Handling People Problems as a Landlord
As a landlord, you will have to deal with all sorts of people problems, especially if you inherit tenants from the previous owners of your properties. These problems are usually caused by unclear communication, negative emotions, or different perspectives and viewpoints. Regardless of what causes these issues, your job as a landlord will be to handle these issues in the most reasonable way possible. With that said, here are five tips that will help you handle people problems a bit more easily. For more lessons and professional real estate investing insights, check out Your First Income Property Program.
#1 Screen Tenants Carefully
The best way to deal with people problems is to try to prevent them altogether. Although you cannot predict what’s going to happen, you should always be cautious of potential tenant issues. To prevent these as much as possible, make sure to screen potential tenants carefully, always do background checks and be careful when inheriting tenants from previous property owners. I’ve found myself handling people problems due to inherited tenancies as well and I can assure you that it’s not a great position to find yourself in.
#2 Engage in Open and Clear Communication
Lack of clear communication is often the major cause of issues between landlords and tenants. You could easily avoid any unwanted situations by providing clear instructions and being communicative from the start. However, there will always be tenants who cause issues either way so your open communication may not prevent you from evicting those who fail to respect you and the property you manage.
#3 Understand Differences in Perceptions
When dealing with people, whether in business or life in general, it’s important to keep in mind that the person on the other side probably has a completely different mindset and point of view. Once you become aware of your differences, it will be easier to find middle ground and come up with a solution without things getting out of hand. Look up different personality types and do some reading on how to communicate with each one for best results.
#4 Resolve Conflicts Reasonably
In case you already find yourself in the middle of a conflict with a tenant, it is important to remain respectful and continue treating that person as your client. Although it’s easy to get frustrated in situations like these, you need to remember that your professional reputation is on the line. After all, if you cannot come to an agreement with a troubling tenant, you can always seek professional assistance from lawyers or other experienced investors in your circle.
#5 Learn From Your Mistakes
Last but not least, make sure to learn from your mistakes so you don’t have to go through the same stressful circumstances over and over again. If you end up struggling with a bad tenant, identify the cause of the issue and make sure it doesn’t happen again. Whether the problem was in the lack of proper tenant screening procedures or the communication between you two, you should consider what could’ve been done differently to avoid it.
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Need help dealing with tenants and managing your income properties? You can still schedule a free call here to learn how to deal with challenging situations and manage your properties profitably and passively. Whether you’re purchasing your first income property or you’re looking to grow your portfolio or improve your existing properties, I’d love to hop on a quick call and see if I can help you reach your goals and go beyond your expectations in your real estate investing journey.