Owning a property and acquiring the title “landlord” can be quite satisfying as there are numerous financial benefits associated with a property. In fact, rental properties are some of the most significant investments.
However, with profits come hurdles. Even the savviest landlords have one or two encounters with terrible renters— every property owner’s worst nightmare! Those tenants who that care less about anyone’s assets, do not respect your property, untidy, unruly, and worst of all never pay rent on time. Any veteran landlord can comprehend what I’m talking about!
It is imperative to heed that there are no straightforward solutions for managing difficult renters. Arduous tenants exist in every economic status, class background and profession. In most cases, you may never notice them as they start out very charismatic, friendly and appear to have a great personality.
While handling problematic tenants may seem daunting and somewhat unavoidable, evicting or raising your rental property fee isn’t the best solution. It will only create more unnecessary vacancies and bad reputation.
It is very reasonable for anyone to get angry when people disrespect or abuse your rules and that too on your property!. The landlord-tenant case is no exception. Difficult people are often manipulative, they will play with your good intentions and appeal to your emotions to get sympathy.
If a tenant has broken one of your property management rules, calmly approach the person and let them know the trouble they are causing. While saying this, make sure that you sound professional, allow logic and common reasoning to guide you. Your rules should be realistic, strict but fair.
Difficult tenants sometimes arise as a result of poor property management or simply due to a lack of clear-cut rules. When a tenant moves in a new apartment, environment, or place, they first start by familiarizing themselves with the newness of the site.
This is where the landlord comes in, the relationship the two of you create laboriously determines how that particular tenant will behave in the coming weeks, months, or years.
From the first meeting, you should ensure that your actions, speech, and appearance reflect how you want to be treated. Reprimand on time and remain strict and professional till all the tenants are familiar with your expectations.
Perpetually keep in memory that your tenants are all from different upbringings. Some come from very diverse societal cultures and may need time to adjust.
Let your tenants know that they can approach you whenever they have an issue with either their neighbors or the property management. This should also be kept professional – not calling your cell phone at midnight because some neighbor’s child won’t hold it together!
This should be your first option, primarily if you don’t like to interact with your tenants. A certified property manager, will get the job done regardless of how the situation may get. Property managers can go a long way in establishing a long-term tenant-landlord relationship through mediation.
It is generally noteworthy to develop preventative as well as manageable measures before a problem strikes and quickly get out of control. Such practices may help protect your property, your esteemed tenants and also help keep you off troublesome renters.
You can partner with OHI in managing all your real estate outsourcing needs- rental property related issues, accounting, maintenance support and more in a structured and professional manner and ensure a hassle-free property management!