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Should Landlords be Friends with their Tenants?

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by nancy
December 11, 2014
Category:   Investors, Real Estate, Tenants

Most of us like to be liked by everyone.  We try to please those who are around us.  But if you are a landlord, you have to put the business first as being to kind or friendly may not be to your benefit.  Your three most important goal should be:

  • Finding good tenants
  • Protecting the value of your property
  • Managing the property well

Global handshake

Remember that it is better to be respected than being liked if you are a landlord. By delivering what you have promised and being very clear in stating what you are expecting from your tenants, you can create a good relationship with them right at the start. By laying down the groundwork for a good relationship with a good tenant, you are on the right path to success.

In performing your duties as a landlord, you should not be too personal. The best way to go about it is to think of yourself as a property manager instead of the owner of the property. If you have an idea how rental property managers act, always ask yourself in any situation regarding the running of your business what would a property manager do. For example, when collecting rent from your tenants, ask yourself how property managers would go about doing it.

The reason why you should do this is that property managers are known for their businesslike manner. They operate in an efficient way without allowing personal feelings get in the way of doing their jobs. Granted, it is easier said than done but if you believe in what you are doing and if you want the best for your business, you can learn how to act like they do easily enough.

Basically, you do not want to be too personally involved with your tenants in any way. Small chats when you are collecting rent would not hurt but be careful that your tenant does not misinterpret your actions. Sometimes, tenants would think that because you are very friendly with them, they can ask for favors that would violate the terms of your agreement. Obviously, you have to be tactful in responding to cases like this as you do not want to come off as being arrogant.

When declining any favor being asked by your tenant, make sure that they understand why you are declining. If they respect you, they would not think differently of you. In fact, if you do it in a nice way, they could respect you even more.

 

 

credit to Kamryn Ruth on her article


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