Building a great owner-tenant relationship can be very tricky. At the end of the day the owner wants to make money off their investment property, and the tenant wants a great place to live for as little rent or hassle as possible. The best way to ensure that everyone gets what they want is to set realistic expectations for both parties at the beginning and continue to communicate throughout the process.
We've outlined four tips that will get you on your way to a productive owner-tenant relationship.
Tip #1 | Be accessible when your tenant tries to contact you
This is one of the top tenant frustrations. If something breaks but the owner is unreachable, a simple issue can turn into a major problem for everyone. Not only is it important to make sure you are available by phone or email, but also to respond within a timely manner. By committing to that level of service you will make sure your property is taken care of and your tenant is happy.
Tip #2 | Don't make promises you can't (or don't intend to) keep
There is nothing worse for a tenant than being told the property will be a certain way only to move in and find the opposite to be true. It can be difficult to tell a tenant something they don't want to hear or that could jeopardize the move in. Ultimately, it is better to be up front about what changes or alterations you are or are not willing to make. You won't feel guilty and your tenant won't feel blindsided.
Tip #3 | Show your tenants that you care about them
By regularly checking in with your tenants to make sure their needs and the needs of the property are taken care of, you show them that they are more than just a rent check. Tenants who feel cared about are more likely to take better care of your home.
Tip #4 | Don't raise the rent without justifying a rent increase
Many times a tenant will feel taken advantage of because they do not understand the reason behind a rent increase. Particularly if an obvious improvement was not made to the home such as new appliances or fresh paint. By communicating the reason behind the rent increase other than "because the market says I can charge this much", you will build trust and hopefully keep a happy tenant in your home for another lease period.
All of this can seem time-consuming and overwhelming which is why we are here to help! By trusting Mainlander with your property you are making sure all these tips and more are followed. Putting your property in our hands means a happy tenant and one less thing for you to worry about!