Be Good To Your Tenant

The last thing a landlord needs is a rebellious tenant, and the best way to avoid that is by being a good landlord. As a landlord one of your main concerns should be keep your level of tenant satisfaction as high as possible. You could jeopardise your entire investment by having a negative relationship with your tenant. Remember, tenants have rights, and it’s often difficult and costly to evict tenants if things go sour, so it’s best to try and keep a sweet relationship. Consequently, I’ve formulated a list of duties that I believe should be followed in order to be a good landlord.

1) Communication
Call your tenant once every 3 months to see if everything is ok, unless they call you before that period. Closing all communications isn’t a good idea, because a landlord and tenant needs to be in a situation where they can comfortably communicate, so I think calling 3 times a year is ample. It’s important you get the right balance.

2) Maintenance
God forbid, if anything goes wrong that with in the property that a landlord is responsible for, it should bet fixed as soon as possible. I’m not going to put down a set period of time, because every situation will have its own set of circumstances. However, try and get things repaired as soon as possible, and make the tenant aware that you’re actively trying to rectify the issue. Delaying repairs can often irritate tenants; consequently cause friction, especially if it’s regarding essentials like hot water and electricity. Be aware that tenants can prosecute if you don’t attend to issues in appropriate time.

3) Make tenants feel at home
Tenants don’t want to be hassled by their landlord; they should feel like it’s their property, and not the landlord’s. If a tenant feels like they’re living in their own property, they are more likely to treat their living space with more respect.

4) Tenant Privacy
Tenants are like any normal person; they too need their privacy- give it to them. Don’t arrange any surprise visits, even if it’s kind natured, like an attempt to build your relationship- the tenant won’t see it like that. However, if you do want to enter your property, you will need to give the tenant written notice in advance. As long as your tenant leaves the property in the condition you gave it to them in, you shouldn’t be overly concerned. Besides, the security deposit is your insurance if any repairs are needed.

5) Trust your tenant
If you can’t trust your tenant until they give you a reason not to, then you’re an idiot. Ultimately, you, as the landlord, decided who rents your property, and only an idiot would let their property out to someone they couldn’t trust. You need to be able to trust your tenant. For example, I wouldn’t recommend inspections; I know a lot of full-management lettings agencies do that. However, a tenant is going to be less offended if an agency does an inspection because they should realise it’s with in the package. However, as an independent landlord, I wouldn’t recommend it. It shows lack of trust, and it will also remind the tenant that it’s not their property- that’s exactly the state of mind you don’t want your tenant in.

6) Be compromising
The relationship between a tenant and a landlord should be compromising and fair. Don’t dismiss everything your tenant requests, even if it sounds like an absurd request; actually listen to the requests and take every suggestion on board.

7) Treat a good tenant like a good tenant
If you’re fortunate enough to land yourself with a great tenant, then treat them like a great tenant. A great tenant is priceless, believe me; you need them more than they need you.
Refusing to repaint, recarpet, or upgrade necessary appliances for a great tenant makes no sense. Because if you don’t do it for the great tenant you already have, and consequently that tenant is frustrated and decides to leave your property, you’ll have to do the work anyway in order to be competitive in the rental market and attract a new unproven tenant.
Essentially, If you expect to watch the money roll in one way, then you’re going to trip up and fall flat on your face.

8.) Fair rent and increases
There maybe a time when you might want to increase your tenants rent when the exiting contract terminates. No one likes to pay more, but unfortunately inflation is a fact of life, and your tenants should be aware of that. However, make sure you raise the rates for the right reasons, and not just for the sake of making a few extra pounds to increase your bank balance. As I’ve said before, good tenants are priceless; by increasing rates unnecessarily you run the risk of scaring your good tenant away, and that could often end up being more costly. Make sure you think carefully before changing your rates.
There is nothing wrong with increasing your price, because you are essentially running a business. But make sure you explain to your tenants the reasons for the rent increase. If it’s a simple case of inflation, and keeping up with the current rates, then your tenant will most likely be understanding. However, if it’s just because you want a little extra cash, you may want to think of a couple of “sweeteners” such as repairs or improvements, to justify the increase.

For more useful tips on being a landlord, go to my 15 Tips For Landlords article.

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My Tenant Is Settled - Property Investment News wrote, on Mar 26th, 2007

	[...] Landlord Advice -Be Good To Your Tenant -Tax On Rental Income (CGT) -You Need Good Contacts As A Landlord -Landlord Obligations -Tips For [...]
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