Some landlords assume that once they sign an agreement with a tenant, their job is done. They don't invest more in their relationship with their tenants and fail to communicate effectively with them during their stay.
This can lead to misunderstandings and a multitude of unresolved issues, missed messages, unfinished repairs, and ultimately the tenant moving out.
Good tenants are valuable to any rental business. So if you want to be a successful landlord, you should learn how to build a healthy relationship with your tenants and constantly communicate with them to make sure no major issue goes unaddressed.
Learning best practices in this area won't only help you retain good tenants but also will improve your reputation so more tenants will be interested in living in your property.
A study by SatisFacts, an authority on tenant satisfaction surveys, found that tenants can control more than 60% of the factors that lead to customer turnover. As a landlord, you can most easily control the management of your property.
This isn't something you should take lightly, as a study on the economics of tenant retention shows that tenants who are satisfied with the management of the property they live in are three times more likely to renew their lease.
Below are some practical tips that may be useful to you, whether you're a professional landlord or property manager or just getting started.
Go digital
In today's digital world, you can't just post a written notice on the bulletin board and hope tenants see it on their way out of the building.
Tenants expect convenience, transparency, real-time communication, and quick responses.
To maintain communication with your tenants, you need to invest in modern mass notification and property management solutions.
Get ahead of tenant issues
If you get ahead of your tenants' problems, they'll be happier with your property management. This is possible with the help of an efficient communication and property management system.
For example, they can help you get notified immediately about a broken washing machine or pipe in the building so you can let the other tenants know about the situation before you get multiple complaints from them.
This will also help you fix the problem faster, which will definitely lead to more satisfied tenants.
Be transparent
Transparency leads to trustworthiness. That's why it's important that you communicate any issue that affects tenants as transparently as possible.
For example, when you learn of a problem in the building, you should inform all tenants of the most important details. You should also tell them when they can expect the problem to be resolved.
Store all data in a single digital location
To better manage your property, you should opt for all-in-one digital solutions that offer a comprehensive range of services, rather than having multiple, separate tools.
This way you can store all your important information such as notices, requests, complaints, and maintenance costs in one digital place and easily access them later.
Create a solid communication plan
After you've figured out how to effectively use the digital solutions you've invested in, you should create a communication plan that works for everyone.
You'll need to determine the different groups that will be set up, such as groups for tenants and the maintenance team. You should also determine who should be invited to each group, who's the administrator of each group, what type of information should be shared with which members, who's responsible for what, how often regular communications should be sent, and what instructions should be given to group members so they can make the most of the communication platform.
Keep communication formal, but not boring
Your relationship with your tenants and maintenance team is a professional one, so you should keep it that way. But that doesn't mean you shouldn't share interesting information that might be useful to them.
In addition to providing information about general maintenance, service disruptions, emergency alerts, rent payment and lease renewal deadlines, and service requests, it's a good idea to let relevant group members know about local community and building events.
It's also a nice gesture to send congratulations to group members on important occasions like Christmas or New Year's Eve.
Diversify communication channels
While an all-in-one management tool with integrated communication solutions is a great option, it shouldn't be the only point of contact tenants and the maintenance team have with you.
For example, you should provide them with your mobile number so they can call you in case of an emergency or if there's an issue that cannot be discussed on the communication platform made available to them.
Segment your communications and define your target audience
If you want group members to take the messages you send seriously, you shouldn't send them too many or irrelevant messages.
You shouldn't message them several times a day either. Depending on the platform you use, you should set up different groups, channels, or sections for daily communication, scheduled messages, and emergency messages.
Send messages at the right times and to the right people to reduce the risk of message fatigue.
Ask your tenants for feedback
Listening to feedback from your tenants and your property management team is one of the biggest favors you can do for yourself.
Not only does it help prevent existing problems from getting worse, but it also provides you with valuable insight on how to become a better landlord and better manage your property.
By involving the people you deal with in decision making and taking their feedback into account, you also show that they matter to you and their opinion counts.
So use online surveys and polls to get their opinions on various topics and encourage them to participate.
Interestingly, there are some websites that allow you to easily ask others how they perceive you without having to create a survey or questionnaire from scratch yourself.
Meet with tenants when possible
Digital solutions have made most of what we used to do in person obsolete.
However, human touch is still important and cannot be replaced by even the most efficient tools.
If possible, take the time to meet with the new tenant to welcome them and assure them that you're available through various channels to help them settle in, answer questions, and resolve issues that may arise during their stay.
If that's not possible for you, at least hold an online meeting with them to welcome them and get to know them better.
You should consider meeting with your tenants even before you sign the lease to make sure you choose the right people.
By following these simple but important tips, you can have a healthy, lasting relationship with your tenants that benefits both parties.
