• Wednesday, April 24, 2024
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Beyond rent: 5 ways landlords, tenants can build enduring relationship

Beyond rent: 5 ways landlords, tenants can build enduring relationship

Essentially, the ability to pay rent is the strongest nexus connecting a tenant to his or her landlord. It fosters a relationship that could best be seen as the meeting of a willing buyer and a willing seller. Without rent, the relationship between these two entities is often strained.

However, experts say that beyond rent, landlords can build good and enduring relationships with their tenants. Among other things, they list five major ways by which relationships could be built and nurtured between landlords and tenants who, they say, should see one another as husbands and wives.

These five ways, according to Mojisola Ogunkoya of Ubosi Eleh + Co, are responsive communication, regular maintenance and upkeep of property, fair and transparent policies, amenities and enhancement of available facilities and respectful and professional interactions.

Because this is a human relationship in a very challenging society like Nigeria, especially in the cities, oftentimes, this relationship is strained for a number of reasons which get either the landlord or the tenant of both angry.

Therefore, despite the factors that build and nurture good relationship, there are still some challenges that can pitch landlords against their tenants.

These are poor communication or a lack of it altogether, different expectations and assumptions, leading to misunderstanding and conflicts, dispute over repairs, rent increases, or lease terms which create tension between them, lack of trust and mutual respect, and maintenance and upkeep of the rental property.

In some cases, mostly in serviced estates or apartments, where tenant’s relationship is not with the landlord directly but with the estate or property manager, Ogunkoya also pointed out some factors that can create healthy relationship with the tenants and the property manager.

“With the growing complexity of managing rental properties, modern property managers need to embrace tenant relationship management as a central strategy for their businesses. Strong property-tenant rapport is essential for maintaining low vacancy rates, establishing a positive reputation, and creating a stress-free rental experience,” she explained.

According to her, the landlord-tenant relationship is a complex and intricate one, where each party relies on the other for their mutual needs, adding that the property manager, through the landlord, provides a physical space for living, while tenants offer consistent rental income.

Ogunkoya mentioned six major ways to building good tenant-property manager relationship which include finding good tenants, setting clear expectations from the beginning, responding and addressing concerns immediately maintaining the property, respecting tenant’s privacy, and treating rent like business.

She added five other ways tenants could be kept happy while living in a property and these are achieved through responsive communication, regular maintenance and upkeep, fair and transparent policies, amenities and enhancements, and respectful and professional interactions.

She also pointed out what a property manager should tell a tenant who is angry either with him or the environment. According to her, the property manager should understand the situation before responding; listen to their complaints and empathize with their situation and feelings.

He should also ask clarifying questions to ensure understanding, de-escalate the situation with professionalism, avoid taking their anger personally, keep his tone calm and respectful, offer apologies and solutions, and also set realistic expectations and timelines.

To succeed in all these as a professional manager, she advised that the property manager should, among other things, understand the power of emotional intelligence in property management.

“In the dynamic world of property management and multi-family real estate, technical expertise is essential, but it is emotional intelligence (EI) that sets industry professionals apart.

Property management professionals who possess high emotional intelligence are better equipped to navigate the diverse challenges of the multi-family real estate industry. This enables individuals to effectively understand and manage their own emotions, empathize with tenants and colleagues, and build strong relationships,” she noted.