What Are The Most Important Relationships When Managing Property?
When it comes to great property management, the team at Laing+Simmons believe that relationships are crucial.
Not just forming them, but ensuring that all connections are maintained to a high standard. Without this, otherwise simple tasks such as organising an inspection can become incredibly difficult, while more challenging situations like negotiating a rent increase may become stressful and combative.
Avoiding these sorts of issues is key to maximising the return on your rental property. In this article, we’ll discuss two of the most important relationships to focus on when managing a property.
Having a great relationship with your tenant is perhaps the most important factor of all when it comes to a smooth running rental.
1. Relationship with the tenant
From the initial screening process through to negotiations when extending a rental agreement, having a great relationship with your tenant is perhaps the most important factor of all when it comes to a smooth running rental. Of course, most of the benefits are practical – for example, an uninterrupted flow of rental payments from a happy tenant and the peace of mind that you’ll get from having somebody trustworthy occupying your property.
Both you and your tenant will benefit hugely from having a good relationship with one another, and that’s exactly what good property management facilitates. Even if you never meet them face to face, the property is important to both of you, so it makes sense to work together and keep everyone involved feeling content.
2. Relationships with maintenance services and tradespeople
As much as we might wish otherwise, general wear and tear does happen to every property over time. The two major issues presented by this are the happiness of your tenant and the long-term prevention of more serious damage to your property. The cost of repairing a leak might seem excessive, but leaving it can result in lost rent if your tenant decides to leave, as well as higher costs if the water causes other problems throughout the home.
One of the marks of a well-managed property is getting these sorts of issues repaired quickly and to a high standard. That’s where relationships with maintenance services come in handy. An established property manager will have formed close working relationships with all sorts of tradespeople and will be able to quickly refer somebody to take care of any problem at a good price.
For more information on how the right property manager can make sure your rental is running smoothly, contact Laing+Simmons today.