Landlord's Five Top Tips For Better Tenant Management

By Author: Property Portfolio Software
Total Articles: 89
Comment this article

An experienced landlord who specialises in helping landlords get the most from their investment has supplied a series of tips to help better manage tenants.

Amer Siddiq founded property management software firm Property Portfolio Software (PPS).

Its property management software and landlord software solutions are specifically designed to handle the major challenges faced by Landlords.

Amer said: People in the property business should realise that their tenants are the most important people they deal with, as they are their customers. Looking after tenants correctly determines the cash flow landlords generate from their properties.

He added: Failure to manage tenants correctly will most likely result in the landlord losing money, so it's vital to remember some essential rules to ensure tenants are paying full market rent every time.

Amer's top five tips for landlords are:

1 Show them you are a professional landlord: ...
... This seems obvious but tenants do fear the ‘landlord from hell'. Don't fall into this category by not addressing property problems immediately, or raising rents without adequate notice.

There is nothing better to demonstrate that you are a serious and well organised landlord than providing new tenants with a welcome pack. This will show you have nothing to hide and will contain essential information about the property, utilities suppliers and any insurance policies the tenant needs to be aware of.

Every good property management software solution will have a tenant welcome pack report built in as one of the standard reports.

2 Have the right policies in place: Make sure you have maintenance contracts for anything which can go wrong in your properties, and tenants have the details in the welcome pack. Covering every property for boiler breakdown, central heating failure, electrical problems and even appliance problems gives them peace of mind and you less hassle. Good property management software will allow you to track and manage any contracts or policies that you have on your properties.

3 Be easy to contact: Always make a point of saying I can be contacted 24 hours a day, again to give your tenants peace of mind. By including all essential information in the welcome pack, contact from tenants should be minimal as they will have all the information they need.

4 Get the rent paid by standing order: Make sure your rent is paid by standing order around the time the tenant gets paid by their employer.

5 Be flexible and understanding: Everyone has problems in their life and somewhere down the line, your tenants may have financial difficulties or personal problems. If and when they do, it is important to listen to them, and try to help as best possible. Your understanding could be the difference between you continuing to receive rent or getting no rent at all.

About Property Portfolio Software:
Property Portfolio Software's flagship landlord software product Landlord's Property Manager tracks all property-related income and expenditure and helps landlords to get better organised. If you want easy to use landlord software that will help you to get better organised and slash your accountancy and legal fees then try our landlord solutions today.