Every Tampa landlord knows that a high tenant turnover is detrimental to their bottom line. That’s why many focus on building a healthy relationship with their tenants.
When you have a good relationship with your tenants, you can rest assured that there will be minimal problems to deal with. Besides, a good relationship will directly impact your lifestyle, comfort, and finances.
The following are 5 tried-and-tested tips to better your relationship with your Tampa tenants.
1. Offer Online Rent Collection
From finding responsible and trustworthy tenants, to routinely inspecting your property, to collecting rent – there is no doubt that being a landlord keeps your hands full.
Therefore, it’s important to take advantage of any opportunity that reduces stress for both you and your tenants. According to a recent study, more than two-thirds of landlords said that property management is more demanding than their full-time job.
Here are top reasons why you should collect rent online.
Paying rent online usually gets rid of risks that are involved with cash payments. In addition, you are likely to pay lower premiums on your insurance if you don’t maintain the cash on-site.
- Easier dispute resolution and audit tracking
Online rent payments generate digital paper trails so you can easily access the system to confirm or refute the claim.
- It lessens the past due on accounts
There’s a considerable reduction in incidences of late payments since there are various online options for payment like credit card, PayPal, and eCheck.
- Controls management costs
Online rent collection reduces the expenses associated with property management. This will help you cut down on operational costs.
- Improvement in customer service
Your team will spend more time focusing on marketing efforts and improving relations with tenants rather than collecting rent and processing paper checks.
When you provide this convenient service, you may even find that they pay rent on time more frequently.
2. Enforce Clear Rules
Create strict rules and adhere to them to demand respect and reliability from your tenants from the moment they move in.
To make sure all your bases are covered, your rules should address the following specific areas.
If you require a security deposit, indicate what happens if your tenants damage the unit. For instance, indicate that it’ll cost them $100 to fix a wall that has a hole in it.
To avoid any misunderstanding at the end of the rental or lease term, make sure to let the renters know that you expect them to return the property back in its initial condition.
Instead of repeatedly repairing fixtures because a renter isn’t using them properly, you can state what constitutes proper and improper use.
State the length of time of notice that you require your tenants to provide when they plan to move out. Usually, this period is 30 days.
If you allow your tenants to keep pets, indicate what kind of pets you will allow. For instance, be specific about the type of dog if you want to limit the size your renters may own. Also, if you do allow cats but not dogs, make it clear in your agreement.
A dirty apartment is a health hazard not only for the tenant but also for their neighbors. Establish clear cleanliness guidelines so you have an option to evict them if they violate the rule.
This is without a doubt one of the biggest problem areas for landlords. Aside from being unsanitary, uncollected garbage makes your property look run-down.
Generally, Florida landlord-tenant law requires that you give tenants at least 24 hours’ notice before entering the unit. To avoid any confusion, it’s a good idea to put this provision in your rental or lease agreement.
- When rent is due and when it’s considered late
This rule will discourage tenants from trying to get by with late payments.
If these rules are set within your rental agreement, these will give you enough legal recourse should your tenants violate them.
3. Have a Proper Tenant Screening Process
Make tenant screening
a priority. A thorough tenant screening process will ensure you cover your bases and protect you from a myriad of losses.
To better your chances of getting a good renter, make sure the renter:
- Has a clean background. Consider the entire history of the applicant and measure it against your standards.
- Has no previous evictions. A tenant eviction is probably the biggest red flag for a landlord.
- Has good references.
- Has an income that is three times greater than the monthly rent. If the tenant doesn’t make more than three times the rent, they may have trouble making rent payments over time.
4. Communicate Well
To be a successful landlord in Tampa, make sure you communicate often and clearly with your renters. By keeping the lines of communication open, you can avoid difficult and acrimonious disputes involving security deposits, move-outs, and lease policies.
Here are top five tenant communication tips for landlords.
- Send alerts to renters before repairs, maintenance, and showings.
- Be honest and truthful. Communicate all rules and regulations regarding the lease clearly.
- Give tenants multiple options to get in touch with you.
- Always respond to repair requests as quickly as you can.
- Have an “open door” policy.
If you have a relationship built on communication and trust and are on good terms with your tenants, things will be much easier for you.
5. Treat Your Tenants with Respect
Treating your tenant with respect will result in improved care of the property and better retention. Remember that your tenant is your business partner.
Fix problems immediately. The moment you begin slacking on fixes is the moment your renters will lose respect for the property.
Never drop in unannounced. No one likes a hovering landlord. Always give your tenants at least a 24 hours’ notice before dropping in.
These are the top 5 tips to help you have a better relationship with your Tampa tenants. Building a good landlord-tenant relationship with your tenant will help you avoid most of the issues landlords regularly run into. Wishing you the best of luck!
