When you first took steps to fulfill your dream of being a landlord in Wisconsin, you likely understood there would be several types of challenges involved. From the actual logistics of finding and purchasing an apartment complex or other dwelling to developing a business plan, you probably knew that it wouldn't always be smooth sailing. In fact, many entrepreneurs like you enjoy the challenge of building new businesses the most.
Once you got all the paperwork and behind-the-scenes stuff out of the way, your focus may have shifted your focus to tenant/landlord relationships. No matter how much you enjoy a good business challenge, facing contentious situations that may lead to litigation with a tenant is probably not your idea of job satisfaction.
Keeping these ideas in mind may help you avoid problems
No two tenants are exactly the same; therefore, your relationship with each of your tenants will slightly vary. The following list includes helpful tips that may come in handy if you hope to secure good business relationships with those who rent your property regardless of individual personality differences in your tenants:
- First and foremost, you'll want to make sure you are up to date in your knowledge and understanding of Wisconsin laws regarding landlord/tenant relationships and real estate laws as well as contract issues that may be pertinent to apartment rental situations.
- There's not much you can do about a particular tenant's hot temper, but you can control your own emotions and reactions to potential problems that arise. By remaining calm, cool and collected at all times, you may be able to diffuse many problems.
- It's often best to discuss problematic issues in person rather than enter into an angry string of email exchanges or argue over the telephone with a tenant. Your willingness to meet face to face to work through problems lets your tenants know you take their concerns seriously.
- Keep thorough records of all your contracts and write down details from any problem situations that arise. If you have a solid paper trail, you increase your chances of obtaining a positive outcome if a particular issue winds up in litigation.
- If you believe a situation is reaching beyond your ability to resolve it peacefully, you may want to reach out for support from someone well versed in housing laws and landlord/tenant contracts.
Depending on how many dwellings you own and rent to others, you may face several problems each month relating to repair issues, payment of rent or other situations. Typically, the sooner you are able to resolve a particular matter, the better, especially if you're facing a problem regarding overdue rent.
Most commercial real estate attorneys are also skilled negotiators who can help you protect your interests and your rights as a landlord in the hope of securing fair and agreeable solutions to your landlord/tenant problems.