In a country where more than 20 million people live in the capital alone, the city’s housing issue is a big problem that needs to be tackled on a daily basis. And since almost 80-85% of the people live in rented houses in the city, it is necessary for landlords and tenants to obey certain rules and regulations to maintain a healthy balance. The dispute between landlords and tenants is a widespread phenomenon that has consistently plagued landlords. Although there are certain dos and don’ts that a landlord can follow to avoid such issues, sometimes it just doesn’t work.
Whether you are new in the business and are preparing to rent your first property or you have been a landlord for much of your life, it is important to understand that you may have to face tenant problems at some point in time. In such cases, rather than issuing an eviction notice, you may want to know the common problems that landlords face and how to fix them first.
High tenant turnover rates
One of the most common problems landlords face is the high tenant turnover rates of their properties. There are a lot of reasons as to why tenants leave an apartment; the most common one is repair disputes. Therefore, ensuring that your response to maintenance requests are professional, high-quality, and timely is one of the most effective ways to maintain a positive relationship with your tenants. You can also take measures to make repair related requests easy – send out a monthly notice that tenants can check off and return if they need to report an issue with their units. Thus, you can not only maintain a healthy relationship with your tenants but also make your property more desirable.
Repair and Fix the Broken: Before you get any complaint from your tenant, perform fixes to all your damaged units. Behavior such as anticipating complaints and fixing the problem relays respect for your tenants, as well as your pride in the building. For example, fix plumbing issues such as gas, water, and other drainage systems. Many people are known to suffer these in our country.
Be On-Par with Competing Properties’ Amenities and Rents: Always keep an eye on competing properties’ rent and amenities. Because if you don’t and become adamant about changing or adding amenities to your current property, people will eventually leave and shift to one of your competing properties. If you see a decrease in rent in the market then lowering your rent might better promote your maximum occupancy.
Create a Strong Sense of Community: It’s very rare in our country but if done correctly, it can benefit you greatly in the future. Plan community get-togethers and make sure you invite all your tenants and have a real conversation with them, not just a “nice-to-meet-you”.
Late rent payments
Getting late payments is one of those problems that can make the relationship between landlords and tenants bitter. Besides, constantly dealing with tenants who don’t pay on time can be incredibly frustrating, especially if they’re repeat offenders.
This problem is one of the common problems that landlords face in our country, and if this situation sounds at all familiar to you, consider these to improve your chances of consistently collecting rent on time:
- Mention the due date on the contract
- If necessary, follow up with tenants frequently to collect rent
- Screen tenants thoroughly so you can choose the right candidate
Structure Payment Options: There could be a lot of reasons why a tenant may be late to pay rent. So if you experience such difficulties with your tenant, the most effective rent-collecting method is to structure payment options. As a landlord, you should recognize that people occasionally struggle with bills, so you can try implementing a policy of accepting a partial payment from a resident once per year.
Bad Reputation Issue
If not properly overseen by rules and regulations, your property can build a bad reputation very fast. From loud parties to unfavorable people trying to defame the reputation of your property, there are multiple reasons apartment buildings can routinely develop distasteful reputations that affect a landlord’s ability to attract well-qualified, respectable tenants. This is one of the common problems that landlords face. Concrete measures, such as enforcing new regulatory laws, fixing neglected landscaping, and repainting must be speedy so residents see immediate changes. That eventually creates a great impression overall.
Also, make sure to implement a thorough screening process. This way you can eliminate many problem-tenants. Otherwise, a bad tenant’s activities can routinely negatively and directly impact the reputation of the entire building.
Illegal Use of the Home
Another one of the common problems that landlords face is the illegal use of their homes. If you are informed of any changes to your unit, it is critical to take action to protect yourself by seeking legal counsel from an experienced attorney and by reporting the incident to the appropriate authorities. However, tread with caution to avoid any backlash from the tenant.
On the other hand, you might have a tenant who engages in offensive behaviors that negatively affect the residence of the building. Some of them, unfortunately, may be involved in illegal and punishable activities. In situations such as these, it’s best to inform law enforcement authorities about these activities.
For a landlord, frequent eviction is not good for business. It can kill your cash flow as well as build up a bad reputation for your property. Also, there are hassles such as advertising, viewing, running background checks on new tenants, and doing the necessary administrative work to get one tenant out and another one in. Why go through all these, when you can instead resolve the common problems that landlords face by taking proper measures?