3 Tips for Building Healthy and Profitable Landlord – Tenant Relationships

The reason for so many issues that arise is lack of communication.

If a tenant doesn’t know what is expected of them, they are bound to disappoint.

As expectations are different for each person – for each landlord, for each tenant, it is best to get on the same page BEFORE any party is contracted to the other. It’s more work upfront but will pay off in the year or so that you have a great tenant looking after your investment in a way you find acceptable.

3 Tips for building healthy and profitable landlord- tenant relationships

1.Set Expectations and stick to them yourself. 

Understand the tenancy agreement and stick to it. Don’t allow tenants to break any part of it, and equally don’t break any part of it yourself. It will leave too much room for error if you change your mind on a term and allow tenants X. When they want Y they will refer to earlier and think it reasonable, they mightn’t even ask for permission.

There are times when you can be flexible but this should be for minor changes only, agreed upon by all parties, documented in writing and circulated to all.

2.Respond to Tenants in a timely manner

If you expect tenants to get back to you within X time frame, it is only fair that you get back to them within the same.

Eg. For maintenance requests, you probably won’t have a tradesperson there in an hour but you can let the tenant know you received their note and are looking into it, you will get back to them about this in X timeframe.

3.Share information – point out the obvious

You might need to point out things you think are obvious, especially if your tenants are new to the country or to renting.

Things like acceptable noise levels, that tenants must let you know if repairs are needed, that tenants must not allow rubbish to accumulate in or outside the unit, when they leave they must take ALL personal items away. You might even include what will happen if the rent is not paid.

All this can be found in a good tenancy agreement.

Tenant Source finds and places tenants for independent property investors who then manage themselves.

We advertise, hold viewings, screen tenants, sign up tenants and more for a one time advertising fee to the landlord from $39.

Check out our packages on offer at https://tenantsource.co.nz/