Great tenants can be hard to come by. Which is why landlords aim to keep them around for the long term. If you land these types of tenants, you’ll want to create an environment that encourages them to stay.
So, what are the hallmarks of a great tenant?
- They report property issues right away.
- They can be relied upon to pay their rent.
- They easily get along with neighbors and other tenants.
We at Pro X Property Management have written this article to help you understand both how to keep your renters happy and why it is in your best interest as a landlord to keep all your renters happy and taken care of.
Why Keep Good Tenants?
Setting the goal of retaining good tenants can lead to a very successful rental business. Your rent income will be steady. You don’t need to advertise or schedule property showings.
Furthermore, you’ll have cultivated a great landlord-tenant relationship and adhered to Landlord-Tenant law, which is much easier to maintain in the long term.
How to Keep Tenants Happier for Longer
Keeping tenants happy is an important part of running a successful rental business, here are some tips on building and maintaining a positive landlord-tenant relationship.
Never Delay Maintenance
Tenants appreciate a highly responsive and attentive landlord. By making your rental home comfortable by addressing property issues quickly, tenants are less likely to move anywhere else.
Another way to keep tenants happy is by being proactive and performing preventive maintenance. As you have already spotted or resolved any potential damages, your property is always in excellent condition.
This proactive and preventative attitude also equates to lower repair costs for you in the long run.
Become a Great Landlord
As a landlord, developing your people skills should be part of getting your property rent ready. You’ll want your renters to feel at ease with you. So, strive to develop a friendly relationship with your tenants. If they like you and your property, they are much less likely to move.
Here are a few things you can do to cultivate a respectful landlord-tenant relationship:
- Improve your communication skills.
- Be available and remain open to your tenants’ feedback.
- Be courteous and honor your renters’ privacy knowing that an implied covenant of quiet enjoyment is the law.
- Prioritize the comfort level of your tenants.
When conducting rental property repairs, be considerate and schedule it during business hours. This minimizes the noise level and tenants are bound to appreciate this consideration.
When you treat your tenants well, they’ll also show the same level of respect for you and your rental property.
Add Modern Amenities
Different tenants look for different amenities. For example, professionals who commute to work in their private vehicles will want to have a covered parking space. Whereas students will need bookshelves and study tables.
But some amenities are commonly desirable. For example, everyone loves strong Wi-Fi or a patio, and garden area. So, it’s a good idea to get to know the specific needs of your tenant and provide them.
Adding amenities can help you determine the initial rental price of your property. You can also perform annual property upgrades to raise the value of your rental space year after year. So, your current tenants will look forward to signing a new lease with you. This is also a great way to attract long term tennants.
Craft a Solid Leasing Agreement
Leasing agreements are very helpful in ensuring you run a smooth rental operation. The agreement contains your policy on pets, rental payment, and property maintenance among others.
So, making the contract clear and outlining the consequences of any breaches provides the tenants with an understanding of what happens if they don’t comply with the rules. Giving you security and ensuring you are correctly setting your tenants expectations.
Be a Fair Landlord
You may have a better relationship with some renters more than others, but it’s still very important to treat everyone equally. Be aware that, legally, all tenants enjoy the same rights and privileges.
Review the Fair Housing Act to ensure you respect all your renters regardless of their race, religion, color, national origin, sex, familial status, and disability.
Charging higher rent for certain classes of people will backfire as you are likely to end up with a lawsuit since the Fair Housing Act protects various groups of people against discriminatory actions. So, it’s always best to show the same courtesy and regard to each renter in your property.
Keeping your tenants happy revolves around being ready to serve your tenants’ needs. One can easily achieve this goal by addressing maintenance requests immediately and among other things, designing a home that contains the amenities that tenants desire.
If need any assistance managing your rental unit, you always have the option of hiring a reputable property management company like ourselves Pro X Property Management LLC. Contact us today and see how we can help you manage your relationships with your tenants.