Maintaining good relationships with your tenants is your bread and butter. No, literally, their rent payments are what generate your income as a landlord. If you want to keep being able to put food on the table, you need to keep tenants in your rental properties and paying monthly rent. Maintaining good relationships with them is one of the keys to doing just that.
Maintain Good Relationships With Your Tenants: Fix Maintenance Issues on Time
Few things are as frustrating to renters as having a maintenance issue, not being able to solve it themselves, and having to wait for it to get fixed. If you want to maintain a good relationship with your tenants, make sure any maintenance issues are resolved as soon as possible. As a landlord, you have responsibilities toward your tenants. Among them is the responsibility to provide your tenants with a safe place to live. Fixing maintenance problems is a key part of that. Plan for this by making sure you know how long appliances and other furnishings you provide are supposed to last. Sure, they may last longer, but they might not. Have an “it’s gonna break” fund built up so you can pay for repairs as they become necessary.
Communicate With Them
It’s important to maintain open lines of communication with your tenants. They should be able to reach you when they need to. Conversely, you should have a way to notify your tenants of important matters as they become relevant. Keep communications affable, yet professional. This will make it easier to have difficult conversations in the future, such as raising the rent. There are a few rules you should follow before raising rent that can help avoid contentious situations. Generally, you can’t raise rent mid-lease without a written agreement signed by all parties. If you’re going to raise the rent, it’s best to wait until the lease is over and notify your tenants in advance so they can make plans accordingly.
Maintain Good Relationships With Your Tenants: Respect Their Privacy
Everyone deserves privacy in their home, whether they own it or are renters. Respecting the privacy of your tenants is important if you want to maintain a good relationship with them. While it is your property, they are the ones living there. The terms of you entering their living space is one of the things you should outline in your lease agreement. If you need to enter the property for any reason, provide a minimum of 24 hours and keep your visit during normal business hours as much as possible.
Maintaining good relationships with your tenants is just good business for landlords. To do so, have maintenance issues fixed in a timely manner, maintain open channels of communication, and respect their privacy. There are other things you can do as well, but these will help you create a relationship built on respect that will encourage your tenants to continue to rent from you.
See you at a meeting soon!
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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