5 tips for the perfect tenant/landlord relationship

Establishing a good relationship with a tenant from the very beginning will make a difference to your future. When you invest in property you need to be sure your tenants will help you look after it.

Start your relationship the right way can help you can benefit from a stress free future. But how can you ensure your relationship stays healthy and balanced?

Here are 5 tips you can follow:

1. Check References

Before your tenant moves in, the more you can learn about them, the more assured you can be that you won’t have a problem with them.
Requesting\Checking references from previous landlords is a good step to learning this information. You will discover if they are a problem and see how good their relationship was with their previous landlord.

2. Do financial checks

Can they afford your rental property? Have they had credit problems? Performing financial checks can help you to find out if they will have problems keeping up with your rental costs. Asking for a deposit can offer the security of damage to your property investment.

3. Does their tenancy agreement contain an Authorised Guaranteed Agreement?

This clause will offer your property let extra protection if your tenant assigns the lease and the assignee then defaults.

4. Communication

Communication is key. It is important that you always communicate and keep in regular contact. By speaking to them regularly you are more likely to hear any concerns\issues sooner giving you more time to act upon them.

5. Flexibility

Being flexible with your tenant i.e. in regards to payments or anything else to do with your property, can help for an easier relationship. By being flexible with them in the short term, this will give you earlier warning of when they are experiencing financial difficulty and can help you to protect your property investment.

Of course if your tenant is consistently finding it difficult to keep up their rents or are constantly falling into your arrears, then your tenant may not be right for your property let.