Owning rental property is generally a good investment. Having a tenant can help you cover your mortgage and maintenance fees for the year, but it isn’t always easy. It takes time and effort to find the right tenant and to maintain a positive relationship with that tenant, which is essential to ensure your property is continually bringing in income. Here are some easy ways to maintain a positive relationship with your tenant so you’re both happy.

Take the time to thoroughly screen potential tenants

Tenant relationships start even before a tenant moves in. It is important to screen your tenants thoroughly to ensure a mutually successful experience for you and your potential tenant. A thorough screen must consist of a credit check, previous landlord check (if applicable), reference checks and employment verification. Take the time to verify all references and employment by calling and speaking to the references. This will give you insight into the tenant and make sure it is the right fit. Working with a realtor can definitely assist in the screening process as well, but always double check your realtor is doing the due diligence required!

Set expectations at the beginning

A formal lease agreement is necessary for any rental property, but having a specific schedule added to your lease is always a good idea. In the schedule you can outline details that are unique for your property. For instance, you can outline if there is any backyard maintenance required or who is responsible for the pool servicing. This will paint a clear picture of responsibilities for both landlord and tenant. Disputes often arise around maintenance of properties so it is better to be overly detailed than to leave room for misinterpretation or confusion. Ensure to lay out any specific policies (like no smoking indoors) so it is clear to the tenant what they are and are not allowed to do while living in your property. 

Take Care of Your Property + Keep Records

It is important that you (or your property manager!) have a clear system for taking care of any maintenance needed on your property. If you are not available on a daily basis (as things can come up when you least expect them), it is worthwhile to hire someone to be on call for your tenants. Make sure your tenants know the procedure on how to reach out for any maintenance requests and are clear on expected timelines for any maintenance projects. Once a project or fix has been completed make sure you keep this for your (and your tenants) records. It is also important to do regular maintenance in between tenants. Just because you are not living there yourself does not mean you should let the maintenance of your property fall to the wayside! It is important to visit your property regularly (with adequate notice for your tenant) as issues may arise that your tenant may not bring up. A yearly inspection is also highly recommended to ensure your tenant is keeping up with your lease agreement. 

Managing a tenant can be tough, buy laying a foundation fora good relationship is key. Start out on the right foot, do your due diligence and continue to be invested in your property even when not living there.Sticking to these guidelines will help ensure you and your tenant are happy.Not sure landlord duties are for you? Feel free to reach out to discuss our tenant management services, we have packages that work for all types of properties and budgets. 

‍