Starting a property management business is difficult. Landlords always deal with tenants who do not pay their rent on time, expensive property repairs, and problems of tenants who always complain. The process comes many responsibilities as well as dilemmas that can make well-meaning landlord into a jaded owner.
More often, it is easy to consider tenants as a Ringgit sign, rather building a good landlord or tenant relationship. Nevertheless, a positive connection with all of your tenants as well as marketing your property management company has a variety of benefits. Promoting your services to new and potential clients, and acquiring a number of loyal clients will be a breeze.
Below are some of the effective and simple property tips you can take into account. Trust us, we’ve tried them all!
Customize the rental agreement
A standard rental agreement template is available online easily. This will cover many things such as rent, legal tenant rights, and security deposit costs. You can use them as the framework of your lease.
Adding other special rules could make the process of renting a property in Malaysia more convenient and comfortable. You can restrict bringing pets, set a fine for late payment fees, maintenance responsibility, etc. In this way, you will be able to eliminate potential issues in the near future.
If you need help with the rental agreement, talk to us – in HostelHunting.com we offer free rental agreement drafting services.
Inspect damage and schedule a repair
When your tenant gives you a call about repairs, make sure to set up a time and inspect the damage according to your schedule. If the issue is terrible, schedule a possible repair. Choose a well-trained service provider to avoid any discomfort.
Inspecting any room damage and making a repair schedule from a responsive company can help you earn their trust. If your tenant sees that you’re a kind of landlord who cares about the house, chances are they will happily refer you to their friends and family in the future! Hands-on attitude is always a plus.
Listen to all tenant’s concerns
When you receive a call from your tenants, listen to their concerns and take an action. If you have a goal to make the process of renting a property in Malaysia stress-free, you should be a good listener as well as a problem solver.
Never ignore your tenants when they are saying their complaints. Otherwise, you will lose qualified and prospective clients. Whether you are operating a rental property business or planning to provide similar service, learn to listen. It can help you thrive in your chosen industry.
Be a more compassionate landlord
Your tenants could potentially experience some problems along the way. Perhaps, they experience something personal or their rent payment will be later. Whatever the issue is, put yourself in their shoes. You have to understand them though it is hard on your part. Or you should be more compassionate. As a result, your tenants will renew their lease without any hesitation.
Indeed, handling a rental property business is complicated. Apart from having superior technical skills, you have to be good to them. Or simply, “human”. You should understand their situations most of the time, be more compassionate and responsible. By means of that, they will love you in return. They will do their obligation as tenants.