At a previous job, we had a customer who asked us for help all the time about how to market his business better. We finally had to tell him his business was suffering because of him - he was difficult to work with and his own customers didn’t want to deal with him.
An effective business runs on multiple levels, and as a landlord a lot has to do with you.
For New Residents
When they come to sign the lease, go over what the lease says because they probably won’t do this on their own. By going over the lease you will be able to let them know about what fees might come up in certain situations and about the rules you have for living on your property, like how long guests are allowed to stay.
After they’ve lived on your property for about a month, follow up with them. This is a good move for several reasons-
You can check up to see how they treat your property
It lets them know you are available and approachable
If any issues have come up, it’s a perfect time to address them early so they know you’re serious or
Allows them to tell you comfortably what issues they are having
For Residents in General
Keep up with the repairs. Repairs that aren’t fixed on a reasonable timeline can cause a lot of tension. Even the small, seemingly insignificant ones. If your resident has told you about a needed repair, don’t brush it aside.
Be consistent in following the lease. It’s your property so make sure they follow your rules. Also, if you’re strict with one resident but not another, word will likely get out and the one will resent you for playing favorites. This will not go well for you.
Be available so they can get a hold of you. Let your residents know when they can contact you and stick with that schedule. It can be frustrating for residents if they are trying to communicate with you about something important but can’t.
Consider your residents’ requests. If they would like a hot tub on the property but that’s not going to happen, let them know your reasoning for this. If they would like an option to pay rent online, look to see what software company would be a good fit for you.
Try to know who your residents are. This, however, comes with a caveat. Also respect their privacy. It’s a fine line you will have to determine with each resident. When others feel that you care, it can help resentment from building up. But others don’t like to be bothered beyond apartment checks and repairs. If you have a difficult time reading people and figuring out their preferences, ask them. They usually know the answer.
