58% of renters have had at least one landlord they didn't like. 25% don't like their current one, and 30% feel they can't trust them.
How can landlords avoid this massive problem? What should you do to create a positive bond based on trust and respect?
Read on to learn five key tips for improving tenant relations.
1. Set Clear Policies
Your lease is your first chance to tell tenants what you expect from them and what they should expect from you. Make it comprehensive and include policies about:
- Rent payment
- Security deposits
- Maintenance responsibilities
- Pet policies
- Evictions
Explain these policies clearly, including the penalties for breaking them.
2. Communicate Effectively
Communication improves tenant relations as much as it does any relationship. Provide multiple open channels.
Listen and respond to their requests or concerns as soon as you can. Give a general timeline for any issues you can't resolve immediately.
Address any conflicts impartially. Listen to both sides and work to find a solution that benefits everyone. One of the best landlord-tenant tips when you can't find a middle ground is to get a neutral third party to help.
Get regular feedback from your tenants about what you could do better. Ask them to complete surveys or participate in meetings to tell you what changes they'd most like to see. It shows that you're devoted to continually improving their experience.
3. Proactive Maintenance
Conduct regular inspections. They help you spot lease violations or maintenance issues.
Respond to maintenance issues as soon as possible. It keeps them from becoming a major problem later.
Invest in new upgrades and amenities. Perhaps the appliances are too old and need replacing. Improvements to the common areas could make them more comfortable. New features such as fitness centers or outdoor spaces could make the entire building a better place to live. Focus on your tenants' feedback to find out what they'd like to see.
4. Respect Tenant Rights
Los Angeles landlords need to keep up to date with the laws in the area. They give your tenants rights you don't want to step on. Not following the law can ruin your tenant relations. It can also leave you with financial or legal penalties.
Consider how often to perform inspections without invading their privacy. Always give tenants at least 48 hours' notice. Encourage them to walk through the property and accommodate their schedules.
5. Promote Community and Offer Incentives
Building tenant relations isn't only about how they feel about you.
Organize holiday parties, summer barbecues, and volunteer opportunities. These social opportunities allow them to feel more connected to the property and each other.
This is one way to encourage lease renewals, but you can also reward long-term tenants. Offer them gift cards, thank-you notes, appreciation dinners, or even months of free rent.
Who Can Help Me Improve My Tenant Relations?
Tenant relations are key to a profitable business. The best ways to improve them are by setting clear expectations and communication, proactive maintenance, respecting their rights, promoting community, and offering incentives.
PMI Los Angeles is a full-service property management company. We provide professional, friendly service. Our state-of-the-art technology will keep you up-to-date on your investment at all times.
Our goal is to help you set the maximum rent each month and achieve the value of your investment over time. Contact us to get started today.
