It’s no secret that quality tenants can either make you or break you as a landlord. That’s why at Welcome Home we spend a considerable amount of time vetting tenants to ensure the investors we work with have a positive tenant experience. After all this is a business.
But why is it that so many landlords struggle with finding the right tenant? Well, it’s simple….they rush. They fear having to make that mortgage payment themselves and fail to realize that an extra payment is worth the price rather than perhaps a tenant who moves in and stops paying after all.
Not all tenants are like that but proper due diligence is key. Here are just a few ways you, as a landlord, can have better relations with your tenants:
Prioritize Your Relationship With Your Tenant
Even if your tenant doesn’t contact you for anything rental-related, be sure to check in every so often. Maybe you know of a new restaurant opening in the area or maybe there is a holiday parade you want to recommend. Knowing your neighbourhood and acting as a pseudo-concierge can make your tenants feel at home and connected to you – which will help them to value you, too.
Are you going out of town for two weeks? Let your tenants know! No tenant will ever be upset about overcommunication. Communicating openly (via text or email, even) with your tenants will help them realize that you are available whenever needed, which will avoid awkward situations like waiting to let you know that the garbage disposal is broken.
If your tenant contacts you about something that needs repair, give a response even if there is no immediate solution. Let your tenants know that you are working on the situation and that you will touch base frequently until the problem is solved.
Be sure that communication is consistently good and that you are available by phone call, text, or email regularly. Ensure that your tenants have multiple ways to contact you, and maybe even an emergency contact in case you are unreachable. Reliability in a landlord is a huge plus and can make or break a good tenant/landlord relationship!
Keep Your Customers Happy
Your tenants are ultimately your customers, and you are providing a service and a product. It’s important to keep them happy and wanting to return! Make sure that your home is in good repair and a place that you and your family would like to live.
Don’t put off making repairs just because they are out of sight! Check in with your tenants often (even monthly) to see how the rental is going and if any repairs or updates are pertinent.
Go The Extra Mile
I once had a landlord (of five years!) who brought me a bottle of Cognac every Christmas. I was 24 years old, what the heck was Cognac? This gesture was memorable and let me know that he appreciated how much I was caring for his home.
This same landlord tore down bushes in the front yard when we mentioned that the fence behind them was historical and structurally appealing. The fact that he listened to me and valued my suggestions was very flattering and ultimately led to a long and prosperous relationship for both of us.
Remember: Good Tenants Are Hard To Find!
If you have great tenants – keep them happy! Good tenants are hard (and expensive) to find. The cost of finding new tenants is often greater than doing the smaller, thoughtful things.
You could even offer to have the place deep-cleaned every six months! At a low cost to you (sometimes even under $100), you make your tenants feel appreciated and valued for taking good care of your property.
The relationship with your tenant can make or break your success of being a landlord. If this seems daunting, feel free to reach out to the team at Welcome Home where we can help find you great tenants as we do for many self-managing landlords. Interested in learning more? Feel free to reach out to our team today.