How to ensure a positive experience for both tenant and landlord
Ask anyone to tell you their own ‘rental nightmare’ experience, and no doubt they could roll off a story or two. From unexpected rental increases, to delayed maintenance repairs, and even dodgy neighbours, many of us would be able to showcase a library of intricate and unfavourable storylines.
As a landlord, there’s always ‘bumps in the road’ and unexpected costs often requiring a juggle of finances. Yet, how do you retain your positive stance, ensuring your tenants are privy to your understanding and commitment to their comfort and safety whilst leasing your investment property?
Let’s look at a few ways we can positively influence your status, whilst creating raving fans as tenants, be long term or short.
1: Engage a Property Manager
It’s undeniably the best decision you’ll make as a landlord, engaging in a professional and well-equipped property manager. If this is something you haven’t yet done, then make this your first priority when refreshing your landlord ‘image’. A property manager will make your life so much easier; freeing yourself of the immeasurable stress that comes with the management and upkeep of your investment and your tenants.
Your property manager plays an integral part in keeping your tenants happy. Their exact roles will be varied, dependant on the management plan, their fees, and the type of property managed, however their role remains imperative, regardless. From tracking maintenance requests and upkeep, to managing budgets and overseeing operations and administration. An excellent property manager will ensure your investment property is meeting your needs as an investor, cross-checking your property against other comparable properties, adjusting, and maintaining a competitive edge amongst the current market.
2: Your offering
Preparation is king, here. An investment property isn’t a ‘set and forget’ type situation, it requires continuous nurturing, with the most invaluable care provided well before a tenant even lays eyes on the property.
Prior to advertising, it’s best to visit the property and view it with the intent of living there yourself. When you view the home as if you were considering moving in, it can help you identify areas requiring attention. Whether it be an overgrown garden, a dodgy laundry tap or faulty pilot light on the hot water system, the more attention you provide to eliminating problems prior to the tenant’s move-in date, the more positive experience the tenant will have.
And don’t forget, offering a well-maintained, nurtured property for lease shows your home is loved. It shows you care about it, and care about the people who live there, inevitably striving to create a safe and warm place for someone to call home. By showcasing a property that is well cared for, you’re in turn hoping to attract tenants who desire a home that is well loved and are prepared to continue your hardwork whilst they live there.
3: Act fast
One gripe we often hear when a tenant approaches us through frustration, is a lack of action from their landlord, when it comes to property repairs or maintenance requests. This is usually a really easy area to realign, and generally comes hand-in-hand when you engage with a property manager, as it often falls into their management offering. However, if after reading this, you are still set on managing your investment without the use of a property manager, please take note.
When a property request is voiced, and a repair is required it’s usually after weeks of disruption to the tenant, and generally, impacting their comfort, safety or feeling of security whilst leasing your investment. By promptly following up and acting upon any form of repair request, you are showing your tenant you respect them, and their living arrangements enough to ensure they feel safe and comfortable. This is a no-brainer when it comes to promoting a healthy and positive relationship between landlord and tenant.
How we can help
If you are currently self-managing your investment property and are considering engaging a property manager to oversee your investment, we’d love to hear from you.
Self-managing an investment can be a stressful and often draining exercise. Our expert property managers have experience with an array of properties, tenants and unique situations and would love to help you create a positive experience for both yourself, and your tenants.