Too friendly with tenants?

You know what they say: never mix business with pleasure. What’s the right balance for landlords and how friendly should you become with your tenants? When you’re a landlord, perhaps with tenants who live nearby, or who have been living in your property for some time, you’ll naturally start to get to know them.

Upad CEO James Davis thinks keeping a positive relationship going with tenants has real benefits. “It’s primarily a business decision. But I think having a good relationship with tenants makes business sense,” he says. “But it is more than that. With the properties I own and let I do take pride in being a decent and honest landlord.”

But there’s a real difference between having a good relationship with your tenant and being too matey. “I’m not talking about popping round on a Saturday evening and asking them out for a pint. But keeping communication open and being seen as someone approachable and trustworthy can bring real benefits. For instance, if they know me personally and not just as a bank account number and a sort code, then I’m a human being too. They’re less likely to do a runner or smash the place up. I want them to feel they can come to me if there’s a problem. It’s a useful early warning system because they can alert me to any problems at the property before they become a real problem.”

It’s also useful for managing arrears and other tenant problems, according to James. “If I know that there might be a risk of one of my tenants losing their job or experiencing other personal problems,” he adds, “I want to know about that as early as possible because it helps me plan.”
But how far does it go? “I have bought easter eggs for tenants with children and that goes down well. It’s also a pretty small price to pay for keeping the lines of communication open.”

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