Health and well-being affect every part of our lives.
This includes property management. Health scares, disturbances, and pre-existing conditions can influence how well your tenants are able to function in daily life, including paying rent and maintaining a consistent income.
As a landlord, you should always be mindful of your residents’ health and well-being—especially in times of crisis. For example, the Covid-19 pandemic significantly altered housing and renting. It’s your job to stay aware of how global events impact your tenants and how you can mitigate excess stress.
When a mental health concern constitutes a disability, the Fair Housing Act (FHA) provides certain protections. You cannot discriminate against or inquire about tenants’ disabilities, but you can accommodate their needs alongside the general well-being of your resident community.
Here are five tips for supporting your residents’ well-being and mental health in your rental business.
1. Provide Reasonable Accommodations
Providing reasonable accommodations isn’t just a tip—it’s also your legal obligation. According to the FHA, you must provide reasonable accommodations to tenants with disabilities who request them.
A “reasonable” accommodation is one that does not place significant hardship or financial burden on you. If a tenant requests an accommodation, discuss together how it can be implemented.
You can also provide general accommodations to improve livability for your tenants. For example, you don’t have to break the bank to soundproof a tenant’s apartment, but you can ask your landscaping contractors to avoid using loud equipment during early morning hours.
2. Know Local Government Assistance Programs
During the Covid-19 pandemic, the government offered support to renters. Federal emergency programs expanded paid family and medical leave, provided small business relief via the CARES Act, and delivered resources to rural communities.
The government also provided relief to renters with the Emergency Rental Assistance program. State and local governments worked together with landlords to distribute funds to eligible households and prevent evictions.
As a landlord, you should be familiar with the federal and local government assistance programs available to your renters. For instance, if one of your tenants is still suffering from a job loss due to the pandemic, point them toward support before pursuing an eviction.
Being knowledgeable about resources for renters will help you feel less like the enemy to your tenants. This builds loyalty and increases your chances of renewals when tenants get back on their feet.
3. Host Resident Events
Resident events are another way to demonstrate that you’re on your tenants’ side. Even a drop-in event or occasional summer gathering encourages socialization, relationship building, and trust.
Resident events are a great opportunity to get to know your tenants more personally. While you should still maintain a professional relationship, you can learn much about your tenants by talking and asking them questions. You might find out why a tenant’s rent has been late the past few months or the reasons behind a troublesome argument between tenants.
Hosting informal community gatherings shows that you value your tenants beyond their rent check every month. Instead, you listen and respond to your residents’ concerns, especially in unpredictable circumstances.
4. Be Informed
A good landlord stays informed about current events in the community and the world.
There are several reasons why you should know what’s happening around you. First, this knowledge helps you be mindful of how current events may affect tenants’ well-being. You’ll also know what the government is doing in response to current events, including new rules that affect housing—student debt assistance, tax changes, stimulus checks, etc.
5. Be Forgiving When Appropriate
Finally, major health stressors may require you to be forgiving, when appropriate. You shouldn’t make drastic allowances or let renters get away with too much. However, you can accept late rent from a normally punctual tenant or drop other fees/penalties to help a tenant through a difficult month.
If you’re going to make allowances, remember to apply them equally across all your tenants. It’s a good idea to keep your forgiveness policy in writing.
For example, if you drop a late fee for a tenant actively seeking a new job, you shouldn’t also drop fees for all your other tenants. However, keep a written policy that you would do the same for any struggling tenant once every lease term.
If you decide to drop certain fees, you can do so on your online property management software. Indicate which tenants the forgiveness or grace period applies to, and your software will make sure the fee is not incurred.
Prioritizing Well-being in Your Rental Business
Whether it’s everyday stress or a national crisis, well-being should be a pillar of your rental business. Tenants who felt you enforced rules unreasonably in a difficult situation are unlikely to renew their leases, leaving you with vacancies. Prioritize well-being in your business by staying informed, accommodating, and considering situations in your tenants’ shoes.
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