As a property owner or manager, you know how important it is to have a good relationship with your tenants. But it can be a bit tricky. Figuring out how to keep the relationship completely professional yet friendly can leave you with questions as to how to handle certain situations. Here are a few tips on how to have the perfect relationship with your tenants.
Your tenant is new to your property, and may even be new to the area. So make sure you let them know they can email or message you with any questions or concerns. Whether it is about something they’re doubting in their home, or maybe even what restaurant you recommend, being approachable will extend the length of which your tenant will want to stay.
Resolve Maintenance Issues Quickly
Maintenance issues are never fun, but they are a necessity to keeping your tenant happy. Also, it is your legal obligation to keep your building in livable conditions. Just like you expect your tenant to pay their rent on time every month and continue to keep their home in great terms, they will expect you to keep everything running smoothly. Your tenant is a person, just like you. So make sure you handle any issues ASAP so that they can carry on with their day with little to no downtime.
Be Respectful of Their Home
Although you technically own the property and/or manage it, please remember that your tenant considers this their home. To keep the relationship running smoothly, respect your tenants privacy. Never show up unexpectedly. Be respectful by giving your tenant a 48-hour heads up of your needed presence.
Be Stern, but Kind
No one likes a pushover, but nobody likes a compassion less human either. Before the move in date, contracts need to be signed. At the time of signing, be sure to remind your tenant of what you expect from them. Be firm with your expectations and with what the consequences are. If you have a late-fee for rent payment, for example, follow through with the late-fee. Not doing so from the beginning will make your tenant feel that the rules are more like “guidelines.” This can lead to enormous problems for you in the future. But also remember, there are always exceptions, like a family death, serious illness etc. Make sure you find a healthy medium.
A good tenant is hard to find, so when you have a great one, you want to keep them as long as possible. Show your tenant you want to keep their business by giving them small appreciation rewards like movie tickets, or perhaps a bottle of wine. This small investment could result in a long-lasting business relationship.
Don’t Become BFF’s with your Tenant
As much as you and your tenant may hit it off, at the end of the day, this is your business. Be careful not to become too overly friendly. Although it is exciting to befriend someone new, it can become very awkward when they try to get away with a week-long late payment or no payment at all.