PROPERTY MANAGEMENT
How to achieve an effective landlord / tenant relationship
By Rorisang Macheng
In the previous About Time newsletter , we wrote about tenant retention and that an integral part of this is tenant relationships . In this article we look at how the relationship between a landlord and their tenant / s can be improved , how a good landlord / tenant relationship is vital and what to do when a dispute arises .
Fundamentally , both the landlord and the tenant are looking to have a good working relationship . A positive professional relationship will work both ways and give peace of mind to both the landlord and the tenant . By having a positive landlord / tenant relationship in place , both parties will be able to reap maximum rewards and hopefully enjoy a stress-free tenancy .
What is a landlord / tenant relationship ? Landlord / tenant relationships are all about meeting each other halfway in the rental property business , maintaining a balance that is profitable , effective , and favourable to both parties during an active lease period .
Importance of landlord / tenant relationship With the current economic situation we are facing , we are experiencing times where tenants and some property owners are struggling , the increased emphasis on unity and support could have a lasting effect on alleviating the burden . For example , negotiating lease terms and renewals accordingly . A positive relationship also helps tenants to feel secure about their tenancy agreement . This creates a dynamic relationship where tenants show greater trust in their landlords which further encourages cooperative behaviour . For landlords , having a healthy tenant relationship means a higher tenant retention rate , profitability , receiving notice of minor repairs needed before things get out of hand , and having the confidence that your tenants are caring for your property as if it were their own .
Tips to maintain the landlord / tenant relationship For landlords :
• Screen potential tenants
• Draft a thorough lease agreement
• Ensure expectations are known by your tenants from the start
• Enhance good communication with tenants ; rent collection , scheduled building inspections and maintenance etc .
• Listen to tenants – encourage open communication and be approachable
• Elaborate on your maintenance response policies and procedures - upgrade the property accordingly
For tenants :
• Read through your lease
• Be sure of the maintenance tasks that are your responsibility
• Pay rent on time
• Keep the property clean
• Maintain your property
• Be open to suggestions
Managing landlord and tenant disputes If an issue arises between the landlord and tenant , it is best to start by having an initial discussion . Communication should start informally , raise issues and await feedback or a response from the other side . If you do not come to a resolution and the matters persist , then proceed to a more formal approach by writing an email , create a paper trail and clearly state your expectations .
If informal discussions and writing does not yield the required results , then you need to consider other routes to find a solution including terminating the tenancy .
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ISSUE 51 - SEPTEMBER 2022