As a property investor, you will need to communicate with your tenants. Unfortunately, many landlords are not great at this. But that relationship between tenants and their landlords is very important. When the relationship is good, problems and disagreements can be averted. So, here are some of the steps you will need to take in order to build that relationship in the right kind of way.
Start on the Right Foot
First of all, you need to start things in the right way. If you don’t get off to a positive start, this could set the pattern for the future relationship between the two of you. So, think about what you can do to show your tenants that you care from the start. Some landlords help with the moving process. If you work with moving companies, you might be able to get them a discount or cover the costs for them. This can really show that you want to build a relationship because it’s such a positive gesture to make. That’s just one example. But what’s most important is your ability to communicate well with them.
Keep Your Distance
Once the tenant has moved into your property, you need to keep your distance. The truth is, no one likes an overbearing or ever-present landlord. If that’s how you come across to your tenants, they won’t like you at all. So, stay away from them and the property unless you have a specific reason for visiting the property. When that’s the case, always let the tenant know in advance that you need to see them. Turning up unannounced is not going to be seen positively by your tenant, so don’t do it. Keeping your distance is best for everyone.
Address Any Problems Rapidly
When your tenant contacts you with a particular problem, you have to deal with it as quickly as you can. If you don’t, the problem will get worse, and the tenant will be left to live in unsuitable circumstances. Every landlord has a legal obligation to their tenant, so it’s up to you to get repairs made. If you are able to respond rapidly and take the right course of action when something does go wrong, your tenant will really appreciate this. And that can only be a good thing for the relationship between the two of you. It will show that you’re not just there to make money.
Be Fair and Realistic
Finally, you should always aim to be fair and realistic with your tenants. This starts with setting the price. Of course, you want to make a profit on the home, and your rent pricing will have to take this into account. But continually forcing up the rent at every opportunity is never going to be taken well by your tenants. Be fair with them and charge them an amount that is reasonable and that they’re realistically able to afford. If they have problems regarding the rent, meet with them and talk things through. That’s always the best way to conduct things.
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