Having long-term tenants greatly depends on the relationship a landlord fosters with their renters. You need to be there for your tenants and care for their needs if you want them to feel valued and appreciated. You cannot wholly rely on the condition of your property and its amenities to keep them happy.
If you can listen to a tenant's needs, help them adjust to the property, and make sure that they understand the terms of the lease as well as their rights as a tenant, you’re more likely to see them become long-term tenants.
In this article, you’ll be provided with some essential tips on how to be a good landlord.
Help Tenants Adjust to the Property
You should always start your relationship with the tenant on the right foot. On the move-in day, be present to welcome your new tenants and ask if they need moving in. You can also provide them with a few helpful tips to navigate around the neighborhood. This is really appreciated if your tenant is new to the area.
Most tenants appreciate it when the landlord takes time to make an introduction and show them around. It makes them feel comfortable and creates a base for a good landlord-tenant relationship.
Customize Your Lease
Ensure that your lease is well customized to meet the unique needs of the tenant you are leasing to. It should cover the basics such as the rent amount and payment methods, security deposit, and all other legal terms required. Additionally, you should ensure that your lease is customized to cover some of the issues that are unique to your property.
This will help minimize the number of issues and disagreements that can arise between you and your tenants. To do this, it’s best to seek the intervention of an experienced and reputable property management expert as they’ll be able to craft a lease that protects you, your property, and your tenant.
Go Through Lease Documents with Your Tenants
Another great way you can work to improve the relationship between you and your tenants is by making time to go through the lease with them. Tenants won’t always go through the finer details of the lease. By taking the time to go through the lease with them, you help them know of their duties and responsibilities among various other requirements.
This shows the tenants that you’re responsible and trustworthy. Going through the lease agreement together can help you clarify any issues or answer any questions that the tenant may have. The best time to go over the lease with the tenant is before they sign it and move into the property. This way everyone can feel like they’re on the same page.
Understand the Law
Knowing the law and real-estate terminology is extremely important for landlords. Rental properties and real estate are highly regulated industries. Laws will differ state by state when covering matters relating to housing. These laws will note the obligations of the tenants and the landlord. What’s more, they will have provisions on the measures to take under certain special cases.
You can get a copy from the Department of Housing in your area or try to find it online. By following the law, you can protect both you and your tenants from legal liabilities and therefore able to focus on growing your business instead.
Respond Promptly
Whenever you receive a call or any other form of communication from your tenant, be sure to respond quickly. This is important because it shows a sense of responsibility and accountability to your tenants which they will greatly appreciate.
This is especially true for maintenance and repair complaints. Once you have received a request from your tenant, reach out to the technicians and have them look at the issue. Remember to keep the tenant updated, especially if you anticipate that the issue may take longer than originally expected to be resolved.
Store Documents Electronically and Physically
Since communications with your tenants are regarded as business interactions, it’s important to ensure that all documents are well stored and backed up for future reference. The careful and accurate recording makes it easy to follow up on requests or any other issues that may have been brought forward. Ensure that you also keep all other documents related to the investment safe.
Documents such as lease agreements, maintenance tickets, and rent payment receipts may need to be accessed at some point during the tenancy. Having these documents electronically stored and backed up will help you avoid losing them. You can also have your lease in softcopy where your tenants can access it online in a secure location.
Respect Your Tenant’s Privacy
As a landlord, you are required to respect your tenant’s spaces. Not only is it courteous, but it’s also required by law. Always notify your tenant and obtain consent from them before stopping or entering the space.
Conclusion
When you maintain open and honest communication with your tenants, you’ll gain their respect and be able to foster a better relationship with them. Ensure that you respect their privacy and boundaries, respond to requests and issues quickly, and make them feel welcomed and valued.
Self-managing your property can be a lot of work but you don’t have to bear the responsibility alone. Hire a reputable and experienced property management company!
Lone Eagle Management is a property management company located in New Jersey and has over 50 years of experience offering management services of the highest quality. Call us today, our team of experts will gladly answer any questions you may have!