Customer satisfaction is the key to any business’ success. So, as a rental property owner, a good tenant relationship should be a priority.
Whether you self-manage your investment properties, or employ Howard County’s top property management company to help you out, the importance of seeking a good landlord-tenant relationship should not be underestimated.
There are many reasons why a tenant may choose not to renew a lease with you at the end of their term. Therefore, as an investment property owner, you must take a proactive approach to avoid tenant turnovers as best you can. After all, long-standing tenants are far more cost effective than having a constant turnover or worse, a vacant property.
Today we are going to look at why creating a good relationship with your tenants is so crucial as well as some of the best ways you can forge and maintain that relationship with your Howard County tenants.
Why a Good Tenant Relationship is Important
Before looking into the many ways you can establish a long-lasting and positive relationship with your tenants, let’s look at some of the reasons why doing so is key to the success of your rental property business:
- Increased likelihood your tenants will care for your property
- Timely rent payments with little to no excuses
- Reduced tension when it comes to maintenance and repair requests
- Better communication between parties due to trust and reliability
- Mutual respect may lead to more lease renewals
How to Establish a Positive Relationship with Your Howard County Tenants
1. Be Forthcoming From the Start
Tenants are not typically going to welcome surprises after they have signed a lease contract with you and have moved into your property. To ensure that the move-in process, and entire lease term, go well for both property owner and tenant, it is important you state your expectations clearly from the start. This means:
- Going through the lease agreement thoroughly before signing
- Making sure your tenants know exactly what they are responsible for
- Disclosing any problems with the property at the beginning and offering helpful solutions
- Only making promises you intend to keep
- Explaining how the maintenance and repair requests work and with whom tenants can expect to be dealing
- Introducing the acting property manager if applicable
You will find that by doing all of this at the start of the lease term there will be far less confusion and misunderstanding throughout the lease term.
2. Be Quick and Efficient
One thing that most tenants will value over all else is the speed in which you take care of their concerns. If a tenant has an issue, strive to remedy the problem as quickly as possible. If you rely on a property management company to do these things for you, check in from time to time with your tenant to make sure questions and concerns are being handled appropriately. If not, consider getting a new property manager. In the end, it is your property and your tenants that need to be protected and cared for. If your tenant has to wait a long time for issues to be resolved, they are likely to become increasingly upset.
3. Respect Your Tenant’s Privacy
Accessing your rental property is something you may have to do on occasion. However, one way to erode the relationship you have with your tenants is to spring such entries on them at the last minute. Aside from the fact that legally you have to provide a certain amount of prior notice before entering a property occupied by tenants, it is just common courtesy to discuss these things with them beforehand.
Inconveniencing your tenant should not be the goal at any time; this will make them feel uncomfortable and on edge. Rather, try working with your tenant’s schedule when it comes to routine property entries. In addition, always follow up after any entry has been made to the premises to ensure your tenants did not experience anything that might cause them to be upset.
Also keep in mind when it comes to getting into contact with your tenants, do not harass them with multiple phone calls and voicemails. Consider using various forms of communication so that you do not interrupt their daily life all the time or become bothersome.
4. Be Flexible
Every property owner is going to have their standard set of rules – no painting, no pets, no roommates, etc. However, if you have a high quality tenant that continues to pay on time, has very little to complain about, and is looking like a potential long-term renter, consider bending the rules if possible.
If your Howard County tenant comes to you or your property management company with a request, try to have a willingness to discuss it with them. And, if the answer is still no, have the decency to provide a reason why and offer an alternative if possible. This shows your tenant that you care enough to have open discussions about things and thus, despite a refusal from you, your tenant relationship will remain intact.
5. Employ a Qualified Property Management Company in Howard County
Maintaining a good tenant relationship when you have a property management company can be tricky. Your property manager is an extension of you and your reputation as a property owner. Employ the wrong one and you can easily lose a tenant.
Choose a property management company that values customer service. Caring for your property, collecting rent, conducting inspections, and dealing with lawsuits is not all that property managers do. In fact, they are likely to have most, if not all, contact with your tenants anytime there is a problem.
In the end, there are many things you can do to build a good relationship with your tenants. Always keep in mind that your tenants:
- Are your customers
- Deserve a safe and habitable home to live in
- Want the respect that any consumer would from a company they are doing business with
Remembering this will help you take the necessary steps to ensure your tenant relationship stays positive and strong.
If you are looking for an experienced property management company in Howard County that strives to make tenants feel welcome and comfortable in your rental properties, contact Bay Management Group today.
With an emphasis on tenant satisfaction, as well as the ability to properly manage all things property related for you, Bay Management Group has just what it takes to produce satisfied tenants that want to continue to lease from you term after term.