Business owners know that it’s important to build a strong rapport with customers. Good relationships and solid customer service will keep them coming back again and again. But how does this apply when you are a landlord and your customer is your tenant? In essence, you want them ‘coming back’ for more in terms of lease renewals
How do you do this? Being on friendly terms is great, but this is a business transaction. Sometimes friendship can get in the way of boundaries and create gray lines that are hard for both sides to understand and honor. It’s critical to understand the healthy boundaries and obligations of a tenant-landlord relationship. With a mindful approach, you can facilitate a healthy relationship with your tenants.
Provide Clear Expectations from the Start:
Let prospective tenants know the rental requirements right from the beginning. This allows them to see what is required before they invest their time and money with the application process. Then, carefully screen the applicants using the same criteria you outlined. This is very important, because it ensures you’re being fair to them and also holding yourself to the standards as well.
Watch for:
- Rental History – Review the rental history and landlord references. Confirm there are no current or prior evictions or landlord judgments.
- Credit Scores – Setting a minimum credit score is important. All landlords would love to have tenants with a 700+ score, but setting a more realistic minimum makes sense (600 or 620 is fairly common).
- Criminal Records – or rather, a lack of criminal activity.
- Verifiable Income – Verify current employment or source of income. A good rule of thumb is to require gross household monthly income of three times the rent.
Provide a Well-Defined Lease
The lease agreement should clearly outline the expectations of both the landlord and tenant during the lease term. Explain the policies and procedures, due dates, late fees, and security deposits before moving forward. Be specific on pet requirements, cleanliness guidelines, and what warrants eviction. Clear communication now will start your relationship on good terms.
Be a Professional
If you want to be respected by your tenants, then be respectful to them. From the way you dress, your body language, and speech – conduct yourself in a friendly and professional manner throughout the duration of the lease. Be responsive, handle maintenance issues quickly, and be thoughtful of their time and schedule when doing inspections.
Be a Great Communicator
Establish clear lines of communication and provide them with a straightforward way to reach you. Let them know how to report issues and emergencies, as well as how to determine the difference between the two. If you’re going to be unavailable, then make sure there’s another person they can reach out to when needed.
Communication is a two-way street. Be sure to let your tenants know about any upcoming issues. For example: if you send a professional to do an annual pool maintenance or HVAC check, be sure to give plenty of notice to accommodate their schedule. Asking for their feedback can be helpful too.
A note/email of appreciation or small holiday gift can help show your tenants that you care and appreciate their ‘business’. Keep it simple and genuine.
Remember – your tenant is your customer. You are responsible to do your part to ensure a good experience for you both. By outlining expectations early, screening properly in the beginning, conducting yourself professionally, and communicating well, you will create healthy and strong relationships with each tenant.
About Rentals America
Rentals America provides full-service property management for residential properties. Our team is completely dedicated to property management and we’re proud to help landlords navigate the rental market. We handle the day to day hassles so you can rest easy. Contact us today.
