Although the association between landlord and tenant is established in both contract and property law, there is a personal element to the nature of the relationship. From the landlord’s point of view, they are putting themselves at financial risk by allowing a stranger to live in what is probably their largest asset, for what may be a lengthy period of time. From the tenant’s point of view, certain aspects in the way they live in the privacy of their own home is dictated by a stranger.
Ideally, open and transparent communication by both parties will help to consolidate the relationship and dramatically reduce any problems from occurring during the tenancy.
However if both parties neglect their duties and obligations with regards to the tenancy, then the relationship will decline. The ability to resolve an issue amicably goes a long way in stopping a dispute from getting out of hand and having to be dealt with by an external party such as a judiciary. This process can prove to be time-consuming and costly.
A good property manager is an excellent go-between for the parties involved and can add a strong support structure to cultivate a positive relationship and ensuring both parties meet their obligations:
- Open, honest and transparent communication – a combination of phone, email and text communication methods ensure everyone is on the same page;
- Mutual respect – the tenant should pay their rent on time, keep the property tidy and in good condition, and let the property manager know when something needs to be fixed. The landlord should respect the tenant’s privacy and also maintain the upkeep of the property;
- Negotiation skills including the terms of the tenancy agreement, financial considerations or property improvements;
- Mediation skills to prevent small issues spiralling out of control and getting things back on track calmly but firmly;
- Accountability – managing all facets of the investment property responsibly and ethically.
The core philosophy of the Sunshine Coast Rental Managers is to deliver fast, effective and high-quality property management services to ensure you investment is profitable and stress-free.