4 Things That Will Keep Your Renters Happy
It feels good having tenants in your rental property, doesn’t it? No more showing the property, weeding through tenant applications, and so forth. You have found the perfect tenants – and now you are just holding your breath in hopes that they decide to renew their lease once it expires.
Whether you realize it or not, you can have a lot of influence on this decision. See, when tenants are renting a place, they are comfortable in and they are happy with their situation, there is a good chance they will seek to renew their lease.
It is your job – as the landlord – to do what you can to keep your renters happy. Start with these 4 things:
1. Always be responsive. When your tenants reach out to you, answer. When they are in need of a repair or have an emergency, make an action plan and get it done. Your tenants rely on the fact that you will hold up your end of the lease – and that you will be there for them.
They don’t need you to always act immediately, but rather an acknowledgment that they have a need and are reaching out to you about it. Your tenants should feel confident that when they reach out to you, you will handle whatever the issue is.
2. Be upfront and honest with no surprises. Not everyone likes surprises – especially when they come from your landlord or affect your life, well-being, and family.
As a landlord, it is up to you to offer a lease with no hidden clauses and no fine print. Be clear about your policies and make sure they know and understand them before the lease is signed. This will ensure that everyone is on the same page and there should be no surprises.
3. Get personal without getting personal. There are things that you can do as a landlord that will show you are a caring, compassionate, grateful landlord without making things weird, too personal, or over the top.
For instance, never show up unannounced to drop off a freshly baked pie. However, you could send your tenants a holiday card and a gift card to a nearby restaurant. Or, if your tenants have kids, send them movie passes or something fun to do within the community when summer commences.
These are personal touches that show you have a heart, but they don’t cross the landlord/tenant line.
4. Be respectful. You have agreed to let your tenants reside in your rental property. While it is technically owned by you, your tenant has the right to live there – and a right to privacy – throughout the term of the lease. It is important that you respect this.
What does that mean for you? Don’t show up unannounced and never enter the property without sufficient notice.
Good tenants are hard to find. So, once you find them – you need to do what you can to hold onto them. Following these four tips will definitely have your tenants considering a lease renewal when the time comes.
Marina Shlomov, a managing partner atALH|Podland Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out atwww.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube,Bigger Pockets and REI CLub and LinkedIn.