• Home
  • Blog
    • Business Partner Magazine Archive
  • About Us
    • Cookie Policy
    • Disclosure Policy
    • Privacy Policy
    • Terms of Website Use
  • Contacts

Business Partner Magazine

Tips and advice for entrepreneurs, start-ups and SMEs

  • Business Success
  • Marketing
  • Finance
  • Employees
  • Technology
  • Start-up
  • Productivity
  • Communication

Why Is It Important to Develop A Fantastic Landlord/Tenant Relationship?

July 26, 2021 by BPM Team

Click here to get this post in PDF

Too long to read? Enter your email to download this post as a PDF. We will also send you our best business tips every 2 weeks in our newsletter. You can unsubscribe anytime.

Enter your NameEnter your Email Address
red and blue neon light signage for rent

If you’ve recently chosen to invest in real estate, you already have plenty of plans to grow your property empire. However, running a property business and becoming a landlord comes with its share of issues. For example, many landlords can face problems with the wrong tenants, despite them passing the vetting process. To prevent issues from occurring, landlords must understand the benefits of developing a fantastic landlord/tenant relationship to put their minds at ease. 

Your Tenants Will Feel Safe 

Your primary focus for your tenants should be their safety no matter how old the property is. Demonstrating that you have their best interests in mind will immediately endear them to you, and this gives you the foundation to build a strong relationship. As a landlord, you should take care to obtain all the necessary certificates and understand the different fire alarm system grades to keep the property safe. If you remain on top of this, you will dramatically reduce the number of issues your tenants bring to your attention. 

Your Tenants Will Treat the Property With Respect

Every landlord wants their tenants to treat the property like their own. However, some tenants can think that they can do whatever they please in the property. Landlords and most tenants understand this is not the case. If you work hard to build a positive relationship with the tenants, they will be happy to treat the property like their very own home. They will be keen to give their living space that sparkle cleaning upkeep and act fast after any damages, and they will be honest with you regarding how these damages occurred. This means you won’t need to spend as much on renovating the property once they move out. 

You Will Keep Your Property Occupied 

Most tenant contracts will last 12 months with the option of an extension or using rolling contracts after the contract ends. The better your relationship with your tenants, the more chance they will remain in the property for as long as they need. As a landlord, you should consider the risks of an empty property, including a loss of income and the potential for break-ins and other damage. If you can rely on your tenants to occupy your property, you won’t need to worry about these risks.

Your Reputation Will Grow 

Tenants are not the only ones who require references. Landlord reviews can impact you. If you make the tenant’s life difficult, they are less likely to provide a good review after they move out. However, working hard to build a prosperous relationship will guarantee your reputation grows within the industry. This will make it easier to find new tenants and give you a steady income stream that allows you to invest in more properties. If you have plans to grow a large property portfolio, a strong reputation is crucial. 

Summary 

Running a property business can be as easy as you make it. If you put in the effort to develop an excellent tenant relationship, you can mitigate many of the common issues that landlords face, regardless of the tenant. By attending to issues quickly and being open in your communication, you can look forward to many years of success as a landlord.

You may also like: What is Subletting? Tips for Landlords, Tenants, and Subtenants

Image source: Unsplash.com

Filed Under: Featured Posts, Property Tagged With: Featured Post, landlord, property

  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube

Disclosure

We earn commissions if you shop through the links on this page.

Recent Posts

  • A Guide to the 5 most common types of campaigns within Google Ads
  • 7 Reasons to Start Accepting Bitcoin in Your Business
  • Your Choice Matters: Trust in Direct Sales
  • Three Ways a VPN Can Benefit Your SMB
  • The Ultimate Guide to Skip Tracing for Real Estate Investors

Categories

Archives

Ad – SEO Marketing School

SEO Marketing School

Tags

Accounting apps bitcoin brand business growth business skills business success communication cryptocurrency Customer Service Data design ecommerce Efficiency employees Featured Article finance finances Health and Safety infographic insurance Investing investment IT legal legal services legal tips Management Marketing marketing strategy productivity property Real estate sales security SEO Social Media software starting a business startup Technology Trading Training website workplace

Disclosure

We earn commissions if you shop through the links on this page.

SEO Marketing School

Business Partner Magazine

Business Partner Magazine provides business tips for small business owners (SME). We are your business partner helping you on your road to business success.

Have a look around the site to discover a wealth of business-focused content.

Here’s to your business success!

Copyright © 2022 - Business Partner Magazine·