In my extremely short time working within the property industry, I have both witnessed and heard of many horror stories in how some choose to manage properties. Ultimately, the effect of poor management falls upon tenants residing within the building. Tenants who seem to be regarded as an irrelevance to the industry, when in actual fact they are probably the most vital part.

I say this, and to some it may be obvious, but clearly to others it isn’t. However without tenants, a building simply cannot function. The rent, service charge or general input tenants provide is in essence what allows financially for a building to survive. Without tenants, a landlord is left to pay out for everything themselves, which over time will generate sufficient losses.

So what is my point? My point is that I think tenants require attention. Not to an extent where we have to hold their hands, but a strong relationship must be formed with the necessary people. I personally come from a customer service background, so utilise my interpersonal skills to build and maintain a relationship where I have a mutual trust and respect with my tenants. They trust that I will solve their individual problems promptly and if they cannot be done so, I will keep them updated as to why and what the next steps are.

But what exactly does having a relationship achieve? The very simple answer to that is that a tenant wants to remain in the building. They therefore will pay rent on time and be willing to extend their leases should that of course continue to be a feasible option. A tenant maintains their position within the building, rent and service charge is paid, the building continues to run smoothly and this leaves the landlord, as our client, happy.

Now, don’t get me wrong, there is a lot more to managing a building than maintaining the happiness of tenants. I would say however, this is a vital step that needs to be taken as unhappy tenants will vacate their lease when given the opportunity. Unhappy tenants are also likely to not follow procedures. Not necessarily because they’re bad tenants, but more likely that they don’t respect the management enough to put in any extra effort than needed. In turn, management would dub them as bad tenants without the realisation that there is a high likability with more communication or respect, there may never have been the issue to begin with.

My common theme throughout this post is that tenants need to be valued. I often liken them to customers in a retail sales environment. Customers require exceptional customer service for them to continue repeat business. The building is a product, and by selling tenants the best conditioned product available, whilst offering the exceptional customer service, they are likely to continue their leases. To repeat the metaphor, tenants are value customers. Key to the business. Key to the building.

I’m not by any means saying I am right, and there is no possible way to manage a building without the respect of the tenants within. I am certainly saying that my job is made more enjoyable and very possibly easier by having them on my side.  I find I now have far more time to complete all relevant work for the building rather than dealing with tenant complaints about outstanding issues that were never discussed by any previous management team.
My advice isn’t to befriend anyone and everyone. My advice is to treat them how you wish to be treated. Give, and the world gives back.

From: https://www.linkedin.com