Generally, it takes a little time and money to attract and retain good tenants. Finding and building a long-term relationship with those loyal people who pay their bills on time, keep up to date with any maintenance they are responsible for, and don’t cause any problems, is a mere dream of every landlord. In order to retain loyal prospects, landlords should make their life easier by following these practical rules from the top real estate property managers to maintain a great relationship with your tenants.
Explain the Rules and Regulations Earlier
Educate and clarify the rules and regulations of your agreement the day they move-in. Frame specific stipulations that do not cause any confusion and tell them the list of things or activities that will be considered to cause damage to the property and the approximate cost to repair it.
Address Problems Quickly
As a landlord, always stay on the top of the repairs! Taking care of any repair or maintenance quickly makes your tenant happy and they don’t have to struggle with equipment that are malfunctioning or breaking and having to wait a long time for a resolution. Also, make it a habit to contact your tenants shortly after they move in to make them aware that you are available to them for any queries and resolving issues.
Establish a ‘Rewards’ Program
If the tenant keeps your property maintained, re-signs the lease, or refers a new tenant to your company, then award them with reward points like painting in a color of their choice, carpet cleaning or the installation of new appliances and more.
Don’t arrange any unannounced property inspection, even if you have the right to inspect your property any time. If you plan on visiting the property, give your tenants at least 48 hours of notice before making the visit. Inspect your property every six months to ensure that your property is at its top of the maintenance and fix minor problems before aggravating into bigger issues
Be in Good Relationship with Your Tenants
Maintaining a good and positive relationship with your tenants helps you to be in a peace of mind that they will be cooperative throughout their lease agreement. You can build a good rapport listening carefully to their queries, requests for changes to lease conditions and responding them quickly.
Don’t Get Too Friendly
Make a monthly courtesy phone call or email to your tenants to check whether they have settled in and respond to their queries and requests smoothly. After that, maintain your distance and don’t pop over regularly to meet them as this may spoil your good relationship with your tenant. Or hire a property management service to help you in this regard.
Being a landlord, set the stage for a good experience for your tenants to assure them that they have made the right decision of choosing your property!
The author is the leading Landlord insurance specialist in Kansas City helping landlord to protect them against the risks associated with owning a rental property. In this article, she gives useful tips to establish a good relationship with your tenants and the tips to retain them for a long term. Visit propertymanagerskc.com/property-management-services and propertymanagerskc.com for more information.