Getting a lease signed is far from the last step when conducting a successful rental business. Building a good relationship with your tenant is crucial to securing long term renters and increasing your return on investment (ROI). Here are 3 key tips to help you start out on the right foot with your renters:

1. Be personal, yet professional

While you are running a business and should remain professional, making sure tenants are comfortable with you, the property, and the area is a great place to start. Get to know the renter’s habits, interests, and needs so you can best equip them for success in their new home and location. Moving can be an intimidating experience so making sure newcomers feel welcome and knowledgeable of their space from the start is essential to building a good relationship.

It’s important to remember your tenants are human and may sometimes need a little flexibility, just like you. Don’t become a doormat and always take note of the situation, but offering a grace period for rent time-to-time isn’t essentially going to break your business. Establishing mutual trust and respect can be something that keeps tenants coming back.

2. Organization is optimal

Having clear documentation of everything that relates to your lease agreement is going to make life for both you and your tenant much more simple and desirable. Write down all payments, requests, and any other communications between you and your renter to avoid any scrutiny or confusion down the road.

It’s also critical to have a record of all methods or processes that will help you maintain the property during your tenants stay. Renters don’t like to be ambushed or neglected by formalities like routine property inspections. Put a well communicated system in place for any in person check-ins and keep track of your tenants needs to give them the most gratifying experience.

3. Consistent communication is key

Your renters want to feel like they are truly being heard. Establish open and easily accessible lines of communication where any questions, concerns or complaints can be addressed. Consider checking in every couple weeks or so, especially in the beginning, to make sure everything is going smoothly with the property and your renter feels settled into their new home. If there were any problem areas in your residence listed in the lease, make sure to ask tenants about them specifically and be on top of updating them on any needed repairs. This will help reassure the renter they chose a trustworthy landlord that will maintain their needs as they would their own.

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