If you’ve managed to attract good tenants for your property investment, it pays to keep them around for as long as possible. As finding, interviewing and selecting the right tenants is a costly and time-consuming process, maintaining a productive relationship is key to being an effective landlord.
Plus, there’s nothing worse than your investment sitting empty because your tenants have decided to move on. To help you retain high-quality tenants and secure the future of your investment, we’ve highlighted a few key considerations that ensure everyone remains on great terms.
Take an active role
Although it’s easy to forget, being a landlord is much the same as any other customer-facing job. This means taking an active role in finding out how happy your tenants are with the property and what can be improved.
Even if these are only minor details that don’t need to be solved right away, it shows you are listening to concerns and willing to respond to feedback. By adopting an empathetic mindset, you can develop a mutually beneficial relationship.
Deal with problems quickly
Handling problems is simply part of being a landlord. As every property is bound to need maintenance and repairs eventually, the best way to keep your tenants happy is by dealing with these issues quickly.
If you receive a call that the plumbing is leaking or the door won’t shut, don’t put the problem off until tomorrow. Instead, get in touch with a tradie or handle the job yourself if you have the skills.
Establish reliable communication
Tenants find it incredibly frustrating when they can’t get in touch with their landlord. Whether they need to discuss an issue with the rent or a maintenance concern that might need your attention, ensuring they have a reliable way of communicating with you is essential.
For instance, make sure your tenants have your latest phone number and email address so they can reach out as required. Plus, try to respond to non-emergency concerns within 48 hours. This way, your tenants won’t get annoyed as they spend days waiting for a response.
Respect their privacy
Take the laws and regulations around respecting the privacy of your tenants seriously. While you might be the homeowner, you have to understand that your tenants expect the same level of privacy as you do in your residence.
This means you shouldn’t drop in unexpectedly or constantly get on the phone to ask questions that don’t need immediate answers. If you do have to get in touch, schedule a time with enough notice to ensure everyone is properly prepared.
Speak with the experts
Looking after an investment property and tenants is a complicated job. Rather than handling the task yourself, hiring a talented property manager to represent you will put your mind at ease. Get in touch with InStyle Property Management to chat with an expert that helps you achieve your goals.