Finding high-quality renters requires time and effort but once you find the perfect fit, you will want to keep them. These types of tenants pay their rent on time, communicate issues immediately, and take care of your rental property as if it’s their own.
If you lease your property to someone like this, make sure that they renew it and entice them to stay with you long-term. Here at Nelson Property Management, we have put together these tips to help you keep high-quality tenants.
6 Tips on How to Keep Quality Tenants Happy
It’s always a good idea to invest in things that your tenants need. Doing this to keep great tenants will prove to be more practical in the long run compared to just filling a vacant unit with anyone. So, follow these tips to help you keep your great tenants:
How you treat your tenants could determine how long they will want to stay on your property. So being professional and friendly is going to be worth it in the long run. If tenants feel that they are being treated right, they will happily pay on time.
Make sure to keep all lines of communication open so tenants can easily reach you when issues arise. Respond to them in a reasonable timeframe to keep a harmonious tenant-landlord relationship. Tenants appreciate it if you respect their time and address any issues promptly.
Being considerate and respecting their privacy can make them feel comfortable and safe. Ask for your tenant’s permission before sending contractors to work on needed repairs. Better yet, send them to your property when tenants are not home as a way of respecting their space.
More likely than not, tenants will also extend the same respect by reaching out during business hours only, except for emergencies.
Provide Prompt Maintenance
It is always a good idea to conduct regular property maintenance to make sure everything is working as expected in the property. This can give assurance to your tenant that you want them to feel secure and maximize their stay in the home.
Making sure that all systems and equipment are functioning will help keep them satisfied and more likely to agree to renew their lease. Additionally, being on top of the upkeep will help you save from spending on major repairs in the future.
Acting on repair requests quickly can also promote a good tenant-landlord relationship as most disputes come from a delay in addressing reported issues.
Invest in the Right Amenities
When looking for long-term tenants, make sure to prepare the home and make sure that all amenities, equipment, fixtures are functional.
You can also improve your property by adding an outdoor patio, fire pit, barbecue grill. For those working from home or tenants with children, a fast internet connection can be the deciding factor when considering on renewing the contract.
You also have to do market research as well as check your competitors so you can work on what renovation work needs to be completed or improved to your rental property. Know your target market and tailor the amenities you offer to what your tenants may need.
Set the Correct Expectations
Make it a habit to keep all agreements in writing. This can be a very good reminder for both you and your tenants to honor the contract. House rules should be itemized and presented clearly in the lease agreement.
Should the time come that the tenant breaks a rule, unintentionally or otherwise, it will make your life easier by just referring to the agreement. Depending on how grave the damage or the mistake is, the contract should be able to highlight a corresponding consequence.
A compelling rental agreement also includes your responsibilities as a landlord. This can make your tenants feel protected and let them know that you are bound to the agreement to make their stay as comfortable as possible. Being protected and secure can motivate your tenants to stay longer or even renew the lease.
Comply With the Fair Housing Rules
Understand the local, state, and federal laws regarding property management so your tenants are treated equally. From creating your marketing materials to addressing tenant concerns, it is best that you are well-versed with the law.
Deciding on how to fix issues that tenants report must be fair and should be addressed objectively and logically. As a landlord, you must be fair, whether answering inquiry questions from potential tenants or resolving existing tenant’s issues.
Be transparent with the house rules, limitations, and exceptions and these should align with the fair housing laws. When your tenants know that you mean what you say, they will most likely renew their lease.
Keeping renters happy can be fulfilling but can also require much of your time and attention. That’s why it’s best to partner with property managers and let them find and keep the perfect fit for you.
Seasoned property management companies have worked with a lot of contractors that can help with your house upgrades and fulfill tenant incentives. This takes a lot off your plate and can let you focus on the other aspects of your investments. Contact us at Nelson Property Management today and let us take care of your rental property investment and tenant communication needs.