Are you feeling overwhelmed in today’s world? Between quarantines, homeschooling, and murder hornets, you are not alone! It seems like the peace of mind has never been further away for Schertz property owners.
You may be wondering how to focus on the working relationships you have with your renters right now with so much else going on. However, as your Schertz property management expert, at Real Property Management Campanas, we understand the importance of tenant relationships and the overall impact they have on your rental property.
This is why we recommend building these relationships now when they’re needed most—and maintaining them even when they’re not.
A quick foreword: This article is not intended as a substitute for medical or legal advice. If you’re facing a challenge with your renters that requires a competent attorney or expert Schertz property management skills, reach out to us for more guidance!
Showing Compassion During Someone Else’s Time of Need
During any crisis—which seems to be all of 2020 so far—we have seen varying forms of compassion from countries all around the world for a multitude of reasons. Even on a local scale like right here in Schertz, the capability to show compassion for one another is paramount to building and maintaining a lasting tenant-landlord relationship.
Consider the following:
- Have you ever been asked to change the date your rent is due? It doesn’t happen often, but there are some tenants whose payment schedule is just off a week or two from when rent is usually collected. A great example of this is teachers who get paid around the 10th or 15th of each month. Consider a flexible collection date if it will not affect your financial obligations. This flexibility can provide peace of mind to you and your tenant.
- There might be other lease terms you can negotiate with your tenants: modifying their start or end date, renegotiating the conditions needed to break your lease, allowing additional days for guests to occupy the home or even considering pets when you may not have before are all ways to boost relationships with your tenant.
These little changes should always be captured in writing when making changes, but it’s this small bit of flexibility and compassion that can mean so much—and lead to a lease renewal.
It’s worth going over these changes with your trusted Schertz property management partner to ensure that any additions or subtractions to your lease agreements are airtight to protect you and your renter.
Keep an Open Line of Communication
Communication is a fundamental component of property management. For property managers, communication goes far beyond the typical “A-B” conversation.
- Conversations with tenants are usually emotionally charged. Listening and hearing your tenant’s concerns, rather than looking to respond, provides you a better opportunity to speak with your tenants effectively.
- Effective communication breeds success! Together, you and your tenant can successfully resolve any issue related to your property, accounting, or maintenance.
We have found that plenty of situations that could have led to eviction can be deterred or altered merely by working on and enhancing communication with renters.
Consistency Builds Stability
A stable relationship between a landlord and a tenant is a prosperous one. However, how can you stay consistent when everything around you is constantly changing?
- Responding to your tenants in a timely manner may seem elementary, but it’s one of the most important ways to show consistency as a landlord.
- Be sure to address maintenance requests quickly and follow up with your tenants to make sure the work is completed to everyone’s satisfaction.
- Answering the phone and responding to texts or emails promptly shows your tenant you are invested in them too.
- Satisfied tenants are more likely to pay their rent on time, properly maintain your investment, and have a greater chance of staying in your home long term.
A long-term tenant is not only ideal as a property investor but also provides years of peace of mind to you as a landlord with each lease renewal. As Schertz property management professionals, we mentioned how communication is crucial—consistent communication is even more vital! Especially if you end up needing to enforce certain terms in your lease.
Enforcing Your Lease with Empathy
Although we are witnessing some historic moments, we still have contracts to enforce and other financial obligations to adhere to. How these contracts are executed during an emergency will make or break the relationships between a tenant and a landlord.
- Review your late fees policy during times of financial stress faced en masse, and consider offering payment plans for your reliable renters in need.
- When eviction may be on hold nationwide as the result of a crisis, consider alternative means for settling disputes, including working on a plan to help renters voluntarily vacate as needed.
- Document the steps you take to work with your renters regardless of the reason: this will serve you down the road should you need to act on it.
Cooperation Is Key!
Cooperation is defined as an act of working or acting together for a common purpose or benefit. What everyday concerns do a tenant and landlord share? How can you, as a landlord, cooperate with your tenant?
- The obvious commonality is to provide a safe and liveable environment. An investment property to you, as a landlord, is home to your tenant and their family. Keep an open mind when reviewing general maintenance and other special requests. If your tenant would like to add built-in shelves for a work-from-home office, ask for plans, vendor references, and negotiate payment options. After all, something like this could add value to your home.
- If your tenant would like to add a trampoline, above-ground pool, or swing set to the backyard, review your contracts and insurance policies for restrictions on these items. These outside activities may or may not add value to your home, but they would add considerable value to your tenant’s family.
- How are you collecting your rent payments? If you’re still using paper, cash, check, or money orders, consider these other forms of flexible payments.
With compassion, communication, consistency, and cooperation from all parties, you can successfully maintain your relationships, in and out of crisis mode. Remember, we are stronger together!
To learn more about how you can extend compassion, cooperation, consistency, and communication even in rent collection, contact us online or call us directly at (210) 314-1039 today!