Making Tenant Relationships Work: Four Essentials
It is not a secret that most landlords own rental property to make a profit. And, in spite of a number of risks and challenges built into the business, most do!
For tenants, however, the reality of needing to pay rent can inject considerable tension into the landlord-tenant relationship. Believing their hard-earned dollars enhance landlord profits will generate anger and resentment whatever the tenant’s financial situation is. While tenants earn a modest hourly wage, the story goes, the landlord “sits on his duff,” perking up on collection day. Because many tenants believe – or projectshall we say — that their landlords are doing well, and with little effort, forgiving some back rent or keeping rent increases modest seem fair in their view. Landlords shouldmake concessions, tenants argue, to balance the scales.
If you assume your tenants think this way, you may be less reactive, particularly when they become defensive or wholly self-serving. But how can you maximize cooperation with your tenants when what they may only see is you in the privileged position?
Here are four essentials – call them habits or principles – for building an effective relationship and maximizing tenant cooperation in any situation.
- Prepare effectively – and make contact
- Be friendly – but don’t be their friend
- Seek to understand before being understood
- Be reliable – and cultivate trust
Peter Gilman Shapiro, a Landlord Coach, Trainer & Author, has for over twenty-five years been empowering landlords to make a profit while making a difference in their communities. Peter’s innovative techniques led to the successful resolution of thousands of disputes over eviction, real estate, business, and family matters throughout Metropolitan Boston since 1990.
Peter’s new book: The Good Landlord: A Guide to Making a Profit While Making a Difference, shows landlords how effective communication, relationship building and conflict resolution can enhance their peace of mind, profits and positive impact. For more information, please visit www.TheGoodlandlord.com