Why is it important to keep a smile on your tenants face? Because replacing tenants’ costs money and it requires that one thing we all hate exerting…energy. Each time a tenant slips through your chubby little fingers, you’re more than likely going to take a financial hit as a consequence. Who wants that?
Some times a Landlord needs to shamelessly go against their better judgement and morals just to keep a tenant happy. It’s a lousy concept and it will drive you a little insane, but you need to think of your tenant as a customer that is always right (even though they’re not).
Keep your tenants happy, give them a reason to remain faithful to your property, and you’ll definitely taste the fruits from licking arse.
1] Don’t ignore your tenant
If your tenant attempts to make contact, don’t be a typical landlord and ignore the reach. Be responsive, it could be important.
2] Maintain your property
If anything needs fixing, FIX IT, fix it promptly. I guarantee, the one thing that is sure to piss off tenants is a landlord that is either too cheap or lazy to maintain their own property. Even if it’s not your legal obligation to make the repair, try to be as accommodating as possible.
3] Give your tenants space
Tenants don’t want to be hassled by their landlord. You’re not their friend or neighbour, so don’t try and be one. Leave them to enjoy their home in peace.
4] Trust your tenant
Trust your tenant until they give you reason not to. It’s a simple rule, and it won’t go unnoticed.
If you start looking through letterboxes and appearing through bushes to see what your tenants are up to, you’ll freak your tenants out and you’ll most likely find yourself in a padded room.
5] Be compromising
Don’t automatically dismiss every request your tenant makes, even if it sounds totally absurd. Listen to what is being said, take every suggestion on board and take appropriate action.
Whenever you choose to be declining, make sure you give valid and understanding reasoning behind your decision.
6] Don’t be tight-fisted
If you’re fortunate enough to land yourself with a great tenant, then treat them like a great tenant. A great tenant is priceless, and you may need them more than they need you. Remember, they pay your mortgage.
Refusing to repaint, recarpet, or upgrade necessary appliances for a great tenant makes no sense. If you don’t do it for the great tenant you already have, you’ll have to do the work when they leave in order to attract new tenants anyways.
7] Think before increasing rent
Landlords love increasing rent, and for obvious reasons. Trying to increase rent is a dangerous game and shouldn’t be attempted unless you’re certain it’s necessary. More often than not, increasing rent is motivated by greed as apposed to necessity.
If your tenant refuses to pay the new amount, you’ll either a) look stupid for backing down in attempt to keep your tenant b) spend more money on trying to find new tenants, even if you manage to get the new rate from someone else.