With around half of Private Landlords now choosing to manage their property directly with their tenant rather than utilising the services of a Letting Agent, it is even more important to maintain good relationships with tenants.
Investing Time As Well As Money Can Avoid Legal Challenges
Taking the time to cultivate and maintain positive working relationships with your tenants can be the difference between amicably discussing and settling disputes and a costly claim under your Landlord Insurance or another type of legal action.
Working on relationships also creates value by maximising tenant cooperation with timely rent payments, property upkeep and longer rental terms.
Good Relations Starts With Tenant Referencing
Like any relationship choosing the right partner at the outset significantly increases the chances of long-term success.
Conducting robust tenant referencing on prospective new tenants is a wise way to ensure a mutually successful experience for you and the applicant, and it is an effective risk management tool.
Tenant referencing presents a small level of upfront cost.
Still, the risk of not performing the screening on tenants could have more serious financial consequences, resulting in lost income, property damage or even litigation costs.
Elements of a thorough tenant referencing typically include:
- Credit check
- Previous landlord verification
- Identity verification
- Employment verification
Good Property Maintenance Equals Happy Tenants!
Taking measures to properly maintain the premises sends a powerful message to tenants.
It proves that you take your role as a property owner seriously and encourages them to take pride in the condition of their rented space.
Better still, it could bolster relationships and lessen the probability that they take legal action in the event of an incident or dispute.
Take these measures to be prepared for maintenance issues:
- Establish a procedure for dealing with maintenance requests that guarantees prompt service to tenant requests and maintenance issues.
- Create, clearly communicate and promptly enforce policies regarding shared spaces, such as non-smoking policies.
Although you may not be expected, or able, to guarantee the safety of tenants, their visitors and/or guests, as the property owner you do have a duty to exercise reasonable care to protect them from foreseeable events.
What’s more, good security measures will make tenants feel safe, benefiting your relationship with them and lowering the likelihood of legal action.
They can also potentially lower your Landlord Insurance premiums, either through a reduced level of claims or via a discount for enhanced security protection.
Service Focus Is Critical
As a Landlord, it is sometimes easy to forget that tenants are technically your “Customer” and by taking extra steps to make tenants feel welcome helps to create a cooperative relationship that is unlikely to end in legal actions.
Small gestures like the following can dramatically improve the relationship you have with tenants.
- Prompt, polite responses to requests (even if they are sometimes ridiculous!)
- Support during moves
- Clearly outlined policies and swift enforcement for all tenants
FREE Property Insurance Review
Managing relationship will help you manage risk more effectively, this fits hand-in-glove with your decision in terms of which risks you are prepared to carry yourself and which you would prefer passed to an Insurer in the form of Let Property Insurance.
Insync specialises in all forms of property cover including HMO Insurance, you can Compare Landlord Insurance Quotes Online via our website, alternatively, why not book a free review with one of our expert Gurus at a time that suits YOUR diary.