Landlords

Who Are Today’s Renters?

When have you heard that tenant screening benefits tenants? It does and here is why.

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Landlords and property managers who screen their prospective tenants care about their rental property. They want to know who is getting the key to an expensive piece of real estate and they want to ensure that it's going to be looked after. They want to make sure that the rent will be paid and on time. This all serves to

Generally shows that pride is taken in presenting you with a nice livable rental accommodation.

Tenant screening, weeds out high-risk tenants that may be a risk factor to you or your family, either from a physical perspective or a stress related factor. Think about it ... would you want someone that resorts to crime for a living, residing in the same rental community? Someone who threatens you or a family member

Owning a property management company

or just renting out a property or two, is a tough business even at the best of times. As a landlord,

you have to deal with the Challenges from other people as well as your own. This can often seem endless and exhausting.

There is a silver lining to all of this

This is the perfect time for you to create goodwill between yourself and your tenant(s). Any show of faith and understanding during

this period will create a lasting impression and maybe even cement your reputation as a considerate landlord. Here are a few tips you can make use of -

Be more unflexible with rent payments

Your tenant may not be as financially sound as before. They lost their source of income. Unexpected medical bills could have put a dent in their savings. So if they communicate with you about being unable to pay part

of, or the full amount - exercise compassion. Talk to them about paying rent, or make other arrangements to suit both parties. More importantly, do not impose any penalties on late payments.

Do Limit your visits

Unless it’s an absolute emergency (i.e., house-is-on-fire kind of situation), do not visit your tenant. It may be construed as an irresponsible thing to do when there’s a pandemic raging

all around. More so if your tenant or any of their family members are immuno-compromised in any way. If you’re selling a tenant-occupied property,

Don’t increase rent unless necessary

It may even be unlawful to increase rent right now, as several local governing bodies have passed legislation to freeze rent at 2020 levels. This is a gesture aimed at relieving the financial burden of the tenant at a time when the economy is suffering a downturn.

Check in with your tenant

More so than often, do show concern for your tenant by reaching out to them in some way. Make sure they are doing okay. Ask them if there’s something challenging you can help with. Not only

is this basic human decency, this is also key to building a Professionally lasting landlord-tenant relationship by Showing that they aren’t just cash cow in your eyes.

Keep Emergency Contact Information For Tenants

It’s Smart to maintain an updated list of contacts for all of your tenants, no matter the age, healthy or sick. So that you can be prepared for handling literally any kind of scenario, which makesa lot of sense considering that everyone is going through a harrowing time right now.

It is always better to expect the unexpected.

stride through this pandemic smoothly,

With all these things in mind, you can , with a great deal of respect for you as a professional landlord.

While times may be challenged, it is healthier in the long run as there are numerous benefits to presenting
yourself as a more understanding and compassionate landlord.

You are likely to attract more loyal and grateful tenants, and also increase visibility of your property.

Please, if you have more ideas or thoughts to share, please comment below. We’d love to hear from you.