It's estimated that 36% of the nation rents their housing. The relationships these renters have with their landlords and property management companies can vary widely. In most cases, they remain fairly neutral.
Unfortunately, many landlords can experience downright hostile relationships with their tenants. This can make navigating the rental experience twice as hard.
If you fall in this category or just want to improve your Richmond tenant relations in general, you might be wondering how to remedy this communication problem. In this guide, we'll go over some tips on how to enhance both your landlord-tenant communication, as well as overall satisfaction.
The Importance of Strong Tenant Relations
If you're a landlord who likes to see ROI, you might be wondering why strong tenant relationships can be a benefit for your property. When you get on a first-name basis with your tenants and treat them with respect they're more likely to be satisfied with their renting arrangement.
These tenants are more likely to follow the lease agreement and pay their rent on time. What's more, they're also likely to treat your commercial property with respect and communicate about things like maintenance and repairs.
Most importantly, good tenant relations means your tenants are more likely to renew their lease which saves you time and marketing money.
Respond Quickly and Clearly
You should give your commercial tenants your contact information as soon as they move in. Tell them your hours when you'll respond (outside of emergencies).
When your tenants contact you, respond as soon as you can. It's all right if it takes you some time to get a vendor out to them. However, if you take weeks to respond it won't look good for your relationship.
Address Any Concerns
It's estimated that 43% of renters have health concerns about their property arrangements. This might be related to something like pests, mold, or water quality.
Ask your tenants if they have any concerns about the commercial building. And, if they do, address them with permanent solutions. This will go a long way toward showing your tenant you care for them.
Hire a Property Management Company
You might not have the time or social energy to develop tenant relations. In these cases, we recommend hiring a property management company. These companies act as the face of your renting operations.
They answer any questions or concerns your tenants might have for you. What's more, there are lots of other benefits that come with them.
Just make sure you choose one that's personable. Otherwise, they'll just treat your tenants like numbers on a sheet which can damage tenant relations.
Need Help Improving Tenant Relations? Contact PMI Presidential
We hope this guide helped you learn more about building strong tenant relations. The secret to strengthening these relationships is to put in time and effort.
Unfortunately, many landlords are too busy for either of these things with their commercial real estate deals. Luckily, we here at PMI Presidential have all the resources to provide speedy communication with your tenants.
That way, you get all the benefits of tenant relations without the work. So if you're ready to make your life easier get in touch with us today.
