It’s difficult to avoid seeing negative opinions about landlords, and it’s not too hard to see why. Everyone deserves to have somewhere safe and comfortable to live, and the idea of that place being owned and controlled by someone else can be a touchy subject. Bad landlords do exist, but there are good landlords too. If you want to invest in property, but you want to be trusted by your tenants, you can make an effort to give them what they want. Trustworthy landlords can find it easier to find good, long-term tenants, which is often a good way to save money.
Be Fair
People want to see fairness in their landlords. They don’t want to live in fear that their landlord is suddenly going to raise the rent by 50% or ask them to leave for no reason. If you make an effort to treat your tenants fairly, they’re more likely to treat you fairly too, and meet their obligations. One thing that’s important is to recognize that investing in property is a business move that comes with risks. Passing all of those risks onto your tenants isn’t really a fair way to treat them, so consider how you would want to be treated.
Be Responsive
Tenants need to be able to contact you if they have any problems. If you decide to manage your property yourself, instead of having a property management company do it for you, you need to know how to manage tenants. Being responsive is important, especially when it comes to making repairs. Not only does it help your tenants, but it also protects your investment. Many landlords who own multiple properties use software to help them manage their tenants and their needs. It can make it easier to stay on top of messages and requests from tenants and manage repairs or work that needs to be carried out.
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Keep Your Distance
It’s important to remember that although your property belongs to you, it’s your tenants’ home. They have a right to privacy and to peaceful enjoyment of their home, and there are often laws about how and when you can gain access to it. Of course, you need to be allowed access for important things such as repairs and emergencies. However, for the most part, you should leave your tenants to enjoy their home. If you do need to visit them, give them at least 24 hours of notice.
Offer a Human Touch
What your tenants ultimately want is to be treated like humans. You might see them as customers or a business transaction, but you have to remember that what you’re selling them is their home. A more human approach to being a landlord could involve being flexible and willing to negotiate certain things, being understanding when your tenants have problems, and aiming to create trust between you. Of course, the tenants have to play their part too, but they’re more likely to be responsive if you make an effort.
To become a trusted landlord, you need to balance business with treating your tenants well. It could help you to secure long-term tenants who don’t give you any trouble.