So at this moment you’ve purchased your very own rental home and are ready to rake the cash in. Well let me tell you that you want to maximize your acquisition by making sure that you have rental tenants that are trustworthy and are delighted to rent from you.
This is a business and it's essential to treat it like one. You need to make sure that you establish the rules in a friendly manner and remain a professional when it comes to the contracts that in cooperation you and the rental tenant must abide by.
Here are 10 ways in which you need to be conscious of to ensure a great connection with your rental tenants.
1 Your word is your bond
If you keep your word it will respond. Should during the home inspection the rental tenants notice something that needs to be fixed then by all means repair it. Not next saturday when you’re released from prior obligations but within a day or so. Once the rental tenant sees that you happen to be good to your word subsequently that will cause them to want to make you pleased as well.
2 Provide incentives
If times are hard economically in that case provide free rent for a month. Sure it may be cash out of your wallet in the short term but real estate is mostly a long term investment decision. By sacrificing a single months rent compared to 3 years of steady rent payments is a small price to pay.
3 Be professional at all times
You can be sociable and professional at the same time. Remember this is a business and your economic outlook relies on your selection of rental tenants. It's essential to confirm your authority from the get go or else you might be taken advantage of.
4 Be prompt in responding
If the rental tenant calls you for some type of concern whether it be a broken window, door jam caught, neighborhood conflict in which case you must demonstrate good faith and follow up as rapidly as you can. As soon as your tenant knows that they can rely on you responding to their requests then you have sealed another form of admiration and shared agreement with each other.
Ensuring that the rental tenant feels protected and secure within your rental property is really a chief focus that you must continue. You'll be able to achieve this by installing surveillance cameras surrounding the residence otherwise boast an interior security system which will make your tenants genuinely feel good.
6 Remember your tenants
You will know your rental tenants names and pertinent information including birthdays that you have within the application form. Sending out birthday cards at the proper occasion goes a long way in building your credibility as a human being. Disregard that you’re a landlord and they're going to perceive you as a reliable friend.
7 Always show your best side
You have to make sure that your best side is always shown in public. Especially to your tenants that are making you be established in your future long term goals. At all costs try and be on your best behavior whenever you meet with your tenants.
Ensure that your tenants can expect prompt response from you for reasonable
expectations. If they are unreasonable then you have to explain the situation to them. For instance if the tenants want a new roof because they don’t like the type of roof that’s on the house. Well if it isn’t leaking then there is no need for another type roof.
Reasonable expectations are just that. Be professional and friendly at all times.
9 Tenant Selection
A lot of future problems can be eliminated if you do your background homework in the first place. References to the tenants must be followed up and validated. Running credit checks is a must to make sure that they pay their bills on time.
10 Pay on time
Payment of rent is really important. If everything is in order then rental payment is part of the natural course of the process. In the early months of the rent payments it would be advisable to collect the rent payment in person. This will ensure to the tenants that you are prompt and expect to be paid for you letting them rent your property.
Being appreciative and finding out if they are happy with your property is also important to find out.
Following these 10 guidelines will ensure your way to a great relationship with your tenants that can go a long way for you. Follow these steps and you will be rewarded as you put the effort out to maintain these relationships.
Strategic Rentals helps people learn about about the exciting and profitable world of investing in rental properties
to attian the kind of lifestyle that they want for them and their families. Come over to www.StrategicRentals.com
and check out the great source of information and help with every aspect of owning rental properties.
Article source: http://www.appraisalarticles.com/Real-Estate/4102-10-Ways-to-Ensure-a-Great-Relationship-With-Your-Rental-Tenants.html