If you recently decided to convert your property into a rental, you might want to learn more about managing your unit and being a good landlord. Venturing into the rental industry requires learning essential skills in order to offer excellent service to your tenants.
Your efforts to learn and practice skills to make you a better landlord will go a long way. To make these tips effective, make sure to be sincere in your actions and it may even earn you long-term renters.
Here are recommended ideas for landlords to use in their rental management practice:
1. Prepare a Welcome Letter
It doesn’t really require a ton of effort to get your landlord-tenant relationship off to a good start. You simply need to show sincerity. A good way to show appreciation for your new tenants is through writing a welcome letter.
Writing a welcome letter can make your first impression on your tenants a good one. The letter can provide contact information which both makes it easy for them to reach out to you and makes you feel approachable.
You can also provide guidance by reiterating property protocols and policies. The letter can contain the schedule of garbage pickup, initial internet passwords and utility contact numbers as well.
2. Make It Easy for Your Tenants to Be Accustomed to the Rental Unit
Having recently moved, new tenants might be feeling overwhelmed as they try to find their way around the neighbourhood. You can help by providing maps and making recommendations for essential services such as laundromats, hospitals, dining spots and the nearest grocery stores.
You can also introduce the new tenants to other people living in your rental building to familiarize them with their neighbours. This expands their network so in case they need to ask for additional direction, they can do so. It also may help the new tenants feel more comfortable with their new living situation.
3. Offer Some Supplies During Moving Day
The move-in process can be exhausting. Some tenants may be too busy packing and unpacking that essential items such as toilet paper may escape their mind. You can help your tenants by stocking a supply of toilet paper and hand soap on the first day of their move-in.
Your tenants will have a positive impression when they arrive and find that the property is rent-ready. Small actions are widely appreciated and will set a good tone for future interactions between yourself and your tenants.
4. Comply With the Terms and Conditions Set In Your Leasing Agreement
You expect your tenants to adhere to the policies in your rental lease. In turn, they also expect you to honour the clauses written there as agreed upon. Picking to comply only with certain stipulations and being inconsistent can sour your relationship with tenants.
For example, suppose a tenant has paid the rental payment beyond the due date. The lease states that a late penalty fee must be collected. If you let the tenant pay late without implementing the penalty then all the other tenants who pay on time will think this action is unfair.
It’s always best to apply the conditions on the lease to avoid any unnecessary conflict.
Issues like tenant complaints, late payment and conflict between tenants are bound to occur. Act like a professional when handling heated disputes and make sure to keep your calm.
Tenants expect you to be the voice of reason. If you lose your temper, you might end up being sued or your tenant may move out. Respect your tenants even if you own the place they’re living in and make sure to deal with any conflicts with professionalism.
Electronic access will be quicker than thumbing through physical files. In the digital format, the documents are more organized and it would take less physical space. Some of the essential documents worth keeping are leasing agreements, invoices and receipts, paid bills and maintenance work orders.
By keeping them all in one digital file, you can download them easily if a tenant requests a copy. It’ll also help as supporting evidence if you ever face conflicts. Providing an electronic copy to your tenants also saves on printing costs.
7. Keep a Strictly Professional Relationship
There’s nothing wrong with being friendly with your tenants, but there should always be a sort of professionalism to your interactions. If you’re friends with your tenant, it’ll be hard to implement your property policies. Your friendship might be affected when they want to be excused for an infraction but you remain firm to the leasing conditions.
Your tenant may also use your close friendship to ask for favors or overlook a violation. This would be unfair to your other tenants, so make sure the line between friendly and friendship is never crossed.
8. Practice Responsiveness
Your tenants are what keeps your business afloat, so make sure you’re maintaining communication. If they request maintenance, ask for clarification or a status update in order to have everything you need to do worked out before you arrive.
As a landlord, it’s your duty to provide for what they need business-wise. Think of it as providing great customer service.
Tenants are sensitive to your actions. If you keep postponing or ignoring your tenants’ calls and messages, you might find them looking elsewhere for a more responsive landlord. Be courteous, respect your tenants’ time, and honour their trust in you.
If you need to run some errands, designate a point person in charge of managing your tenants’ issues while you’re not around. The more responsive you are, the better your tenants will rate your customer service.
If you follow these eight simple steps, becoming a great landlord that your tenants can rely on will be easy! But if you’re still a bit overwhelmed, make sure to reach out to the professional team at Cressman Realty and Property Management. We’ll help you make a good first impression on your tenants and maintain a good relationship.
CRESSMAN REALTY & PROPERTY MANAGEMENT
155 Leonard St. N.
SK, S4N 5X5