It is important to foster positive relationships with tenants for a number of reasons. First, building ire and negative relationships benefit no one in the end. It also helps prolong the length of a contract, which benefits everyone.
But how exactly can landlords foster this positivity? How do the best landlord-tenant relationships form and stay maintained over the years?
Forbes discusses how landlords may foster positive relationships with tenants. First, be open to conversation and communication. Stay approachable, and have the willingness to work through difficult financial times together with a tenant rather than immediately turning to litigation.
Trying to evict a tenant is a potentially long and costly process that can take up to a year and will surely result in bad blood. To avoid this, it is important to work with tenants who you feel you can trust. For example, if one tenant normally pays on time but has a period where they are down on their luck, consider working with them to create a payment plan until they can financially recover.
Next, value transparency. Have regular meetings or newsletters that alert the community about what is coming down the line, and current happenings with the property. Consider polling or asking for opinions frequently, too, as giving people a say in their home fosters a feeling of responsibility.
Invest time and money
Finally, remember to invest. If you try to cut corners and buy the cheapest fixes for problems or ignore problems entirely, this will build negative sentiment. Instead, try to fix the major concerns of residents as fast as possible and pursue all changes with the residents in mind.