7 Ways to build a good relationship with your tenant
Whether you’re running a property rental business on your own or through a property management company in College Station, Texas, you – as a landlord –need to nurture an atmosphere of respect and good vibes between you and your tenants. After all, customer satisfaction also matters in your niche industry as it could spell the success and longevity of your business.
In building a good relationship with your tenants, you get to enjoy the following:
- Lease renewals and lower tenant turnovers;
- More savings as it is more cost-effective to maintain established tenants than to get new ones;
- Lesser chances of property vacancy;
- Happy tenants tend to take better care of your property and pay rent on time; and
- Better rapport means less miscommunication and misunderstandings.
Remember, though, that the relationship between a landlord and a tenant is one of a professional nature. Getting too close with the tenants has its own set of challenges.
To achieve this atmosphere of mutual respect between you and your tenants without going overboard, here are some handy tips:
Give tenants a positive experience from day one.
The moment your tenants move in, make sure they feel right at home in your property. This means having the unit professionally cleaned before the big day. Have someone (or yourself) welcome them. Make sure they’re comfortably settled by briefing them on house rules, answering questions, and providing them with important details like the manager’s contact information, nearby amenities, and the emergency shut-off regulators for water and gas.
Give them a welcome gift.
Going the extra mile in customer service can go a long way in leaving a good impression on your tenants. Put together a basket of local goodies, or go the practical way with a tub of cleaning supplies. This simple act can make tenants feel that they made the right decision in choosing a home after the stress of moving.
Keep communication lines open.
Even if you’ve hired a property manager, giving your direct line to tenants shows your sincerity and reliability. Always update tenants beforehand on scheduled maintenance work, or if someone is arriving to check on the property. If tenants made requests for repairs, don’t keep them hanging and reply promptly. If you can’t attend to them right away, inform them so they’ll know what to expect.
Learn to listen.
Effective communication is not just about talking clearly but also listening actively. When tenants are voicing out concerns, let them feel that you value their opinions. Don’t cut them off and make eye contact. When they finish talking, ask follow-up questions to clarify certain points. Handle sensitive issues such as rent increases with tact and diplomacy. By keeping things pleasant between you and your tenant, you nip arguments in the bud.
Maintain professionalism at all times.
In case disagreements occur, step back before they escalate. Don’t wait until you get worked up and end up doing or saying things you will regret later on. Maintain your professionalism and separate yourself from your emotions. When explaining your side, focus on the facts and your requirements. If the other party is determined to repeatedly dispute them, step back. You (or your manager) can tackle the issue again at another time when you’re more level-headed.
Document all transactions and communications.
Keep tenant information organized by filing all receipts and written communications. Archive online chats and messages so you can refer to them when tenants have questions. When there are new operational changes allowed by the contract, have them sign agreements to confirm that they were properly informed. By keeping track of all your financial transactions with tenants, you’re also able to monitor your budget.
Rules and requirements ensure the smooth process of renting out your property. However, you must also consider your tenants’ welfare, especially when they’re facing difficult situations. From time to time, you may have to extend fee deadlines or make little repairs out of your own pocket. Still, remember to document the triggers and frequency of these exceptions. Decide if there’s a limit to the number of times you’ll be making these concessions. In the spirit of fairness, these exceptions should be made not just for one tenant but for everyone.
College Town, Texas: your best location for rental property investment
For your plans to invest in a rental property, consider College Station, Texas as your best location for doing so. As a college town, you’ll never run out of students needing living quarters for the duration of their studies.
To help you with reliable and professional property management in College Station, Texas, consider the services of Berkshire Hathaway HomeServices Caliber Reality. Its team of property managers and agents can help you with the nuances of running your rental properties like a well-oiled machine. Get in touch with the team now at 979.694.8844 or send an email to sales(at)bhhscaliber(dotted)com to get started!