Education and news for smart DIY landlords!
It doesn't matter if you're a new landlord or have been running a rental business for years. Communication is an important ingredient to a landlord's success. It helps you maintain a positive relationship with your tenants. Without proper communication, you could lose tenants. You may end up dealing with vacancies. Or worse, in court!
A friend of mine shared her experience with communication. She admitted that at the start of her journey, she had a lot of frustrations about dealing with tenants. When she took proper communication seriously, she noticed that most of her problems went away.
In today's guide, I'll be sharing top communication lessons that every landlord should keep in mind.
Clear communication begins the moment you put up your rental listing. You need to show prospective tenants the actual condition of your rental property. People need to know what they're paying for.
While many landlords prefer text-based communication, it's also a good practice to be open to different communication channels. This is especially true if you're renting to tenants of all ages - young and old. You may have older tenants who prefer speaking with you over the phone. Meanwhile, younger tenants may prefer email or a messenger app.
Nothing disappoints a tenant more than a landlord who is often unavailable or rarely takes the initiative to respond to important messages. Regardless of how your tenants notify you (based on your agreement), make sure to provide a time-frame where tenants can expect you to respond and address the situation.
Most states require landlords to provide notice to tenants 24 to 48 hours before entering the property. Don't surprise your tenants by sending handymen or contractors to fix an issue without informing them beforehand. Your tenants will appreciate the advance warning.
If you want people to treat the rental property in a certain way and behave as renters, make sure that you're being clear about it. Your lease is your best friend here. Aside from the lease, reminding your tenants in a respectful manner helps, too. Do not lose your cool.
The most effective landlords communicate using simple language. When they need or expect something from tenants, they refrain from using big words to sound smart. To simplify an idea, they may even tell a story. They ask questions to make sure that a tenant has understood what has been said. They specify timelines.
At the end of the day, understand that we're all human. And as humans, we yearn to be in harmony with those around us. A rental property business doesn't have to be perfect to succeed. Sometimes, all it takes is a mutual understanding between landlords and tenants. Effective communication is the solution.
If you’re ready, make Landlord Prep your go-to resource for landlording education. Here, we offer a complete DIY landlording course to get you on the right track. Join our academy today. If you want, you can check out Flavia’s real estate investing webinar first!