How to Foster Good Relationships with Your Tenants

Maintaining good landlord-tenant relationships is vital to ensuring a good return on your investment property. 

Poor relationships with tenants will likely result in higher vacancy rates and lower annual revenues.

True, each landlord-tenant relationship is unique; however, when handling tenant issues, there are a few key points to keep in mind that can make for a smoother resolution process. For example:

Listen to tenant concerns. Tenants may be understandably upset when there are issues with their units; one way to ensure that you and the tenant are on the same page is to ask him or her to submit a written description of the problem. This minimizes misunderstandings and avoids emotionally charged face-to-face discussions.

Respond in a timely manner. Once the tenant has notified you of an issue, respond quickly. And let the tenant know when the issue will be addressed.

Respond according to the severity of the situation. If a tenant contacts you about a burst pipe that is flooding the unit, obviously you will respond differently than if he or she reports a loose door handle. Have an emergency plan in place to address major problems, and communicate this plan to your tenants so that they know what to expect.

Be empathetic. Your property investment is also your tenant's home. Show you care about the building and the tenant by being genuinely concerned about its maintenance.

A positive landlord-tenant relationships ensures that your tenants will notify you quickly of small problems that can become big ones.