phone call to inquire about someone’s health is all it takes to get past the monetary side and start a friendship. You don’t want to be overly nice and persuasive as that would encourage your tenants to delay payments and act irresponsibly. In contrast, overly firm and strict rules will also damage your relationship.
Landlords are advised to strike a healthy balance between firmness and compassion.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
