managing tenant relationship
TRANSCRIPT
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Siti Hasniza Binti Rosman
Universiti Teknologi MARA (UiTM)
MANAGING TENANT RELATIONSHIP
Managing tenant relations
• The success of PMs greatly depends on their ability to maintain good relations with tenants.
• Dissatisfied tenants will lead to:
• High tenant turnover
• Space vacancy
• Increase cost of promotion and marketing
• Good communication system is vital for the effective PM.
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Managing tenant relations
• Establishing landlord-tenant relationship • Move-in inspections • Servicing the lease • Clear understanding of lease terms • Manager’s personal efforts • Meeting with tenant • Newsletters
Managing tenant relations
Handling maintenance requests Requests in writing Speedy response Excessive demands Role of maintenance personnel
Commercial and industrial variations
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Managing tenant relations
Rent collection When to pay Encourage prompts payments Late fees Billing notices
Managing tenant relations
Lease renewals The value of stable tenants Bargaining factors The length of the new lease term The extent of repairs, alterations or
redecorating to be done The amount of rent to be paid
Concessions Rental rate Proper notice Competition
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Managing tenant relations
Rental increase
Fact of life
Avoid tenant protest
Increase services
Terminating the tenancy
Required notice
Exit interview (feedback form before moving out)
Managing tenant relations
Rental increase
Fact of life
Avoid tenant protest
Increase services
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Managing tenant relations
Terminating the tenancy
Required notice
Exit interview (feedback form before moving out)
Fair housing compliance (giving notice termination upon expiring lease term)
Inspection of the premises
Return of the security deposit
Retention for damages
Last month’s rent
Managing tenant relations
Terminating the tenancy in court
Reasons for eviction (breach of contract)
Notice before eviction suit
Eviction suit (process of eviction and repossession of property)
Process of eviction suit must be served on the tenants
Actual removal (e.g. secure court order until the tenant physically remove from the property)
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THE END
“Enjoy the little things, for one day you may look
back and realize they were the big things.” —
Robert Brault