The Key To A Better Landlord and Tenant Relationship |
Posted: October 26, 2021 |
As a landlord, it’s in your best interests to be on good terms with your tenants. A good landlord/tenant relationship ensures the rent gets paid on time, your property is looked after and your tenants stay with you for the long term. But what constitutes being a good landlord in a renter’s eyes? Here are some key areas where the approach you take can determine the kind of relationship you have with your tenants.
Maintenance & repairsTaking care of maintenance issues promptly is a big one with renters. Having to wait weeks in the height of summer for a broken air conditioner to be replaced or putting up with a constantly dripping tap won’t endear tenants to you or make them keen to renew their lease. If a tenant reports a maintenance problem, take care of it as quickly as possible, because the cost of the repair could be a lot less than the cost of finding a new tenant while your property sits vacant. And if the maintenance request involves a security or safety issue, such as a broken door lock or a malfunctioning smoke alarm, see to it immediately, as your landlord’s insurance may depend on it.
PetsMore people than ever are choosing ‘fur babies’ for companionship but finding rental accommodation that allows pets can be difficult. In strata title apartments, whether you can have a pet is decided by the body corporate by-laws. But in a private rental situation, you will need to use your discretion as a landlord. Many landlords see pets as a risk, but small animals can often be acceptable, providing they do not disturb other tenants and the owner agrees to fumigate the apartment at their own expense upon vacating. Whether you allow pets or not is up to you, but if your property is reasonably pet-friendly (i.e. has a fenced yard and inexpensive carpets and furnishings), it may be in your best interests to say ‘yes’ if it means securing a reliable long-term tenant.
RentKnowing the amount of rent to charge for your property requires doing some market research and identifying what others are charging for similar premises in your area. It’s crucial to get it right because charging too much rent will make tenants resentful and charging too little may not cover your investment costs. You are entitled to raise the rent, as long as you give your tenants adequate notice, but before you do, make sure you consider whether the additional money is worth the cost of potentially losing a good long-term tenant and gaining a more high maintenance one.
PrivacyThe respect you show for your tenant’s privacy is another area that will determine your relationship with them. You aren’t allowed to demand access to rental premises without notice and yet some fledgling landlords arrive unannounced on their tenant’s doorstep, considering it their right because it is their property. As a landlord, you have the right to access the property for inspections, maintenance and to show prospective new tenants, but you must give the current tenants adequate notice and only request access for reasonable times (i.e. between 9 am and 5 pm).
Key attributes to developA good relationship between landlord and tenant is one built on trust and mutual respect and this can be accomplished by cultivating the following attributes;
As a landlord, your tenants are ultimately your customers and the health of your rental business relies on keeping them happy. So fostering and maintaining good relationships not only makes good sense but good business sense as well. Because the truth is, it’s harder and more costly to replace a tenant than it is to keep them happy, so it pays to be penny-wise rather than pound-foolish.
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