It’s no secret that bad tenants can be a nightmare for any landlord. From those who damage property to tenants who try to mislead or provide false information, bad tenants are a hassle and can be costly. Performing a thorough tenant background check is the best way to avoid signing on unruly tenants. Failing to do this can be dangerous for both the landlord and other tenants.
While any landlord will naturally be concerned about bad tenants, it’s just as important to look out for good tenants. Your best tenants make your job easier and always pay on time – it’s only natural to want to keep them. Here are a few ways to retain tenants.
Maintenance problems are among the most common reasons tenants choose to leave a property. In fact, it’s the most common reason that can be easily avoided. While tenants who need to relocate or are unable to pay rent are issues out of your control, your efforts for prompt and proper maintenance can make a huge difference for all tenants’ satisfaction.
A timely response to calls is generally the most important factor, as tenants will become increasingly frustrated the longer they have to deal with an issue after calling maintenance. Routine inspections and repairs can help minimize issues with the property itself, but you’ll also need to quickly address any pest concerns. It’s likely a good idea to already be familiar with a residential pest control service you can call at a moment’s notice.
Quick response times
Speaking of things to do at a moment’s notice, your general communications with tenants need to be timely. While a tenant won’t move out just because of an unresponsive landlord, it can be the deciding factor if they are having any other problems. If tenants feel you either won’t respond to them or that your response will come too late, they’ll often give up on trying to communicate altogether.
Quick responses to all tenant questions and concerns will show them that you care about them and their experience on your property, and that can be all it takes to convince a good tenant to stay with you instead of taking a risk on another landlord. If you haven’t already, it’s recommendable to look into some property management software to help organize your business and communicate with tenants and applicants.
Keeping your units up to date is important for tenant satisfaction, and it can also let you increase the rent. Keeping your appliances and furniture modern will be appreciated for both function and style. While tenants will generally be free to do some of their own decorating, doing your part for them is a great way to establish goodwill.
Offering tenants options to regularly upgrade small items like light fixtures or to repaint the walls can also help retain tenants and gradually raise your property value. Routine inspections as well as offering voluntary inspection forms will give you a chance to regularly talk with tenants and check any issues they may have simply not complained about. Again, showing tenants that you care about their experience will make them want to stick around.
Giving your tenants plenty of notice about their lease renewals will give you the best opportunity to lock your good ones in early and ensure they aren’t surprised when the time comes. It’s also important to give plenty of notice for any upcoming inspections, maintenance work, or any potential problems in the area.
Each of these suggestions has a common theme. You want to make life as easy as possible for your tenants since your good ones will make yours easier in turn. Just be sure to make all offers and enforce all policies evenly to avoid building any resentment.