There is a certain level of inevitable vulnerability experienced by all landlords. While you constantly remind yourself that business is business, and this home is an investment, it is hard to avoid having an emotional attachment to your property. You have made a substantial financial commitment to this home; many view it as their retirement fund. With this in mind, you are careful about who you trust your home too.
The importance of screening your applicant properly cannot be overstated, but neither can the importance of treating them and your tenants properly. It is hard to find a good tenant in this rapidly changing market, and if you are not careful about how you treat them, even the most perfect tenant can turn your life into a nightmare.
The relationship between a tenant and landlord, or Property Manager, is just that: a Relationship. The rules that apply to all other types of relationship also apply here. Certain ingredients must be present or it is doomed to failure.
All too often, honesty is sacrificed in the cause of being unwilling to risk giving offense. It is called providing good customer service or being careful, but in many cases, the applicants or tenants view it as nothing more than a lack of honesty. People want the truth, even sometimes when it is hard to swallow. What is even more important, people respect those who tell the truth despite knowing that it may not exactly endear them to their audience. Should you present the facts with tact, being careful not to deliberately give offense? Absolutely. But tell the truth.
In this day and age, the ability to communicate with ease is paramount. And yet, many tenants complain about never being able to contact their landlord. It’s not only good business to make sure they can contact you with ease, but it is also common sense. Situations arise without warning where it is in the best interest of the owner to be in contact with the tenants. Lack of communication leads to:
- Tenants being unable to report repairs, which leads to:
- Shorter tenancies
- Lower rents when you attempt to rent the home the next time around
Respect is the infrastructure of all relationships. Nothing is more important to a tenancy than mutual respect. If your tenant does not respect you, they will not respect your wishes concerning the home. If you do not respect them, regardless of the reason, it will breed animosity between the two.
Trust is the foundation of the tenancy. Trust in the tenants, to take care of your investment and trust in the owner, to maintain it. Relations between the Tenant and Owner are built on it. If it wasn’t for the tenants needing a home and the owners needing a tenant in their home, the two would probably never meet. They have to trust each other to do what is necessary for the relationship to work.
Landlord/Tenant Relations at Empire
Here at Empire, our staff strives to conform to the four. Our Property Managers in particular, as those who have the most frequent contact with tenants and applicant, are careful to treat everyone with the respect they deserve. They are careful to give them the truth, but with tact. The presence of honesty encourages trust and respect.
Communication at Empire
The hardest part of being a Property Manager is the fact that you are always available. Emergencies happen, and they normally chose to occur on family holidays or Christmas Eve. Our emergency line is always open to tenants. Our owners can sleep easy knowing that we are on the job.