Relationships (Your House…Their Home)!
Good relationships in any business transaction are key to successful outcomes. Leasing an investment property similarly can but shouldn’t be viewed as an adversarial partnership.
Landlords who perceive their tenants as money churning machines and ignore reasonable maintenance requests, charge above market rent, become difficult to contact and implement hefty renewal rates are often setting themselves up for potential spiteful tenant responses, leases regularly not renewed and find themselves constantly back to the market to begin the same miserable experience all over again.
Similarly tenants who behave in an entitled manner, complain about requested unreasonable improvements (not maintenance that’s a different matter) being done, are blasé in rent payments and make inspections difficult and/ or unpleasant are usually not setting themselves up for a lease renewal being offered.
Both these scenarios lead essentially to a lose / lose situation for both parties.
Finding new tenants is a time consuming and costly exercise for landlords and the constant changeover costs of cleaning and removalists for tenants is an equal financial burden…never mind the stress in finding and applying for other properties.
Communication and compromise is the solution for both parties and outlining standards and expectations at the commencement of the lease will assist in achieving good long term relationships and successful long term leases.
