Whether you are a landlord or a tenant, the relationship between the two can significantly impact the entire renting experience. Having an unpleasant dynamic with your renters or landlords can cause anxiety. Plus, the feeling of trying to avoid someone who you will most likely bump into on a day-to-day basis is something that can have a negative impact on your overall mood.
Property managers can help you maintain a good relationship with tenants even if you don’t get to see them regularly because they are trained and know what is best for your property.
Why is the Landlord-Tenant Relationship Important?
Having a healthy relationship with people you work with, peers, and colleagues is important—as well as having a good relationship with your renters. Although some landlords don’t usually see their tenants every day, a healthy relationship between them creates a pleasant experience for both parties.
As a landlord or property manager, having a good relationship with renters will give them peace of mind, knowing they share mutual respect.
A good relationship will reduce the chances of renters avoiding late payments, damaging the property, and consulting with landlords before making any changes and renovations to the property. Landlords don’t exactly have to be friends with the tenants, but it helps if they respect each other.
Tenants may also benefit from having a good relationship with their landlords. They will be more comfortable and confident to raise concerns, which creates a better environment for both parties—especially for long-term tenants.
Tips for a Better Landlord-Tenant Relationship
If you are a landlord or property manager, you will want to follow these tips to build a better relationship with your tenants and maintain a healthy environment for all the renters occupying your property, as well as peace of mind for yourself:
Communicate well with your tenants
Having proper communication is essential for having a healthy relationship with tenants. If you want to have better communication between you and your tenants, you must set up communication channels where tenants can easily reach you if they have questions or concerns.
You could keep all your communication lines open for them so they can reach you. However, you should still set up boundaries, such as scheduling call times, unless there is something urgent.
Make a good first impression
When a tenant is looking for a place to rent, the landlord is not the only one who does the screening. The tenant’s decision also relies on what they think about their future landlords—which is why it is vital to make a good first impression. You want to make your tenants feel comfortable and let them know that you can help them if they have questions or concerns for the foreseeable future.
Giving a good first impression also shows potential tenants your knowledge about the building, the neighborhood, the amenities, and all the necessary details they are supposed to know if they decide to rent the property.
Screen your tenants
Getting a good impression works both ways. Aside from giving a good first impression as a landlord, you also need to get a good impression from your future tenants as well. To screen your tenants, it is better to talk to them in person, have them fill out an application form, analyze their financial records, and ask them for proper ID and proof of income.
Getting all of the necessary information upfronts will give you a good idea of how they can pay rent monthly and how they can keep paying on time to ensure smooth monthly transactions.
Set well-detailed rules
Now that you have decided to rent the property out to a good candidate, you should set boundaries and rules with your tenants and see if they agree with them. While building a good relationship with your tenants is essential for the entire experience, it is also important to avoid liabilities.
Before allowing them to move in, you must be clear with all the rules, such as payment due dates, penalties, and their responsibilities as a tenant, and explain what you expect of them and what they should expect from you.
Set fair rent prices
Some property managers and landlords take advantage of new tenants by increasing the rent price. However, if you try to increase the amount they pay on rent from the start, it is not a good sign for your relationship in the future.
Make sure you set a fair price, especially if you have multiple units to rent out. Some of the older tenants might open up about rent prices with your newer tenants, and you don’t want them to raise concerns with you about these problems. Overcharging tenants could put a strain on your relationship—which could cause them to act up or even vacate your property.
However, undercharging tenants is not a good thing either. You will lose money and might not be able to meet the demands of the tenants when it comes to maintenance and other landlord responsibilities—so make sure you set a fair price that will still benefit you as a landlord.
Encourage tenants to be involved in the community
If you have multiple tenants in one building or apartment complex, you can encourage all of them to build a sense of community. After all, you are all neighbors. Although it is completely unavoidable some misunderstandings between all tenants, encouraging them to build a sense of community is not impossible.
Even if you have one tenant, you can still encourage them to be part of the bigger community in your area by telling them about local events, the best hangout spots, and more. It will definitely make them feel like they are a part of a bigger community outside the building and help them build a better relationship with you as a landlord.
Being a landlord is not an easy task, but it’s a good thing some people have made it their profession to manage apartments and investment properties. Property management has come a long way, and some managers are trained to build better relationships with tenants—as well as make sure the entire operation runs smoothly.