One of the most important components to being a successful landlord is forming solid business relationships with your tenants. A solid landlord/tenant relationship consists of both sides respecting one another and appreciating what each of you is bringing to the partnership.
The key is following through on your end of the relationship: a landlord who shows they respect and care for the tenants by being accountable and responsive to maintenance requests; tenants who pay on-time and continuously work towards leaving the property better than they found it. It is important to avoid letting a sense of entitlement seep into the relationship on either side as it can cause offense and crumble this relationship.
Getting off on the right foot with your tenants early on will set the pace of the relationship for the life of the lease. There are several benefits to being more than a faceless person that collects rent payments. Check out the video below and the full blog here: How To Effectively Begin A Landlord Tenant Relationship
If all else fails, and you find yourself unhappy to manage your rentals, please consider a property management company like Lofty. Here at Lofty, we take pride in managing the relationships and challenges that come with maintaining profitable investment properties. We offer a variety of services that can help you maintain low vacancy, high value and maximize profits while minimizing your actual time investment. Please reach out for a free consultation today!
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