How is your rental business perceived?
Being a DIY Landlord is empowering. From owning and operating a cash flowing business to getting to call the shots and be your own boss, the benefits are incredible.
Let’s face it – that stack of cash and checks at the end of the month is a thrill too. Have you ever thought about how your business presents to your tenants? Do you come across as a nice guy/girl who can be easily manipulated with a tug on the heart strings or are you a no-nonsense enforcer that makes them uncomfortable or perhaps somewhere in between?
Are you too kind or too rigid?
In any relationship its best to be yourself – people respect that! We know it can be a challenge when you are self-employed, and you have to wear all the hats. You might be uncomfortable letting Joe Tenant know that he’s paying rent late for the second month in a row. It’s hard to draw a line between being too personable or too rigid.
Regardless of the persona you take on with your tenants, RentMindMe can help you establish repeatable processes, so you are free to be yourself and your tenants get a feel for what to expect.
Establish Business Systems
Establishing a business system like RentMindMe benefits your tenant relationships in the following ways:
- Collecting rent on line ensures tenants don’t feel like you are invading their space by stopping by to get rent. If your house was in need of straightening would you want the electric company stopping over to pick up your payment? Paying rent online facilitates a method for payment without intrusion.
- Some tenants may need a little prodding to pay rent on time – that’s fine! Instead of you having to put on your bad guy hat, let RentMindMe handle those reminder needs. You save face by letting this online rent collection tool do the following up for you.
- Using RentMindMe for reporting maintenance needs conveys that you are willing to hear about them and that you are organized in your approach to dealing with problems. Tenants immediately sense that you are open to hearing about their concerns and that they don’t have to “just deal” with them.
- Having an organized and on demand record of the tenant’s payment history lets them see the credit history they are building. In the event of a credit reference, they have what they need to demonstrate good credit.
- Tenants have easy to understand, easily accessible lease details including a summary of their deposits and conversion details.