If you put in the ground work from the start, the time and effort will pay off.
Being a landlord is a business, fact, and for that business to blossom you need to nurture it from the start. You can’t just throw a seed in the garden and expect an explosion of colour overnight. You need to prepare the soil, plant the seed, water it regularly and keep it safe from frost. Then after all that hard work you will find that the seed has blossomed.
(OK, enough with the gardening references.)
There are hundreds of “the little things” you can do to ensure your relationship with your tenant is a positive one and some of the best are those that you do from the start of a tenancy. Here are a few things you can do to ensure that you have a positive relationship with your tenant and to see that your business is protected as much as it can be:
Be honest, understanding and listen
Tenants don’t want to think of you as the sleazy landlord out to make a quick buck. They want to know that you genuinely care. If they have questions or concerns before commencing a tenancy then answer them honestly. Understand their needs and listen to them, after all, you may end up knowing each other for a very long time. If a tenant feels they can trust you and rely on you then they will value the relationship as much as you do.
Get the formalities done, properly
Nobody likes paperwork but unfortunately it’s a necessity. Before the tenancy commences you will need to ensure your gas and electricity certificates are up to date (these are a big deal). Then make sure both you and the tenants are happy with the guarantor, inventory and tenancy agreement forms. The forms and contracts are there to protect both parties so make sure they are done correctly!
Getting involved? Get protection
Both you and the tenants need to be protected against any number of scenarios. Invest in landlord insurance to protect the property in case of disaster. A good policy will also help to provide alternative accommodation for the tenants if disaster does strike which will make them more comfortable knowing that they’re safeguarded. Also make sure you follow your legal obligations such as providing fire alarms and checking appliances. It all helps in putting minds at rest and keeping you on the right side of the law.
Be a Landlord who Compromises
So your property is decorated in a lovely shade of bright pink and flower stencils? Some people might not like that… Anyway, if your tenants enquire about redecorating then you should seriously consider it. By wanting to decorate it means that they love the property, love the area and want to make this rental property their home. Does that mean they’re in it for the long term? Yes! If they feel at home then they will treat it like their home. Of course you need to make sure that everything is agreed up front and preferably in writing (remember protection).
You will need to put in a lot of effort at the start of a tenancy but by taking the proper precautions and being genuine you may just find that in the long run your life be easier and less stressful just by doing thing properly from the start.