Savvy landlords know that the key to a successful property empire is variety. Are you courting tenants with cash burning in their pocket or low-earners whose rent takes up most of their wage? The answer is to look to all parties, catering to both with the same level of high-quality service.
But being a top-notch landlord takes more walk than talk.
You can’t leave tenants hanging around waiting for repairs, you can’t keep them in the dark about lease renewals and you can’t give them rude and unsatisfactory service. Well, you can – just don’t expect a repeat customer.
The finest landlords, no matter who they’re serving, know that being a fixer is the name of the game. If you’re leasing property after property then fobbing off your tenants, your agency will go down the toilet quicker than the career of a disgraced actor.
With that in mind, we’ve racked our noodles to give you tips on how to treat your tenants fairly, no matter who the client.
The beautiful basics
You’re a potential renter viewing a flat. Everything seems above board – until you sign the lease. Once you’ve moved in, you notice the mould in the bedroom wardrobe, the dodgy tap in the kitchen and the squeaky floorboard in the hall.
Even the shakiest of marriages has a honeymoon period. But do you really want your relationship with your tenant to start with a flurry of complaints about your property?
Before allowing prospective renters to move into your property, ensure that there aren’t any skeletons in the cupboard. Leaving that mould to fester and that tap to stick will only leave you with further, more severe repairs in the future.
A simple connection
Tenants don’t want to be harassed for inspections and consultations every week. They want their house to be a home, preferably without a nanny-letting agent haranguing them at all hours. But they also want someone who’s easy to contact, personable and able to facilitate repairs with ease.
If you’re a small agency and don’t want to be harassed by emergency repair requests at every waking hour, invest in a virtual receptionist who can take your calls for you during your off-hours.
But the tenant/letting agent relationship is a two-way street.
Be prepared to check up on your properties every six months or so to ensure they’ve come to no harm. When it comes to contacting your letters, balances is key – enough to know your property is safe and not enough to irritate your customers.
Know the business
You aren’t the only landlord in your city. There are plenty more – and some of them could make perfect contacts.
Reach out to other people in your field to find out how they treat their tenants, what they view as fair repair times, who the best contractors are, and what to do when you’ve got a renter from hell.
There are plenty of avenues to make business contacts within your field. Hit up LinkedIn, create a networking event in your local area, or simply give similar companies a call. After all, the savvy landlord isn’t afraid to ask for a helping hand.
Article Courtesy of: Shop Property