The purpose of investing in real estate is to make money, but success in this venture is pegged on good landlord tenant relationship. The way you treat tenants will determine if your property will attract reliable and long-term customers or just attract short-term occupants. To nurture a good relationship between the two, both should keep part of their deal – the tenant should take heed of landlord advice, and the landlord should attend to clients’ needs too.
Here are a few secrets of building a good and long lasting landlord tenant relationship:
- Stating leasing conditions in certain terms
Since lease agreement is a set of conditions that both parties should observe during the contract period, all attached conditions should be laid bare before the tenant moves in. People do not take it kindly if you do not disclose everything at the beginning but start introducing new conditions afterward. To avoid this, ensure that:
- The landlord tenant agreement is self-explanatory, and the client should only sign if they are ready to comply.
- Tell them what you expect from them, for example, the amount of rental charges, and when and where to pay it.
- You disclose the condition of the property beforehand.
- You do not make false promises to lure tenants. Make only promises you can keep.
- If you have a property manager, introduce them to clients so that they can know them.
- Privacy of your tenants must be respected
Although a client is paying for the apartment, that does not mean they own the premises. Their ownership is temporary. If you are a landlord and you’re living in the same building, you should watch your space and respect the tenants rights.
When it comes to inspecting the condition of the houses, schedule the date and communicate in advance to tenants so that they can prepare themselves. No impromptu knocks on the door demanding inspections.
When scheduling your visit, be cognizant of the occupants’ work schedules to avoid inconveniencing them and while doing it, avoid being intrusive by respecting the privacy of the occupant. If you hire someone to do it, tell them the dos and don’ts beforehand and follow up afterward to ensure everything went as planned. Ask tenants if they were harassed or their rights were violated. If so, look into the matter and take corrective measures.
- Maintain your property well and fix faulty systems in time
Fixing broken items is part of the landlord responsibilities, and this should be done in a timely manner to cement your relationships with tenants. It is not only an act of goodwill but also a legal obligation. You should not wait to be taken to a tribunal for your act.
A serious landlord sets aside funds for maintaining and repairing broken facilities. The renter of your property expects all facilities to be functional just as you do. To ensure you are always in tabs with their plight, offer them a feedback mechanism or a suggestion box where they can report issues or suggest areas requiring improvement.
- Your first impression matters
When showing your property to your potential clients, be polite while responding to their concerns. You may feel disappointed for having received many clients but none is moving in, but It is advisable to treat every potential tenant with dignity as that one might be the customer you have been looking for. Their first impression you create will determine the kind of a business relationship that will ensue.
Again, once the customer decides to settle down, be friendly and provide them with all useful information like, if dealing with a student, brief them about the security of the area and if there are noisy pubs around that might interfere with their concentration while doing assignments in their rooms. But again, why should this be a bother when a student can comfortably hire a professional to assist with that? Learn more this site on how you can hire an expert writer to assist you.
Helping your clients to acclimatize with the environment builds trust and makes clients feel at ease with you and may end up extending their stay.
- Learn to keep transactional records
Whether you have only one client or several, it is advisable to keep all records of transactions safely, just in case disputes arise later. For example, this is common where clients pay lump sum rent upfront or where deposits are made before moving in, but most problems arise after the leasing period expires. If possible, all payments receipts should be archived as they are evidence that transactions were made. Also, keep all records of customers’ complaints so that you can make follow-ups and ensure they are addressed.