Keeping your tenants happy will result in on-time rental payments and proper care and maintenance of your rental property. Turnover is expensive and so are repairs. Getting your property ready to rent, advertising the vacancy, showing the property, and screening tenants are some of the most costly and labor-intensive tasks involved in owning and profiting from a rental property. Once you have found an ideal tenant, retention of that renter will become an important aspect of your business. Below are some tips on how you can accomplish this.
Prompt Attention To Inquiries, Repairs, and Complaints
Maintenance requests are particularly important. No matter how great your tenants are, appliances break, faucets leak, and general wear and tear happens. Your tenants will feel valued when you promptly respond to their needs, and they are more likely to care for the property when they see that you do. Landlords who are slow or non-responsive to maintenance requests are a major cause of tenant turnover. While some investors choose to self-manage, hiring a property manager can save you a lot of time and also keep your tenants happy. With years of experience behind us, property managers know how to handle a wide range of urgent calls and routine maintenance requests with ease.
Great Landlord-Tenant Relationship
A good landlord-tenant relationship is key to building a profitable rental business with long-term tenants. Upon move-in, be upfront with your tenants about what your expectations are from them. Let them know that you want them to be happy and appreciate being notified promptly when any issues arise. Offer An Online Tenant Portal Offering the convenience of an online tenant portal where renters can make online payments and request maintenance support is huge and most Millennials and other renters expect it now.
Be Fair
When it comes to rent increases, keeping rent within the local market rate and giving prior notice to tenants is important when trying to keep your tenants happy. Good quality tenants are hard to come by, be fair and it will be appreciated and valued by your tenants.
Look After The Property And Your Tenants
Your job does not end with handing over the keys to the rental property. In order to attract and retain good tenants, you have to maintain a clean, well looked after property that demonstrates your intentions as a landlord. You have to make your tenants feel happy and proud that they are living there. An overgrown landscape or malfunctioning appliances are factors that will count against you in terms of tenant happiness. A landlord that maintains a clean and well-kept property and shows concern for the comfort and well-being of their tenants wins their support and loyalty which results in a win-win situation for all.
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