Wondering how to make your tenants want to stay longer? By following a few simple tips, you could have tenants that could stay longer than they had initially anticipated. Imagine having the perfect tenant that stays and pays on time. There are no tenant issues because they look after the property, like their own. And by renewing the lease on time, you never have to worry about finding new tenants for your property. No vacancies mean your house is never empty, with mortgage payments to meet. So, getting your tenants to rent for longer, makes sense in the long term.
Look for tenants that are more likely to stay than move.
It is a well-known fact; middle-aged or older tenants prefer not to move homes frequently. Tenants with families and school-going children look for the stability needed to complete their children’s education goals. Tenants with stable incomes and families are likely to keep your property in good condition, which younger tenants are less inclined to do. Students and single people are not too particular about their living standards and often damage properties. So, start by choosing the right kind of tenant. You want to rent to people from around the area preferably, as they already have a connection with the place. They may have even grown up in the neighborhood!
If you want your tenants to stay – charge a fair rent from the beginning.
Of course, you would like to get the highest rent possible for your property – that is understandable. But by charging more than the fair market rate, your tenants may start asking the neighbors, or comparing the rent for similar properties on the market. And if your tenants can strike a better deal elsewhere, they may feel cheated, and not want to stay. It is always wise to compare rentals around the location and set a fair rent to attract quality tenants. Of course, every landlord wants the highest rent for their property, but it is pointless if you have to look for new tenants every few months.
Let tenants make your house their home, and they will stay.
If you feel secure in your choice of tenants, you will be comfortable letting them add their style to the property – call it home! Let them paint a room the way they want, add wallpaper, or hang pictures; they will feel more at home. But first, ensure that they are not going to damage the property.
It’s generally a safer bet to offer your property as unfurnished. That way, tenants can move in with their furniture and not worry about disposing of their items. In time the house they rented starts to look like a familiar home, and they are less likely to move out if everything is already in place. Offering the property as fully-furnished has its pros and cons. On the one hand, you can charge a higher rental, and the move-in can be easy if everything is in place. But on the other hand, you may have to worry about damage to the property, furnishings, and furniture, adding to the overall housekeeping chores.
Most landlords paint their properties in a neutral shade; for a reason. It looks clean and fresh. Besides, a light shade goes well with contrasting furniture, tapestry, and contrasting walls. if the kids are happy with their rooms, your tenants are going to stay!
Timely property maintenance is a must.
If you want tenants to stay long-term, top-quality maintenance is a must. But despite that, if your tenant calls because they need something fixed, respond promptly. Don’t keep your tenants waiting to get things fixed, as that quickly sours the relationship. If the paint needs a fresh coat, do it without waiting. Offering to repaint the property can win tenants’ hearts’ very easily! But also have a list of a good handyman, a plumber, an electrician, and an HVAC expert to handle unexpected calls. Providing timely maintenance is very important to let your tenants feel cared for.
You trust your judgment. Also, trust your tenants.
So, you have conducted background checks, vetted your tenant, and chosen wisely; well done! Now you need to trust that your tenant is not going to ruin your property, without you checking on him all the time. Turning up uninvited, over one pretext or another can create awkward and even unpleasant situations. After all, we all value our privacy and don’t want people looking over their shoulders all the time. Checking the property all the time is one of the best ways to chase your tenant away. If major repairs are warranted, or during annual property inspections, it is always a good idea to be present at the property, to ensure that you are fulfilling your legal obligations. But checking on your tenant all the time can be a big spoiler.
How we can help
Hiring a reputable property management company can ensure your property is rented to the right kind of tenants. As experienced property managers, we can help you avoid the hassles of replacing tenants every few months. By thoroughly vetting potential renters, as part of the tenant screening process, we can select the right kind of tenants for your rental property.
Imagine how much easier it would be if we scheduled and performed regular property inspections, checking up on tenant activities, so you as a landlord, do not have to. Our property management professionals have the necessary knowledge and required experience. Look no further than Real Property Management Premier.
Contact us online or call 954-800-4433.
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