Being a landlord is not just about collecting rent and avoiding damage to your property. Sure, these things are important – but with the right approach, you can build lasting relationships with tenants who trust and like you.
Why worry if tenants like you? Well, you entrust them with the day-to-day care of your property, and they have a lot of opportunities to damage it in creative ways, so you want to stay on their good side. More than that, you want them to be good tenants – pay their rent on time and take good care of the property. To get good tenants, you have to be a good landlord. Here’s how.
1. Take Tenant Care Concerns Seriously
Most tenants will not call the landlord for anything unless they feel there is no other way to deal with the situation, so you should take any complaint or concern seriously. You can’t always do anything to address your tenants ’concerns – for example, you can’t ask people in the unit above your tenants to stop walking at 3:00 am unless they’re also your tenants. You can’t get the old lady who owns the house next to your rental unit to take off her ugly lawn moths. But you can mediate disputes between your own tenants, deal with concerns about the property itself, or make exceptions for tenants in unusual circumstances.
2. Respect Tenant Privacy
In many states, you have to give 24 to 48 hours notice before you can enter your tenant’s home outside an emergency situation. Even if you live in a state without such notice period, or your tenants agree to waive it, you should still respect tenants’ privacy. Just because you can to pass unannounced does not mean you should fall unannounced.
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Tenants want privacy in their homes, so try to give prudent notice before entering the unit unless there is an emergency. You do not need to access the property while the tenant lives there unless repairs are required or if you suspect that the tenant has caused damage. You can evict a good tenant from a nice property by being too name.
3. Be A Little More Understandable
Things are happening. If you have tenants long enough, you will have some who will lose their jobs, or experience death in the family, or have a relative who needs someplace to stay for a few weeks. If they need a few extra days to pay rent or need to let someone stay with them a little longer than the rental technically allows, try to be understanding, especially if they were a good tenant otherwise. They will remind you that you are a little relaxed when you want them to renew their rent or pay a little more rent each month.
4. Make Repairs on time
Tenants only want to live in a well-kept home, and they are allowed to do so. Do not try to avoid repairs. Tenants are much more likely to give up rent if they can trust you to perform maintenance and repairs on time. After all, no one wants to live with a broken heater or leaking pipe for weeks.
If your tenant needs an emergency repair, do it right away. In the case of non-emergency repair or routine maintenance, notify the tenant that you intend to inspect the damage, or simply go ahead and set up an appointment with a contractor. Your property will do better if repairs are also done on time. Once you have several properties, you can use HOA and property management accounting software to manage care requests when they come.
5. Know Your Obligations and the Rights of Your Tenants Under the Law
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Check your state’s landlord-tenant laws to ensure that you perform your duties and respect the rights of your tenant. Your state’s landlord-tenant law governs such matters as the use of security deposits, when and how often you can access the property, when and how to evict a tenant, and what you can do with abandoned property in the unit. Laws may change, so try to stay current.
If you want to attract great tenants who will stay on your property for years, take care of it as if it were their own, and always pay their rent on time, you have to be the best landlord you can be. If you are cheerful, fix things right away, and are willing to relax a little good tenants when they need it, you may find yourself developing a relationship with your tenants that goes beyond business and into friendship.
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