Traits of a successful landlord

Tenant-landlord relationships are one of the pivotal points that helps ensure peaceful and healthy neighborhood. This relationship is even more crucial for the landlords or property owners since it is a business in itself, and just like any business customers has to be treated well and fairly in other to rip benefits in the long run via good referrals and contract extensions with existing tenants. 

The aim here is not to encourage landlords to work to appease every single tenant, this is not possible and of course everyone’s needs can be different, some even illogical in their demands, however, the key take away is to introduce some of the generally recommended practices and ways to keep the interest of the majority.

Some of the base tenets that characterize a good and successful landlord include the following:

Accountability

Renting business requires a lot of documentation and these documents can be really delicate with regards with the consequence that ensure if or when lost.

Things like proof of payments, meeting discussions, settlements among many other things are stuffs landlords will have to deal with all through their profession and how they deal with them is very crucial to gaining the approval of tenants. Having proper documentation of activities and paperwork against future demands and neatly and securely filling them away demonstrates accountability and professionalism, the right ingredient for success in real estate.

Trustworthy: 

Nothing can be more denting to a landlord’s reputation as being noticed as a crook or dishonest person in the midst of the tenants. Tenants will need to trust you if they are going to stay and so it is important to be transparent and reveal things as they stand. Make promises only when you’re sure to fulfill them, when cost of maintenance is an issue, make it clear and you gain the tenants admiration and trust and also get to keep them. 

Selfless: 

Selflessness is essential to gaining good reputation and maintaining success as a landlord. It is important not to be too focused on self-interest to extent of leaving the tenants stranded and in distress. You can’t get good recommendation with that kind of approach. Always reconsider any venture that could possibly bring harm to the tenants notwithstanding the gain, provide clear and relatable reasons for making any changes like hiking the rents, or installing unnecessary structures and this way you will be acting selfless, everyone will appreciate you and your property will be in hot demand.

Communication: 

With relationship between two or more individual, like in a real estate business and other related fields, communication is key and its importance can’t be over emphasized as this is the best way to keep everyone involved on same page and so not have the tenants make random assumptions – which in most cases will be tilted towards the negative end. It is import to have a good communication channel between the tenant and the landlord, in cases where there might be concerns, quarrels or confusion to ensure peaceful and orderly environment.

Distance:  

There is rarely anything that will get as annoying for a tenant as landlords who can’t mind their business and will be interfering with the affair of their tenants. So long a tenant pays the dues and observes the prerequisite conditions provided before being let in, nothing else the tenant does as part of their lifestyle should be of interest to the landlord. Tenants’ lifestyle and decisions are there’s and there’s’ alone, the landlord must not come around to start a show of power and “who must be feared” by trying to micromanage tenants life and decisions, it is awful and will not be to the landlords’ credit.