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November 9, 2017

How to Be a Great Landlord

Be a great landlord

Landlord Shaking Hands with TenantsAs a landlord, you seek successful tenants who readily agree to extend their leases. We will outline simple ways to ensure your tenants remain satisfied with their space.

Provide a welcome package

You should consider offering a welcome package to tenants when they move in. This simple action will help you stand out as a landlord and sets the tone for your new business relationship. A welcome package enables you to provide details about payment information and building rules in a friendly manner. You may also want to include treats and information about local amenities as an added bonus.

Check in with tenants

Shortly after your tenants move in to your commercial space, check in to ensure that everything is going smoothly. At this first visit, you can also establish a schedule for future visits. These interactions help build the landlord/tenant relationship and enable you to see how they are maintaining the space.

Establish clear communication channels

As a landlord, you are legally obligated to provide certain notices in writing, but as a courtesy, you may want to call tenants to discuss extensions, evictions, etc. Ask your tenants how they prefer to communicate, whether by phone, text or email. If you go on vacation or are otherwise unavailable, ensure that your assistant is accessible for your tenants.

Handle repairs promptly

Failing to make repairs in a timely manner is a surefire way to upset your tenants. Plus, you run the risk of a small issue becoming a major problem that causes building damage. Try to address repairs within 24 hours. If that isn’t possible, provide updates in a timely manner.

Prioritize safety

Safety should be your main priority as a landlord. Not only will you avoid liability issues, but tenants will also appreciate your efforts to address repairs and make improvements to ensure the property is comfortable and safe. Keep detailed records of the repairs and improvements should an issue arise that involves your insurance.

Be a professional landlord

Strive to maintain a friendly yet professional relationship with your tenants. Be courteous and polite in all your interactions. Positive interactions with you may encourage tenants to pay rent on time, maintain the offices and refer other tenants to your building.

Since 2008, Menlo Group advisors have assisted landlords with their commercial real estate needs. Contact our landlord representation or property management team for additional tips on building a good relationship with your tenants.

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