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People sometimes have an odd idea about what the relationship between a landlord and a tenant should look like. While there are bad tenants and there are unscrupulous landlords, most landlord-tenant relationships are like other service-provider and client relationships. In this case, the landlord is providing a service that the tenant is paying for.
A good relationship between a landlord and a tenant can be beneficial for both parties. The tenant enjoys stable housing in a home that is regularly maintained, while the landlord enjoys a steady income and the peace of mind of knowing that they will get their rent paid and that the property won’t be needlessly damaged.
So, how can you foster this relationship with your tenants?
Tenant Screening
The first step is before you have any tenants at all. If you want a good relationship with a tenant, you should find tenants who are more trustworthy in the first place. You can screen your applicants to make sure that they suit your property.
You can’t legally refuse to rent to someone for reasons that could be considered discriminatory, such as because of their race, gender, religion, or sexuality. However, when you screen your tenants, you should look at their credit record, as well as their previous rental history, employment history, and any criminal records.
If someone has a history of heavy debts or other bills they can’t reliably pay, you might want to choose someone who is more likely to pay their rent on time.
Clear Communication
Once you find a tenant who is a good fit, you should consult an attorney to make sure that your lease agreement covers all of your bases. This should include the security deposit, as well as how much the rent is and when you expect it to be paid. You should also discuss things like property inspections and other expectations or concerns that both parties have.
Keep the lines of communication open. If you ever want to raise the rent or discuss something related to the rental agreement, make sure to do so clearly and in writing. This is better for you and the tenant.
Regular check-ins or updates can keep your tenants up to date with any changes to policies or upcoming inspections. You also want to tell your tenants when you’re avaliable for routine questions, as well as what they can do during emergencies. They should have your contact details, especially if there’s an emergency, but setting actual times when you’re avaliable prevents you from having to deal with non-emergent situations at times when you just want to relax.
Understanding Landlord Responsibilities
Before you become a landlord, it’s vital that you become familiar with the legal requirements and responsibilities of a landlord. These can differ from state to state, so if you own a property in another state, you need to also be aware of the local laws for landlords and tenants.
For example, in one state, you might need to give a certain amount of notice before evicting a tenant. You might not be able to raise the rent as and when you want to. You might also have to keep the property at a certain standard of habitability when you’re renting to tenants.
An attorney can help you to keep on the right side of the law. You should also make sure that all correspondence relating to the property or your rental agreement is in writing, so if there’s an issue or dispute, you can handle it quickly and legally.
Regular and Respectful Property Inspections
One of these responsibilities is to regularly inspect the property. Regular inspections are good for you and the client, as they allow you to maintain the property and keep it safe. Some regular maintenance like checking the plumbing and electrical systems aren’t optional. You also want to check for other issues that could crop up, even through wear and tear. The sooner you spot a problem, the cheaper it will be to fix.
But this doesn’t mean that you can just pop in and out when you please.
When you rent a property out, the tenant has the right to an expectation of privacy. While you own the property, it’s still legally their home. The best option is to schedule inspections at times that are convenient for tenants. Give them proper notice and make sure that you or your property manager comes at a reasonable time.
Be respectful and aware that you’re in someone’s home. An inspection doesn’t give you the right to go through someone’s private belongings.
Dealing With Late Rent
Every now and then, a tenant might struggle to pay rent on time. If this is a regular problem, you might have grounds to evict the tenant. In this case, you need to make sure that you give them plenty of notice and potentially a pay rent or quit notice, where they have to pay by a certain time or end the tenancy.
However, this might not be the only or best option. Online rent collection could be an easier method for tenants to pay, and it can prevent regular late payments. Or, if someone usually pays the rent on time, it could be better to be lenient to maintain a better relationship with a good tenant.
When to Raise the Rent
How can you maintain good relationships with your tenants when raising the rent? Should you raise the rent?
There are upsides and downsides to raising the rent of your tenancies. Obviously, raising the rent does provide more opportunities for a higher income and, more importantly, as the costs of managing a property increase, you might need to raise the rent to match those costs.
However, you could risk losing good tenants if you raise the rent too much or too often. Depending on the rental market, people could move to a cheaper property if the rent is raised too high.
If you do decide to raise the rent, it’s best to do so when the lease is renewed and provide plenty of notice.
