Landlords’ and Tenants’ interests are not mutually exclusive and the two do not need to be in constant conflict. The foundation for good Landlord-Tenant relations begins with a clear understanding of the rules and regulations and the move-in inspection. Effective servicing of the lease throughout the term of the lease further contributes to sound Landlord-Tenant relationships.
Renewals are an important goal because the save the Owner refurbishing costs, vacancy losses, leasing commissions, and renewed concessions. Tenants who are given diligent, fair, and equitable service will renew their leases for an additional term. These economic facts can be used to convince the Owner that it is economically more advantageous to provide good service to Tenants than to concentrate on short-term financial rewards.
The Owners want a fair return on their investment in the property, based on current market conditions. Tenants, on the other hand, want the best value for their rental dollar and all the services promised during lease negotiations. Though the Manager’s first responsibility is to the Owner, the successful Property Manager will encourage both parties to work together, because good Tenant are an asset.
Move-in Inspections
At the beginning of the tenancy, the Manager should inspect the premises with the Tenant to determine if promised repairs or alterations have been made or are in progress. Inspecting with the Tenant is a must, especially in a residential tenancy. At that time, the Manger and Tenant mutually agree to the condition of the premises and note any exceptions on a “move in/move out” checklist. Both the Manager and Tenant should sign this form, and both should have copies. The same form is then used at the time the Tenant leaves. Putting it in writing helps avoid potential disagreements at the end of the lease.
Clear Understanding of Lease Terms
At the outset of each tenancy, the Manager should establish a basic understanding with the Tenant on all matters relating to the lease terms. A Tenant brochure that outlines all policies and procedures should be given to and review with each new Tenant. The Tenant should also be told of the penalties for failure to comply with building regulations.
The following topics should be addressed:
Manager’s Personal Efforts
The prerequisite for a sound Manager-Tenant relationship is reciprocal communication. No matter the management specialty, the Manger demonstrates goodwill and availability by communicating regularly with Tenants by telephone, e-mail, or in person. A newly appointed Manager must make a special effort to meet each Tenant personally as soon as possible.
Newsletters
Monthly newsletters or notices are an excellent way of educating occupants about current market conditions, improvements being made to the property, building activities, and other events, such as the appointment or promotion of management personnel. Newsletters can be printed or distributed via e-mail. They can be simple or elaborate, but they should always be timely, accurate, and professional.
Cultivating a Sense of Pride
The astute Property Manager – whether residential, industrial, or commercial – cultivates pride and a sense of community among the Tenants. Living and conducting business in the building can be made as pleasant as possible by offering both tangible and intangible benefits. Amenities such as conference rooms, employee lunchrooms, child-care facilities, game rooms, swimming pools, and tennis courts are useful in marketing the space and in cultivating a stable tenancy.
However, the Manager’s personal efforts can generate friendliness and loyalty among the Tenant population, even more than the amenities themselves. A little extra effort and creativity on the part of the Manager can go a long way toward developing Tenant pride and interest in the building.
