Landlords are seldom on the receiving end of great press. While the actions of the occasional “rogue” member of the profession merit media criticism, the vast majority of landlords want to provide safe and secure housing to their tenants. In this short piece, we set out some tips from veteran landlords to help novices to build a superb relationship with their residents.
1. Regulatory compliance
There is a new set of housing standards applicable to private rentals in Ireland and you should ensure that you are fully aware of and compliant with their requirements. The text of the relevant law can be found here: http://www.irishstatutebook.ie/eli/2017/si/17/made/en/print.
2. Be professional
Having a convivial relationship with your tenants is an appealing prospect but it’s crucial that you retain the distinction between your role and theirs. In other words, you need to remember that you are running a business and that you are the landlord. This is partly to make certain that your decisions are made for commercial rather than more sentimental reasons, and partly so that both parties remain aware of and duly execute their separate responsibilities.
3. Be responsive
Tenants will appreciate your responding to their queries and concerns in a timely fashion. Dealing with problems before they escalate also helps to protect your investment in the longer term. By way of example, if you repair damaged plumbing quickly, it can prevent later, more expensive problems with damp.
4. Use technology
By providing a facility for online rent payments, you are making life easier for your tenants and maximising your chances of receiving payment by the due date. Equally, maintaining an online service whereby tenants can contact you at the click of a button can save you both time, stress and expense.
5. Keep in contact
Without being intrusive or compromising their privacy, you should keep in regular contact with your tenants so they know you are concerned about their welfare and can be approached with any concerns.
6. Employ a management company
A company like http://clients1st.ie/, providers of property management in Dublin, can help you to run your rental properties smoothly and efficiently so that your tenants have the best experience when living in your house or flat.
7. Monitor the internet
There are numerous websites which allow tenants to evaluate their landlords. Monitor these frequently and respond to feedback.