How to Create a Healthy Relationship With Your Tenants
In the world of investment property ownership, we view our rental properties as our business, our income and our future. It can be difficult to see your tenant as anything other than the rent check he or she sends you each month. While it’s true that you have no legal or moral obligation to develop any sort of relationship with your tenants, you may find that taking the time to do so will benefit you in ways you didn’t count on.
A healthy relationship with your tenants doesn’t just happen. It’s something that has to be created and nurtured. Is it worth your time? It definitely can be when they are happy enough to renew their lease over and over again.
Here are a few ideas on how you can create a healthy relationship with your tenants:
What we really want here is mutual respect, and that starts by you respecting your tenants. When you are willing to show them respect, you can count on getting some respect back. Respect for your tenants starts by acknowledging that they are important to your livelihood. You don’t have to tell them that, but you should at least remind yourself. They are helping you pay your mortgage so you can go on to do bigger and better things.
The more you are willing to communicate with your tenants, the better your relationship will be. This should start at the very beginning. Bring up some of the key issues like rent being paid on time, what to do if there is leaky faucet, who is in charge of the landscaping. Be crystal clear on these points in a firm, but respectful way. The last thing you want to do is assume that the signed lease agreement is doing all of your communicating for you. You can avoid frustration and stress down the road if you are communicative upfront.
Stay in Touch
You don’t want to bombard your tenants with so many visits and phone calls that they get sick of you and can’t wait to leave. However, you also don’t want to never check in on them either. If you decide you want to pop in, give them a quick call or shoot them a text so they have a heads up. When you do call or stop by, don’t always make it about collecting rent or fixing a problem. Call once in a while and just ask how everything is going. This will make your tenant’s love you and they will happily re-sign their lease when the time comes (only if you want them to).
One of the best ways to maintain that mutual respect and clear communication between a landlord and a tenant is to use a property management company, like Real Property Management Pinnacle Tucson Tucson. We are professionals when it comes to developing a relationship with tenants. To learn more about what we do, give us a call at 520-883-7368.