Finding a good and responsible tenant who takes care of your property and pays his rent on time is a challenging task. However, in today’s real estate scenario it is very important to retain good tenants provided that you are lucky enough to find one. Retaining a tenant saves you a lot of time and money and prevents vacancy periods. Here are some tips for landlords that help them retain good tenants for long term.
- Be approachable and responsive: Whenever your tenant wants to talk to you or discuss something important, you should be approachable and available. Tenants do not like the fact that the landlord is never there to listen to their woes and it is essential that you communicate with them. A little effort on your part will be surely appreciated by the tenants and you should aim to build up a healthy relation with them.
- Pay attention to their requests: Listen to the requests of tenants and try to resolve the issues if possible. Even if you disagree to their suggestions, you should talk to them and explain why you disagree. You should promptly attend to their calls, emails or texts and if possible revert to their calls immediately. These steps will strengthen the relationship and help in building credibility.
- Address their problems: If any tenant has some problem in the rental unit then make sure you resolve the issues as quickly as possible. Avoid delaying the requests for any repairs as this will create problems for the tenants. You should have the phone numbers of contractors so that you can timely resolve all issues that require immediate attention.
- Buy quality fixtures and appliances: Make sure that your property is equipped with quality material and appliances. This will please the tenants and make their life easy and smooth. Tenants do not mind paying more for a property that is well maintained and has the latest gadgets.
- Make your rental property available for pet owners: Properties that are pet friendly are in demand and tenants occupy such properties for long as these are not easy to find. By setting some rules regarding the type of pet allowed and requirement of pet insurance or a pet deposit can work in your favor.
- Stay in touch and respect the tenant's privacy: To retain a tenant for long, it is essential that you keep in touch with them but without interfering in their lives. You should remain approachable, friendly and communicate with them regularly along with paying due respect to their privacy.
Following these simple steps will surely help you have a wonderful relation with your tenants who would also want to stay in your property for a longer time.