As a landlord, you want to make sure your tenants are taken care of. In return, your tenants will treat your property with respect. To help build a relationship with your tenants, here are three ways you can inspire them.
Communication is one of the most effective and misunderstood tools available to residential managers. Many of them feel powerless as they grapple with the task of keeping tenants transparent. Every good sales person knows one of the first steps to effective communication is listening. It may not always require managers to seek out tenants, but helping them feel comfortable enough to raise concerns is an important step toward building a profitable relationship. And knowing an issue will be quickly and adequately resolved may open those lines of communication and prove useful when future problems arise. Viewing a lease as a partnership might encourage residents to feel more accountable and become proactive where personal maintenance is concerned.
Managing property and keeping residents happy can be costly, especially for smaller, privately owned properties, but that’s all the more reason to ensure valuable tenants stick around. Rewarding every tenant who pays his or her rent on time, although admirable, is likely to prove counterproductive, after the expenses have been tallied up. However, going that extra mile to make tenants feel appreciated is not hopeless. Hosting a tenant appreciation party might win a few brownie points, and even residents who don’t attend may appreciate the effort. If the property is operating on a tight budget, try a potluck. They will appreciate the time and energy spent planning, and seeing management outside the office might give more reluctant tenants a much needed confidence boost.
Keeping The Neighborhood Safe
Safety is always a concern for current and potential residents. Let’s be frank. Things happen. However, knowing property managers are always taking steps to enhance the quality of the neighborhood goes a long way. And when it comes to things that impact overall quality, safety goes right to the top of the list, which cycles back to communication. Part of helping residents feel safe is keeping those lines open and ensuring they are comfortable enough to keep you in the loop. Believe or not, tenants talk, and what someone says about their current habitat could translate to future applicants. Encouraging and documenting feedback is a good way to keep track of improvements. A survey that allows residents to rate the neighborhood and leave comments shows that you are diligently seeking ways to make the area safer.