Be a Landlord Your Tenants Love
Imagine your tenants cringing when they see you approach the rental property. Or how about having them avoid your calls because they don’t want to talk to you. While some landlords may get a kick out of the power trip, the majority would rather be on friendly terms with their tenants.
If you want to be a landlord your tenants love, you will find that it isn’t too hard. In fact, the most important thing you can do is treat them with respect. Then, you should:
If something breaks, you want your tenants to tell you. Otherwise, by the time you find out, a small repair could turn into something major. Therefore, you need to be approachable. Don’t make your tenants afraid to reach out to you. Encourage them to contact you for any concern – and act like you welcome it when they do.
Make repairs quickly and timely.
Don’t waste time when it comes to making repairs. Get it done as soon as possible. Not only can repairs get costlier the longer you wait, but waiting to fix them means your tenants are living without something – and that does not shine brightly on you.
Show your tenants that you care about their needs and the property enough to fix repairs in a timely manner.
Listen to what they have to say.
Listen to your tenants. If they give you a call or wish to discuss something, take the time to show them respect. Whether it is a concern they have about the property or neighborhood or if it is an idea they have that could make the rental better, it is important that you acknowledge what they have to say. You don’t necessarily have to act on anything, but you do need to show interest and concern.
Dismissing the tenant will not sit well – and may leave you searching for new tenants when the lease is up.
Giving a kid a sticker for a job well done at school can make the difference between a normal day and a stellar day. Everyone loves a treat now and then. Why not treat your tenants? You don’t have to spend a lot of money or do anything grand but treating your tenant in a small way can raise your landlord ranking. For example:
- Offer incentives such as a discount on rent if they refer a tenant to another property of yours.
- Give a gift card to a home store or local restaurant on a birthday, holiday, or lease renewal.
- Choose to do an upgrade in the home.
The tenant-landlord relationship doesn’t have to be a strained one. You are both equally benefiting one another. You have a rental property and your tenant needs a home. For a fee, you will give them one. If you didn’t have a tenant – you wouldn’t have that income. Appreciate your tenants and they will appreciate you. It is as simple as that.
Marina Shlomov, a managing partner at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube,Bigger Pockets and REI Club and LinkedIn.