Identifying the best renters is easy. They reduce your stress by meeting rent payment deadlines, taking care of your rental, and getting along well with other tenants and neighbors. It’s a challenge to find great tenants so it’s important to keep them happy once they occupy your rental.
This article offers tips on how to inspire good renters to stay for the long term. It’s much easier to make compromises and ensure your tenants are happy rather than looking for new ones.
Vacant rental homes require you to spend on maintenance and marketing which can get costly over time. You can channel your funds to maintaining the upkeep of your property to delight your existing renters.
Benefits that long-term tenants bring:
- Steady monthly income – You can plan property renovations and pay off your loans with regular earnings
- No need to market a vacancy – Marketing and tenant screenings can take a lot of effort, time, and money, but with a consistent tenant you can avoid this process
- Good relations with a renter – You can expect must more seamless tenancy
If you want to learn how to keep your tenant happy, keep on reading!
Be Prompt when Addressing Maintenance Requests
Practice being proactive when managing a rental. You can do preventive maintenance and regularly inspect your property to catch damages early. Schedule deep cleanings, make the curb appeal attractive, repair malfunctioning items and home systems, and address tenant concerns quickly.
No one wants to live on a property that’s in disrepair. Under state laws, landlords are obliged to present a rental fit to be lived in. Incentivize renters to sign a lease renewal by remaining on top of things in your property.
Strive to be a Good Landlord
Property management doesn’t mean exclusively dealing with the rental unit, you also need to interact with your renters. Being a friendly owner means a great deal to tenants. Be considerate, respectful, and communicative with them. When they call or send a message, be sure to provide a timely response.
Honor your tenants’ privacy and plan repairs when they’re off to work, so the noise won’t disturb them. Be calm when renters have a complaint. Take time to listen to their concerns and provide resolutions. Send a notice before planning to enter the unit, even for property repairs.
Know what Amenities Renters Prioritize
Different tenant demographics will favor particular amenities over others. One amenity that most tenants want is a parking space or more storage areas around the rental. The more you’re aware of the needs of your target market, the better amenities you can provide that will align with what’s important to them.
Your rental unit should promote a sense of comfort and functionality to inspire the renters to stay for the long haul. The more desired amenities you provide, the more likely the renters will stick around.
Be Proactive in Seeking Lease Renewals
When a tenancy is due to end soon, bring up the topic of lease renewal to your renters. Avoid waiting until the last minute. You can talk with the tenant 90 days before the lease expires.
If they don’t plan to renew, you can adequately prepare by getting your property rent-ready again. You can start marketing and creating ads. This protects you from experiencing an interruption in rental income.
You may also want to incentivize renters to stay longer, especially with great tenants. Offer a rent discount, wave one month of rent, or provide a fixed rental fee. If they’re still hesitant, find out the reason. Perhaps a compromise is required, which is preferable since searching for new tenants again can prove to be a hassle, especially for busy property owners.
Be more flexible with tenant requests. If they want to make a few property updates, such as changing the paint color or redecorating the unit, consider allowing this. Some may want property upgrades or added amenities. If the cost is affordable, then go for it. This is less tedious than looking for new tenants.
Firmly Enforce Rules Without Being Overly Strict
It’s advisable to clearly outline policies in your leasing agreement when it comes to security deposits, subletting, pets, or collecting a late rent payment fee.
Indicating the outcome if the rules aren’t respected also helps the tenants remain compliant. Thus, they’re aware of their tenant’s responsibilities and what behavior is expected from them. When you have set expectations and provide a solid leasing agreement that renters can use as a guide, it’s easier for them to follow the policies.
This also allows you to remove the renters who don’t abide by the rules set in the leasing contract. That said, before taking drastic action when a tenant fails to adhere to a policy, you need to meet up with the long-term renter and hear what they have to say. This gives you a clearer story of what happened.
Be Fair in the Treatment of Tenants
Familiarize yourself with the Fair Housing laws. It provides protection to certain classes to prevent discrimination against one’s race, color, sex, religion, family status, national origin or disability. Treat all renters fairly and avoid favoritism.
For example, you may allow one renter to pay past the due date and won’t collect a late fee. This can create resentment and the other renters may not want to pay on time, seeing that there’s no consequence.
By keeping your tenants happy you’re more likely to see them renew their lease and stay long-term. Ensuring your renters are happy can, however, mean performing multiple tasks. If you need support in handling the rental property and catering to the needs of your tenants, you can hire a trusted property management company.
DeSantis Property Management has excellent services to ensure that property owners and their tenants are happy. Our professional and skilled team can help with all your management needs. Contact us today to learn more!