The estimated median house or condo value in Hammond, Indiana, was $131,700 in 2021 versus $182,400 elsewhere in the state. So, you can potentially get the rental property of your dreams for a discount in Hammond.
One thing you'll see as a property owner, however, is that finding quality tenants is just part of the challenge. You must also provide the service that gets these occupants to stick around.
So, you need to know tenant relations best practices and how to go about it.
Continue reading to learn how to treat your tenants the way they deserve to be treated. You'll see that good communication skills will make all the difference.
Ensure You're Available
One way to build good landlord-tenant relations is to ensure your tenants can reach someone anytime they have questions that require answers or problems that need solutions. If they can't reach you, they'll be dissatisfied.
That's one reason many residential and commercial property owners retain property management firms. Investment property owners realize they can't afford to be on call 24/7, so hiring third parties to help makes sense.
Tenants can contact the property manager and receive the customer service they expect.
Maintain the Property
When people rent residential or commercial properties, they expect proper grounds upkeep. You should consider hiring a property manager unless you want to be tethered to your property.
Performing routine maintenance and tackling repairs promptly will improve your relationship with tenants and increase lease renewals.
Keep Tenants in the Loop
Another way to improve relations with tenants is to ensure they're kept up to date on what's going on around the rental property.
If maintenance and repairs will disrupt tenants' day-to-day affairs, you owe it to them to give advance notice of when the work will be done. Property management is essential, but keeping tenants in the loop is also vital.
It's really about respect. Ensure tenants know how long the work will take and what impact it will have upon them. You can nip many issues in the bud by being upfront and available to answer any questions.
Automate Rent Collection
You can make things easier on yourself and your tenants by automating the rent collection process.
It'll be easier on you since you won't have to knock on doors to get rent, and it'll be easier on your tenants since they won't have to write checks monthly.
Hiring a property management firm will make rent collection even easier since the third party you hire will have a system to automate rent payments.
We Can Help with Tenant Relations
You can't afford to take your tenants for granted. Having good tenants who pay rent on time every month will make being an investment property owner easier. That said, you need to treat your tenants properly to avoid problems.
If you want help with tenant relations, get in touch with us at PMI NWI. We can assist with tenant relations, property management, and more.
Check out the range of services we offer and reach out when you're ready for a confidential consultation.