Article: Whenever you have a new tenant, make it a point to sit down with them and go through the lease in detail. Do your part to make sure they understand everything in it before they sign on the dotted line. If you rush your tenants through the signatures and give them a copy of the lease, don't expect them to read it later. This can mean they aren't aware of key policies, which can cause problems later on. Be prepared to answer questions if there's anything in the lease that your tenants don't understand or disagree with. Listen to their concerns openly, and be willing to negotiate but you also should stand up for your own interests and be able to calmly and rationally explain the reasoning behind any policies your new tenant doesn't like. You may want to mark or highlight key provisions in the lease that are likely to have a significant impact on your tenants' daily lives. For example, you might highlight the provisions regarding how to notify you of a maintenance issue. Keep this positive, such as by highlighting the incentives for paying rent on time rather than highlighting the penalties or fees for late payments. Particularly if your new tenants are moving from a different city or a different part of the country, they will appreciate information about the surrounding community. Address change information can typically be obtained from your local post office, and you can give these to new tenants if they haven't already taken care of it. Gather a list of names and addresses of local services of common interest, such as grocery stores and libraries. You might also include a list of restaurants close by, or points of interest such as parks and museums. You can put this information in a welcome package for new tenants. Fill a bag or box with small items that will make moving an easier task, as well as a bottle of water and a granola bar or other snack. A good landlord is accessible to their tenants. This means that generally, you should respond to any emails or phone calls from tenants within 24 hours of receipt. Set office hours when tenants can contact you and know you will respond immediately (or within a few hours). You also may want to set up an after-hours number for emergencies. Keep in mind that being a landlord is, in many ways, a 24/7 occupation. Make sure your tenants know how to get in touch with you. If you are going away, or if you don't have office hours on weekends, let tenants know this in advance and create an "away" message that lets them know when they can expect a response. While you should let your tenants know if there is a particular method of communication that you prefer, you should give them several different ways to get in touch with you, depending on the time of day they need to reach you. Many tenants prefer to email or send a message online rather than picking up the phone, so make sure this option is available. Use a dedicated email address rather than your personal email address for tenant communications. If you're not working for a property management company or are renting your own real estate without a separate rental office, you may want to get a separate phone line that is used exclusively for tenant communication. That way you can answer the phone professionally rather than personally. While you do want to be friendly with your tenants, you still need to maintain a professional relationship. Particularly if you live near the unit you are renting, it can become easy to slip into a more personal relationship. Keeping the tenant at arm's length puts you in a better position when it comes to making business decisions. For example, you might be inclined to let a tenant with whom you are close slide when they pay the rent late. This is a slippery slope that can lead to the tenant taking advantage of you and hurting your business. Be cordial with your tenants and treat them with respect. If they feel that you respect them, they will respect you in turn. One of the simplest ways to become a landlord that your tenants rave about and recommend to others is to reward good behavior rather than relying solely on punishments for bad behavior. Providing a small incentive for on-time rental payments will encourage tenants to do so. For example, you may offer movie tickets or a $25 gift card to a local grocery store to tenants who pay their rent on time six months in a row. You also may want to consider offering a small discount on rent, such as 5 or 10 percent, to tenants who are willing to pay several months of rent up front. Keep your rewards or incentives small and infrequent. A little goes a long way, and if you are too generous you can upset your profit margins. Give rewards too often, and your tenants may come to expect them.
What is a summary of what this article is about?
Explain the lease to new tenants. Provide moving resources for new tenants. Respond to questions or complaints promptly. Offer multiple avenues of communication. Maintain an air of professionalism. Reward tenants for paying rent on time or in advance.