Developing the traits of a great landlord can lead to a good relationship with your tenants. We know that a well-respected landlord can be a reason for tenants to stay in the rental space for the long-term. If you want more long-term tenants, it’s always helpful to be the best landlord you can and always look for ways to improve.
Here are some tips that will help you be a good landlord and conduct necessary tasks.
Qualities of a Good Landlord
Being a good landlord doesn’t mean being only being focused on your rental property. You must balance looking after your rental unit and your tenants. This involves keeping both of them safe. As a new landlord, you might feel intimidated at first. Over time, you’ll feel more comfortable and confident in how you can best serve your renters.
By following these steps, you can transform into a landlord that tenants appreciate.
1. Show Your Tenant Around the Neighborhood
It’s not easy as a new resident to adjust to a new environment. Offer your tenant help and support when they move in. Give them access to needed resources. You can offer a printed map and point out the convenience stores and supermarkets in the area.
Clinics, pharmacies and hospitals are also a few places new residents of the area should know about.
If your new tenants are interested, you can even introduce them to the neighbors and other tenants. This way, they can foster new relations. If they need directions, they can rely on the people around them.
To make them more familiar with their surroundings and how things work, a small orientation or short tour of the area is a great idea if you have the time.
2. Issue a Welcome Letter
Even if it sounds simple, a note from the landlord can make your tenants feel more at home. Tell your new renters that you’re happy about their decision to stay at your rental property. You want to start in a positive way. This also creates a favorable impression and makes tenants feel welcomed.
You can also include vital information on your welcome note such as the trash pickup schedule, recycling instructions, your contact information and service numbers for utility services in case of interruptions. Tenants will need this information while staying in your rental property.
3. Adhere to the Terms and Conditions Written on the Lease
As a landlord, you should ensure that your leasing agreement is comprehensive. That is, there are few opportunities for conflicts since the terms and conditions are clear and specific.
Your lease is the contract you should refer to if any misunderstandings occur. Otherwise, problems can escalate.
If you find yourself facing a new situation with no resolution outlined in the agreement, check the local laws. You can also visit landlord forums to gather more information. Find the best and practical solutions that is most likely to leave everyone as happy as possible.
4. Strive for Internal Control When Dealing with Conflicts
Nobody is a perfect landlord. While managing your rental, you’re bound to encounter a dispute. This can be along the lines of rent payment delays, property damages, or repair rescheduling.
Even if you feel frustrated, always maintain a calm control over the situation.
Being a calm landlord makes you respected. You can prevent your tenants from not renewing their leases or breaking their lease early if you prove to be a good and reasonable landlord. Always review your rental agreement to be aware of your rights and obligations as a landlord and that of the renter’s.
5. Maintain a Professional Relationship
While being on friendly terms is appreciated, avoid crossing boundaries. Remember your role as a landlord. Disagreements may happen down the line and you want your renters to still respect your authority as a landlord.
Sometimes, you might need to confront a tenant for non-payment of the rent or property damage caused from tenant abuse or tenant neglect. If you have no boundaries, they might take advantage of your friendship and keep delaying the rent or refusing to pay for the property repairs.
You want to avoid this situation of compromising your rent collection out of respect for your personal relationship. Friendship and business must not mix and lead to conflict.
6. Respond to Tenant Requests Quickly
A prompt response from a landlord delights tenants. Calls and emails must never go unanswered. If you’re busy attending to something else, inform the tenant of your availability.
When you can’t be around for a few days to handle their questions or resolve issues, make sure that a good representative is available for them to talk to.
Tenants pay their rent to receive good customer service, so remember to treat each interaction as part of managing your rental business. The quicker you get back to your tenants, the happier they will be. It’s easy to retain happy tenants in your property, which leads to reduced vacancies in your rental unit.
7. Offer Online Services
Leasing agreements that can be signed online promote convenience. Keeping track of rent payments online is also easier. This highlights the importance of using technology to support your rental operations. Rent collection online can be more efficient.
Tenants can also send in notices for property maintenance on a digital system. This creates a lot of extra time as you don’t have to deal with several calls or answering emails and messages.
You can also practice keeping electronic copies of important documents such as leasing agreements and repair invoices/ receipts. This makes it easy to find old records and saves more storage space. You can also send the file directly to clients online so that there are fewer face-to-face meetings.
Achieving the title of a great landlord is within reach. One just needs to listen more to tenants and find ways to make their lives easier. If you’re short on time, you can always choose to hire a trusted property management company such as Limestone Country Properties.