Any seasoned landlord will know that the recipe for a successful letting is securing good tenants, and ensuring you keep them. Long-term tenancies mean less turnover, less administration and fewer void days.
A strong relationship between landlord and tenant can take the stress out of letting, positively impact the arrangement for both parties and ensure good retention rates and peace of mind.
Like any good relationship, the one that exists between landlord and tenant should be built on trust and mutual respect. From the landlord’s point of view, they have to trust that their tenant will look after their property as if it were their own and treat it with care. From the tenant’s perspective, they have to believe that the landlord will keep their home well maintained and a safe place to live.
It is predicted that rented properties will account for 40% of the market by 2025, so it’s more important than ever to invest in a healthy landlord-tenant dynamic. However, establishing and maintaining good relationships doesn’t always happen automatically and can require some management.
Here are our top tips for building a mutually beneficial partnership:
Communication:The first and perhaps most obvious step for a positive landlord-tenant collaboration is open two-way communication.
Landlords should be easy to reach, responsive to queries, straight forward and honest. Listen to the needs and expectations of your tenants and endeavour to try and meet them.
Communication works both ways and landlords should clearly articulate their expectations from the tenancy from the very beginning.
Tenants should keep their landlords updated on any issues they may not be aware of, allowing them to keep on top of any issues before they escalate. Tenants should also feel comfortable communicating any improvements they feel the home would benefit from, such as double-glazing or more efficient central heating. Despite the common preconception, most landlords are sensible and compassionate and will want to help ease any difficulties faced by their tenants within reason.
Overall, friendly and professional communication at all times will foster a relationship of mutual respect, which means any future issues should be easier to resolve.
Be efficient and responsive: When tenants report issues or concerns, landlords should ensure they are quick to respond. Not only will this ensure good relations with your tenants, but could prevent small fixes turning into costly repairs over time. Responding quickly and effectively will also increase the chance of tenants wanting to renew their lease or recommending the landlord at the end of their contract.
Landlords should also give plenty of notice of visits or changes to the tenancy, honouring any set agreements and commitments to your tenants. Keep an ear to the ground for any changes to legislation to ensure you are compliant and to protect yourself from any issues down the road.
Similarly, tenants must ensure to pay their rent on time each month and to keep the landlord informed in a timely manner of any changes to their circumstances.
Respect the property: A model tenant will treat the landlord’s property with respect, keeping the property clean and properly maintained, as well as being mindful of neighbours to avoid any complaints. Responsible tenants who treat the property as their own will ensure they get back their tenancy deposit in full. This will also go a long way towards a positive landlord reference in the future.
For landlords, investing in the maintenance and upkeep of the property is a sure-fire way to keep tenants content.
Keep on top of any maintenance issues and repairs and ensure the property is safe for those living there. Ensuring doors, entrances and windows are secure and alarms are in place will make tenants feel safer, and therefore happier.
Property Management: Landlords who opt to use a reputable agency to manage their rental properties can rest assured that both their property and tenants are expertly taken care of.
Jamie Newson-Love, Area Lettings Manager at Ashtons, comments: “Creating an emotional distance between tenant and landlord, the agent creates the space needed for each party to think more clearly and make better decisions. We can provide the professional knowledge, advise and action needed to navigate the complex legislation. We are also a sounding board for the best way forward.
You employ a mechanic to look after your car, a doctor to look after your health, why would you not have a trained professional look after your most important relationship; you and your home.”
Acting as a bridge between landlord and tenant, just some of the benefits of employing a property management service include; overseeing tenant communication, handling maintenance and repair issues, vetting tenants, rent collection, keeping you up to date and compliant with legislation, managing administration, and making you aware of any problems as they arise.
Our expert lettings and asset management team prioritise good relationships with our clients above all else.
Jamie elaborates: “For an Agent, repeat business and trust go hand in hand, so I focus on long term relationship building. It’s not just about the deal you are closing for your client today, it’s about the next one, and the one after that, and the one after that. Clients need to know that they can trust your advice and guidance, so building a connection with integrity is fundamental.
For Clients, I would say, be nice, kindness doesn't cost anything but can go a long way. Be honest with your intentions and requirements. Agents will want to go the extra mile for investors who are open, kind and respectful to them. We can get through anything when we work together towards a solution with trust and motivation.”
If you are a landlord and need advice on letting your property, or you are interested in learning more about our professional property management services, contact our friendly team today.