While having a great property with good facilities in an envious location plays a huge part in the success of your rental property, one cannot ignore the advantages of a good landlord in a building. Often, most landlords forget and just view their tenants as currency which sometimes becomes a problem in their relationship.
Regardless of how perfect your property may seem, customer service skills are extremely vital to its success. After all, what good is a nice property if the landlord is unable to deliver proper service? Or is difficult to deal with? A good landlord who is in touch with their tenants will be able to provide better services to his occupants. This will make the property even better and eventually aid in the success of the investment.
The good qualities of a landlord can bring out a property’s true potential. It is therefore important as a landlord to equip yourself with some tips that could help you be an even better landlord to your tenants. With nearly two decades of experience in the Dallas/Fort Worth area, McCaw Property Management offers its take to landlords reading this article.
Even though landlords are encouraged to nurture a great relationship with their tenants, it is also important to ensure that the relationship is professional. A landlord should have a friendly but professional relationship with their tenants.
Having professional relationships will help create boundaries. A relationship with no boundaries is bound to be disastrous.
Inform your tenants of their responsibilities
As you welcome new tenants to your property, remember to inform them of their duties and responsibilities. It is also important to have your tenants sign a lease document before they occupy the space.
A lease is a legally binding document that delineates the relationship of both the tenant and the landlord. It is recommended that the lease be prepared by a property expert who will ensure there are no loopholes.
Answer whatever questions they might have regarding the document. Make sure to be patient and understanding with them.
Respect your tenants’ privacy
This is a common one that most landlords ignore and is often disregarded. You should always treat your tenants with respect and also respect their privacy. Do not show up to a tenant’s house unannounced or at odd hours of the night. You should also remember that you are not allowed to invade their personal spaces without authorization.
Your tenants have a right to quiet enjoyment of property. By respecting a tenant’s privacy, it will be easier to nurture a relationship. No one would like their space to be invaded as it is demeaning. Doing so to your tenants without a reason may even make them want to move out.
Use respectful language while talking to them and avoid raising your voice at them. Always treat your tenants as you would business partners.
Customize your lease
When preparing your lease document, it would be nice to customize it to the needs of your property. Once you’ve covered the basics such as rent, security deposit, duties, and responsibilities of each party, you can then have clauses that are specifically suited for your property.
When customizing your lease, consider your tenants. For example, if your property allows tenants with pets, you can have some guidelines on it. Customizing your lease helps you eliminate loopholes that could be used against you.
It is not unusual to have tenants that have issues and are not able to make rent. Do not be inconsiderate and lock up their premises due to a few days of non-payment. Give them reasonable timelines on when the rent should be cleared. Often times most tenants follow through with the promise and showing compassion only makes them grateful and appreciative of your services.
Most of these tenants will even recommend the property to other potential tenants helping you reduce the vacancy rate. There is also a high probability that they will extend their tenancy due to the satisfaction of the services.
Have well-established communication channels that your tenants can use to reach you in case there are any issues. It is better if the tenants are provided multiple means that they can use to register their issue. Ensure that they are able to reach a person of assistance.
Once an issue has been registered, it is necessary that you respond as fast as possible. As you already know, you are required to have technicians that help with the repair of items. Inform your technicians as soon as you receive the request from your tenant. Also, remember that any interaction you have with your tenants is a business interaction and should be in writing. Remember to use polite language in your response.
Have a person inspect the area of damage and have it handled as soon as possible. Inform the tenant on the progress of the matter to have them at ease. Most tenants will appreciate it if they are updated regarding such issues and this will also greatly improve the relationship between the landlord and the tenant.
Due to one reason or another, you might not be able to promptly respond to your tenants’ issues. After all, you have other issues to tend to in a day. This is where an experienced property manager can come in handy. Having a property manager will help you take off some of these responsibilities off your back. The property manager will respond to the tenant and follow through to ensure that the issues are solved.
McCaw Property Management is the property partner for you. Call us today and receive a quote for our reputable services.
Store all property-related documents electronically
Please remember to store all documents related to your rental business electronically. Such documents include lease agreements, contracts with the various service providers, and communications with tenants among many other documents. These documents are critical as you will use them for references later on and for conflict resolution.
The relationship between a landlord and his tenants plays a huge part in the success of the investment. A landlord needs to be intentional in how they interact and relate with the tenants. If the above is more than you can chew, consider hiring the service of a property management company.
Contact the number one property management service provider in the Dallas/Fort Worth area! McCaw Property Management is known for its quality services offered by the qualified and experienced property managers on our team. Reach out to us today.