A property management or property rental business is a nice way to make money. The investment can be big, but the returns can be big, too — depending on how you manage the complex and your clients.
That said, building a harmonious client relationship is something that you should invest in. Remember, your tenants are the source of your income, so it pays that you are nice to them. Whether you are already a seasoned rental property owner or a newbie applying for an apartment construction loan to start a rental business, these tips will help you become a great landlord.
Have a Personalized Approach.
A one-size-fits-all approach to tenant management is not going to work. You have to keep in mind that each tenant is unique — each has varying needs. With this, you need to make sure that your service and approach to each of your tenants is different. They will love you for it.
Respect Your Tenants.
Respect is the ultimate foundation of a good landlord-tenant relationship. Do not be nosy, and always respect their privacy. As much as you can, avoid topics on politics and religion, especially if you know that they are staunch defenders of a certain belief or ideal. There
is a right place and time for that, and trying to advocate your political or religious beliefs to your tenants might just do more harm than good.
Nothing irks a tenant more than an unreliable landlord. Put yourself in their shoes. Wouldn’t it be frustrating to be kept waiting when your unit is flooded, and your landlord isn’t picking up their phone? You wouldn’t like it if they did it to you. Be reliable always.
Becoming a good landlord can be difficult. However, there’s no reason you shouldn’t try. If you can’t be nice and friendly, at least be reasonable and fair. All it takes is basic human decency.