It is a truth, universally acknowledged by everyone in the rental business, that having a healthy landlord-tenant relationship is extremely important. Building a strong relationship with your tenants, where there is mutual trust among the parties, is essential because you are entrusting them with the care of one of your biggest assets – your house. Besides, when you are on good terms with your tenants, they tend to take good care of your property and are motivated to renew the lease when the time comes.
If your relationship with tenants is not that great, communication might get complicated and they may not feel strongly inclined to take care of your rental. Apart from the financial depreciation this entails, it could also impact your reputation as a landlord in the neighborhood.
To avoid this, you can work towards improving your relations with your tenants. Here are a few great ways to do so:
Maintain a Polite and Friendly Attitude at All Times
Being polite is the first step to forming any relationship. Whether you are showing the property to your potential renters, or communicating with them on the phone, maintain a polite demeanor and a pleasant tone. Answer all of their questions patiently and listen to their concerns.
If there is a delay of rental payment or any disagreement, try to understand the root cause of the issue before jumping to conclusions. Avoid acting rashly and jeopardizing your understanding with the tenants during such times.
Communicate Your Expectations Clearly, In the Lease and In Person
Honesty and clear communication are the foundation of a healthy landlord-tenant bond. Be clear about what your expectations are from them, such as using your Nashville home responsibly, paying the rent on time, and being respectful of the neighbors. Being transparent does not mean you are being rude, provided you give the tenant an idea of the reasons for your expectations. As an added measure, you can include all of these expectations in the lease and have an in-person discussion with the tenant as well.
Charge Reasonable Rent
The rent you charge is one of the biggest factors affecting your tenant landlord-tenant relationship. If the residents know that they are paying a reasonable amount for the benefits you offer in your rental; there will be no cause for dissatisfaction. They may not feel pressured when they pay a fair amount each month. However, if you set a rent that is higher than the market value of your rental and is not worth the amenities your rental offers, this can put a strain on your relationship with your renter. Therefore, ensure that you set an appropriate amount after thorough research.
This applies to increasing rent as well. Keep the rent increase steady and gradual. Avoid sudden hikes or unnecessary additional overheads that may cause the tenant to wonder if you are overcharging them.
Explain the Lease Terms to Your Tenant
As a landlord, you are deeply familiar with the terms of the rental agreement. However, you need to ensure that your potential tenants also know all the clauses and conditions. Have them sign the agreement only after they know all the particulars. Go that extra mile and explain every term to them if needed, to eliminate any future conflict related to the lease. Besides, your transparency is only going to help increase the tenant’s trust.
Respond to Tenant Requests on Time
Respond to your Nashville tenants’ maintenance requests within 24 hours of receiving them. Provide them with multiple ways to reach you, such as email, phone, WhatsApp, or other messaging tools. Prioritize their calls, respond to them quickly, offer solutions, and resolve issues in a short time. Living with a burst pipe is not comfortable. The least you can do is empathize with them and provide quick services for any inconveniences hindering their routine.
Offer Discounts or Special Coupons
If your tenants are responsible and cooperative and adhere to the lease terms, one good way to better your relationship with them is by offering discounts. You can acknowledge their cooperation by offering discounts on utility bills, giving free Wi-Fi for a couple of months, sending coupons to local events, or gift cards to the local grocery and retail stores. When your renters feel appreciated for their efforts, they are more likely to keep up the good work.
Respect Their Privacy
You can respect your tenants’ privacy by dropping an email and a text message at least 24 hours before entering the place for an inspection or a formal visit. Let them know if you or your property manager will be visiting the property. It will give them time to clean up their home and may not make them feel like you are intruding on their space. Respecting the renter’s boundaries is critical to building a good relationship with them.
Strike a Balance
Landlords often struggle to strike a balance between being friendly with tenants while conveying their terms and expectations firmly. Nevertheless, don’t give up. Forming a good relationship with your rental occupants can help in minimizing vacancy rates in the long run.
This is where property managers can help. As the bridge between landlords and tenants, property managers know how to communicate expectations. They can take care of regular maintenance, home improvements, and rent collection, and even come up with custom gifts to boost your popularity as a landlord.
At least, that’s what we do at Omni Realtors and Property Management, one of Nashville’s best property management companies. We have been helping homeowners build and sustain strong relationships with their tenants for almost 2 decades and we know exactly what works.
For more information on how we can help, contact us now.