How A Healthy Tenant Relationship Can Impact Your Insurance

Do healthy relationships with tenants mean fewer claims? A poor relationship between Landlord or Property Manager  and tenant can create a very unpleasant and combative atmosphere that makes interaction difficult. A poor relationship can also impact your Landlord Insurance claims, such as malicious damage and unpaid rent. Take note of these tips for a pleasant and smooth Landlord/Property Manager-tenant relationship.

Maintain open lines of communication

Tenants are not ‘set and forget’, so you can’t get a tenant to sign the lease agreement and then forget they are in the rental. You don’t want tenants who are reluctant to let you know about issues before they become major problems and impact the tenancy. Maintaining open lines of communication with tenants increases the chances that they will work cooperatively with you for the duration of the lease.

Be proactive

There’s a condition in insurance policies about acting to prevent further loss. If tenants or a Property Manager can’t get in 6touch with the Landlord if something has happe6ned at the rental and don’t have authority to act, the Landlord may find they have breached the requirement in their policy.

This is all the more reason to stay on top of regular inspections, maintenance and repair requests. This also shows tenants that you are interested in the property’s upkeep and their living conditions.

Understand your rights

Be ever-mindful of your, and the tenants’, responsibilities as set out under the lease agreement and within tenancy law. Not understanding each other’s rights and obligations can result in unnecessary misunderstandings.

Respect their privacy

The property might be the Landlord’s investment and the agent’s business to manage, but it’s the tenant’s home. Be sure to respect the tenant’s right to peaceful enjoyment of their home, and follow best practice when submitting a notice of entry.

If something is happening that may affect their tenancy, have the courtesy to tell them. If the rental property is about to be sold, provide advance notice for tenants about situations such as these, so they have time to prepare and you can discuss the appropriate next steps.

Thinking of switching property managers? Here’s why you should make the smart move to LongView.