The top 3 concerns that keep landlords awake at night are:
Property Maintenance, Care of Property and Tenant Behaviour.
(The Mortgage Lender)
So, with this in mind (and our concern for our landlord's sleep!), we decided to bring you our advice on establishing positive landlord-tenant relationships.
It is, after all, our experience that having good relationships with your renters can have a significant impact on your occupancy rates, property condition and ultimately the return on your investment.
Establishing a relationship with your tenant(s) means that they no longer view you as an abstract caricature of a landlord, only looking to collect rent, but instead as a real person.
Generally leading to tenants caring more about how their care of the property has a direct impact on you, while simultaneously making you more approachable.
This approachability is vital in today's rental market with more and more people renting.
The sector is increasingly being viewed as a 'service industry', with tenants increasingly expecting approachability, prompt responses and quick resolutions from their landlords or property managers alike.
"69% of tenants look for landlords that always respond to issues quickly after they arise."
So, here's our advice on forging and maintaining productive relations with your tenants:
This really is key. Especially if you want tenants to feel they can report any small issues in the property before they become big ones.
Establish the best method of contact for both of you early on, whether that be email, text, Whatsapp etc..
Then keep in touch with them about anything they need to know about the property - such as repair work or inspections - and encourage them to feel they can do the same with you.
Remember you are required to give tenants at least 24hrs notice if you need access to the property. However, this is a minimum, so try and provide more notice and be flexible about times.
While you want to have a positive, open relationship with your tenants, you still need to keep your relationship professional.
Maintaining a professional relationship makes it easier when the time comes that you disagree on something or need to negotiate with your tenant.
Potentially awkward discussions surrounding the topics of rent increases, property condition and tenant requests that you may not be keen on - such as getting a pet - are unfortunately an inevitable part of being a landlord.
Now more than ever, landlords are required to be responsive to tenants.
In today's 24/7 world, tenants expect prompt responses and quick resolutions.
While a quick resolution isn't always possible, keeping your tenant updated with what steps you have taken to fix an issue they have raised can go a long way.
Additionally, listening to any home improvement suggestions from tenants and addressing them where reasonable helps establish and maintain a strong bond between the tenant and property.
This, in turn, usually leads to better property maintenance and care from tenants.
Everyone has 'stuff' going on so be flexible with people when you can - that's just a good rule for life, right?
Not everyone can be the good communicator we suggest above so be flexible and ask tenants if moving rent day or an inspection day helps them.
A simple query like this can lead to no more missed rent or unanswered calls from tradespeople... and happier tenants.
We hope you found some useful insight and motivation in this property blog.
However, if day-to-day management of your tenant(s) doesn't sound like it is for you, feel free to give us a call to discuss our property management services.
Phone: 029 20 730 887
Voted No1 Lettings Agent in Wales at the British Property Awards 2018–19.
PS: Want to get a SOLD or LET sign outside your property quicker?
Call our team on 02920 730 887 or email: firstname.lastname@example.org for honest, expert and friendly advice.