Property investment is a success when there are good relationships built with your tenant. Although building good communications might sound like a good old-fashioned stereotype, it is definitely the key to making strong relationships. The tenancy will run smoothly since both parties will know their responsibilities.
So make sure to follow these below tips that can help you out vehemently.
1. Periodic inspections on a regular basis
Although this tip is mostly for those landlords that manage their property independently, it is also useful for those landlords that take the help of letting agents. These agents should also make sure that their duty of inspecting the property is carried on regularly.
With these checks, you will get to know what is happening in your property. Your tenants will also get a chance to raise issues that they have been having and they can also be in regular contact with you. But it should be noted that there must be 24 hours written notice given before you are visiting the property. This will make sure that the tenants will feel comfortable in their home.
2. A record of all communications should be kept
All the records of written communication should be kept by the landlord. This will makes sure that you will have proof of everything that you have ever discussed with your tenants. This will not only be advantageous to you as a landlord but will also make a trust between you and the tenant. The tenants will also feel more confident that you are organized and have everything recorded in writing. They will also be rest assured that you will not accuse them of anything.
3. Your tenants should know whom to contact
Either if you manage the property on your own or take the help of a letting agent, it is best to ensure that your tenants should know who to contact when something goes wrong or if there has been an emergency situation. This will help your tenants feel safe and comfortable since they know what to do when they need any kind of assistance. All you have to do is leave names and numbers of people whom they can get in touch with.
4. Use email to follow up on conversations
There are times when we tend to forget what we speak over the phone or in person. It is for this reason that when you are conversing with your tenant, make sure to follow up with an email in order to clearly outline the things which were discussed. This makes up for clear transparency between you and the tenant where it also ensures that everyone understands their duties and responsibilities.
If you are taking the help of an agent, make sure that he/she has a written copy of all of the conversations that he/she made on your behalf. This is because, at the end of the day, you are the one who is legally responsible to protect your tenant and also abiding by your obligations.
5. Be truthful and honest
From the moment a potential tenant sets foot in the rental property, it is important to maintain a good relationship. The initiation of the best communication starts with the way you advertise and show your property. When you are listing your property, it is best, to be honest, and truthful about the conditions and amenities at the residence. Also, communicate the expectations which you have for the tenants since this makes things much easier.
All the rules and regulations in the lease agreement should be clearly communicated. These are inclusive of nitty-gritty like rent due date, expected rent, and your definition of “wear and tear”. You should also communicate about the late fee regulations. Go through the lease contract “clause by clause” with your tenant and explain to them each and every aspect of it.
6. Maintain an “Open to Discuss” policy
You should make clear to the tenants that you are always available to talk to them and you are willing to respond to their queries and questions. Whether its a question about the extension of rent payment, queries about the lease, or any other issue, your tenant should be comfortable to talk to you. There are a lot of benefits to this policy since it makes the tenants feel appreciated and valued. It also ensures that there is a positive atmosphere of mutual respect among each other.
7. Listen to your tenants
Although technology has enabled the landlords to build better lines of communications with their tenants, if there is an absence of the core communication skill, everything will just fall apart. One of the most important rules of communication is being a good listener. The landlords must ensure that they are active listeners to the tenant’s complaints, preferences and notification’s and it is then that responding to their queries or requests work effectively.
Effective listening can also save a lot of time where for instance, if the tenant calls up regarding maintenance issues, the landlord can listen up to the query and solve it effectively where there will be no need for follow up communications. In some of the cases, there can also be the prevention of costly litigations.
8. Prompt the tenants for feedback
It is important that your tenants are comfortable communicating with you. You should make sure to encourage feedback since you can get to know the areas in which you might need improvement. This will ensure that your tenant gets the best of renting experience. With both good and bad feedback, your tenants will also feel that their voices are heard and answered.
9. It is all about keeping it simple
When you are trying to build up strong communication, never try to over-complicate things with your tenant. You should keep it short, simple and sweet and also exactly to the point so that your tenants are not overwhelmed. If you require any information from your tenant or if you want to convey to them that they have a deadline to meet, make sure to express them in the simplest way possible.
No one said that being a landlord is going to be easy and sometimes having great communication skills might not fetch you the desired results. But it is all about doing it one step at a time and devoting yourself towards establishing better relations with your tenant. Make sure to take a second look at these points from time to time so that you can take all the help required.
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