Communication Tips For Landlords And Tenants

Building great relationships between landlords and tenants is not an easy task, like any relationship, it’s important for both parties to meet halfway. Whether you're an investor or renter, there are benefits for everyone when you pay close attention to strengthening your relationship with the other side.

It is clear that a good investor-tenant relationship helps tenants, but the benefits are just as visible for investors, as having a good relationship directly affects your turnover. The better you have a history with your tenant throughout the lease term, the more likely it will be renewed at the end of the lease term. A good relationship with your tenant will not only influence his decision to live on your property, but it can lead to great recommendations, and there is nothing more rewarding than word of mouth recommendation to make sure potential tenants are seeking to live on your property.

When you understand that building a relationship with your tenant is really important, suddenly you are not an abstract figure of an investor, who's simply here just to collect rent, you are an attentive and reasonable person. The better relationship, the more your tenants will understand that their lease issues have a direct impact on you. At the same time, your tenants will know that you are more accessible and you are more likely to listen about issues such as lease delays or service issues.

To ensure a good relationship both parties must be willing to contribute to their development. Investors must be willing to listen to their tenants and always approach interactions through a customer service lens. This can be useful for creating a fun and enjoyable environment for your tenants. Cultivating a sense of community and using recurring events whenever possible is a great way to do this. Help tenants invest in your property and give them the tools to make space their own without causing damage. Make sure you set reasonable expectations for your tenants from the outset.

Majority of communications are happening remotely right now, follow these 5 steps to start building a solid foundation with your tenants:

1.Remember that, politeness is kindness, and every opportunity to communicate should be accompanied by courtesy. For example, on the phone instead of saying, “What? I didn’t hear you ”try“ I am sorry, I can’t hear you well, could you please repeat what you said ”.

2.Texts should not be too informal, especially in professional communication. Compose words and use full sentences and minimize the use of emojis. 

3.Find agreement through communication. The investor-tenant relationship doesn't have to be a "winner takes all" situation. Everyone can benefit from a win-win solution and finding one through communication is the key. 

4Avoid distractions. Third-party comments and conversations, driving a car, children, and ambient noise can interfere with good communication.

5.Try not to make assumptions. You may quickly think that the tenant doesn't care or he is avoiding you. Remember that assumptions breed misunderstandings and conflicts.

Need more advice on managing your multifamily property, schedule a management services consultation call with me.