Building healthy relationships takes a great deal of engagement and hard work and it is no different when it comes to the world of real-estate lending. Shaping a good relationship between landlords and tenants is crucial if the relationship is to succeed and prove beneficial to both parties.
Sometimes, the landlords refuse to take responsibility for due maintenance of the property. A landlord, who makes unreasonable demands, refuses to maintain the property to adequate measures and who consistently takes a heavy-handed approach, may also find that he has trouble with every tenant.
Tenants who take much care of the estate, have a history of timeous rent payments and who usually treat the property as their own are unquestionably going to have an easier time if something goes out of the way. Both individuals need to keep in mind that nothing in life is determined and there may be difficult times when, due to abrupt circumstances, rent payment may be delayed.
Landlords, in general, are not going to welcome the delay. Tenants who frequently pay late or who have virtually wrecked the property and generally cause mayhem are however unlikely to garner much sympathy from their landlord, regardless of how difficult are the times.
No matter how close the relationship, tenants must remember that they can only get out of the situation when there is a legitimate reason. It is wise to remember that your problems belong to you and expecting a landlord to remain sympathetic over an elongated time is unrealistic.
Renting out a property comes with some expenses that need to be covered every time the property comes up for lease. Keeping the time and energy it takes to find a tenant of good reputation aside, landlords also need to invest a lot in advertising costs, repainting the property and fixing any damage caused by the previous tenant, all of which generally digs into profits. Keeping a tenant in the property for an extended time is far more lucrative for all concerned. Long term tenants often find that the longer they live in a home, the easier the relationship with the landlord becomes.
As with any business arrangement, the terms of engagement must be clear from the start. Have a detailed written contract which covers expected behaviour from both parties and be sure to stick to it. Tenants and landlords have a right to be treated fairly so by setting out and agreeing on reasonable terms, the relationship is more likely to flourish than flounder.
Both Tenants and LandLords must keep in mind important things before signing in legal lease papers. Ideally, make sure that you meet your tenant before they move in. Try to build compatibility early so you can develop mutual trust as time goes on. You don’t need to be best buddies, but a good working relationship will help if and when any problems crops up. If a problem arises, make sure it’s dealt with, effectively and efficiently. Communicate clearly and if you agree on a certain course of action or deadline, make sure you stick to it.
A positive landlord and tenant relationship is invaluable and can be a huge asset. Having a reputation as a good landlord will boost the rental potential of your property and getting on well with your tenant should ensure that the tenancy is fairly hassle-free. Lastly, from a health and safety point of view, a positive relationship is much more likely to result in a high-quality living environment.
It is therefore highly suggested that both landlords and tenants open the channels of conversation and keep those channels open during the entire period of the lease. They will enjoy a far more relaxed business relationship based on all the right principles – Trust, Honesty and Respect.
● Share your experiences with us at email@example.com