Renting is a financial choice for many people, but a ‘difficult’ landlord can easily make consumers question their decision, and cause tenants to leave as soon as they can.

But when a landlord has a good relationship with his tenants it will be much easier to organize repairs if needed, retain those tenants and to show the property to possible new tenants.

This applies not only to owners but also to agents that manage your property. With these tips you’ll become the landlord that residents love to rent from:

1. Do this to let your tenants feel at home

It’s definitely worth the while to make your tenants feel at home the moment they walk into their new house. Provide them with handy information like specifics on the nearest shops, schools or the gym. This, and a welcoming gift or ready-made meal will definitely help them to settle in quicker and imagine themselves living in your property for a long time.

2. Don’t hide anything and be as honest as you can

As tenants are expected to be honest and timely when it comes to deposits and rental payments, an owner and/or the agent must be truthful when answering questions about noisy neighbors, traffic in an area and cell phone coverage.

3. Make sure your tenants get hold of you

Nobody wants their tenants to call them at strange hours of the day, but you must also be reasonably available. Give them a number to call during business hours as well as an email address where they can reach you or your agent. Email communication is preferable since it has the extra advantage of a written record of all communication between you and your lessee.

4. Don’t delay; react!

While expecting punctual payments from your occupants, you must be as quick to respond to your tenants’ concerns regarding repairments, noise or security.

Unless an emergency, you or your agent should only be called during business hours but deal with the problem as soon as it is reported. Monitor progress to ensure that the work is completed properly and on time when making use of an outside contractor.

5. Flexibility is a virtue

Life happens and sometimes a situation may arise when your tenant can’t pay on the first of the month as the lease agreement stipulates. Your tenant should be able to approach you for a little leeway in the event of an emergency.

It is not necessary to accept the repetitive late payment but when a tenant usually pays on time and in full, they will appreciate some tolerance when they have a genuine problem. The likelihood of them returning the favor when it comes to renewing their lease or accepting a rent increase is quite good.

Dr. Hannes Dreyer
Dr. Hannes Dreyer

Hannes is one of the world’s leading authorities in Wealth Creation. As a speaker and author on the subject he is at the forefront of this personal development industry. He is the founder of the Wealth Creators University and the Wealth Creators Method. The University is a private education organisation based on the culmination of 30 years of experience, research and study into finances, economics, psychology and philosophy.