What makes a good landlord?
Working in property management, we have met a tenant (or two) in our time that complained about their landlord. But what is it that actually makes a great landlord?
It is a known fact, better landlords get better tenants (and that means better paying too…). Considering there is always such a large discussion around what makes a good tenant, we wanted to take a look at what makes a good landlord, according to the feedback we get daily. At RE/MAX Profile, we work with landlords and tenants to create mutually beneficial relationships.
Here is our ‘good landlord checklist’:
Our tenants tell us that a great landlord is an excellent communicator and responds quickly to their requests. The best landlords are easy to reach and fast to return questions regarding the investment property. If you’re a landlord and you aren’t currently happy with your property management team that acts as the middle-man, consider switching teams as the property management team have to hold up their end of the deal. If there is a communication breakdown due to them, the tenants will likely think it is the landlord’s fault.
Our tenants tell us that a good landlord will keep all sufficient documents in good care and ensure that the tenants have signed the appropriate lease documents. It is important to remember that if an agreement is not made in writing, it cannot be enforced. But realistically, it isn’t the landlord that looks after this, it is the property manager.
This is why we emphasise the importance of finding a great property manager and not going down the self-managing route. There is so much legislation and paperwork that goes into managing a property and it is continuously changing. Unless you know the legalities and legislation surrounding renting a property inside out and back to front, you are best to leave it to the professionals.
Tenants feel as though they often face the annoying issue of trying to get a hold of landlords when things need to be repaired or installed. This should not occur and it is the landlord’s responsibility to ensure that the property is clean, tidy and well presented.
To be a great landlord your timely response to repair requests is key. Consider giving your property manager a spending limit so they can act quickly on your behalf. Tenants don’t want to have to wait long periods of time for a simple repair request to be actioned. Instead, they want to live in a well-maintained and functional home.
Another thing tenants don’t like doing? Getting multiple quotes. Tenants tell us they don’t like being bothered all the time so when their landlord is requesting three quotes every single time work needs to be done, it becomes tiresome. Which makes sense. Imagine having to arrange three different attendances every time you wanted a job done. For many, it means having to take time off work (multiplied by three) or having to organise their schedule around tradie-visits and this is all just to get a quote approved… the real work hasn’t even started.
Yes, you read that right. Customer service. Renting your house out is a business arrangement and a good landlord keeps their tenants happy. According to our tenant feedback, a good landlord is someone who views leasing their property as a business transaction and as such, they are not driven by emotion when making decisions.
Peace & Privacy
Tenants have told us that they really value a landlord who respects their peace and their privacy. Tenants generally don’t want the property owner popping in all the time or doing their own repairs as they feel they are always being watched. And that is a fair call, imagine the shoe being on the other foot.
Having said that we do encourage our owners to attend the property once a year to ensure they are happy with the standard the property is being maintained.
Any good landlord or tenant is aware of the differences between general wear and tear and genuine damage to the rental property. Tenants value and appreciate landlords that act fair and reasonable when it comes to bond disputes.
Landlords that overstep their boundaries and arrive unannounced or insist on seeing the property far more than is required do not fall into the good landlord category when it comes to the tenants’ perspective.
These are tenants we have spoken to consider to be the traits and non-negotiables of a ‘good landlord’. If you have a property that you’re thinking about renting out but aren’t sure of the process or would like to talk directly with us about our property management services, you can phone RE/MAX Profile on (07) 3510 5222 or use our online contact form located here.