It seems that when many decide to become landlords, they forget that in addition to their property being a revenue source, that it is also a place where families live. It may be property in your portfolio but for the people renting, it is a place of tranquility, its where memories are being made and its a place that makes them feel safe and secure.
While becoming friends with your tenants is not something many landlords would do and rightfully so, your tenants should not have to wonder if you will be responsive to their needs. They should have a sense that when there is an issue that you will be proactive. Just because you are an owner and they are tenants does not mean they are without means to purchase. Some landlords feel that their tenants are beneath them and will treat them with the attitude of we will get to you when it's convenient for us, this is not a good way to approach any business.
At Pink Door Management in the Orlando Florida area, we treat the tenants with respect and we also let them know that any maintenance issues are covered as quickly as possible. This creates goodwill with the tenant and can actually create a source of referrals. Not everyone who can own wants to own. If you treat your tenants well, they could be a revenue source for years into the future. Finding good tenants can be rewarding in many ways outside of just a steady revenue source.
Make sure that you keep up with what your tenants need and don’t be afraid to schedule time to check on your property as well. The tenants knowing that you are proactive where your investment is concerned will be an incentive for them to keep things looking and running well. Tenants who know their property managers care will be more apt to report potential issues sooner. Deferred maintenance can create a lot of issues down the line and when your tenants are aware that you are mindful and care about your property, they will contact you at their earliest convenience when issues arise.
At Pink Door Management, we make sure to let the tenant know what they are responsible for (things like changing the air filters once a month and the batteries in smoke detectors) and what they should reach out for. At Pink Door Management, we are responsive at all hours leaving you with peace of mind. While we would love to assist you in being a landlord, wouldn’t it just be easier to allow us to do all of that extra work for you? You can relax and let us do the focus on your property and your qualified tenants that we helped place while you focus on finding your next investment. Screening your tenants in advance or hiring someone with experience like Pink Door Management to help you with these types of services can make the difference between a great tenant who helps you maintain your investment versus a tenant who just sees your home as a temporary space. If you set the standard, you can not only enjoy virtually worry-free opportunities to earn with your investment property but you may find that your tenants will help you find new tenants for other homes you may purchase as investment homes.