Being a landlord isn’t easy because of the many problems you have to face that need solutions. Take, for instance, the tricky question of how to retain good tenants. Although sometimes the motives tenants leave are outside of your control, there are preventable cases that only need proactive actions from you as a landlord.
If you don’t want tenants moving out from your rental property, know their reasons and follow these tips to prevent them from leaving.
Renters want to have a safe and healthy living environment. If they find that your property doesn’t meet their expectations, they might decide to move out. As a landlord, it’s your responsibility to ensure that health and safety are prioritized so that tenants have a reason to stay on your rental property.
Make sure to do regular maintenance inspections and minimize the safety hazards on your property. Also, set an effective house policy to avoid actions in the property that can be detrimental to the health and safety of your renters.
Another reason that can cause your tenants to leave your property is unnoticed or disregarded repair requests. It’s your responsibility as a landlord to ensure that the property is in excellent condition. When a tenant demands maintenance or repair, address it immediately.
Responding to repair requests keeps your renters satisfied and happy. Communication lines should always be open to making it easier for them to contact you and respond to their demands right away.
Moreover, you need to be proactive with your property maintenance. Remind your renters to always check their unit for any damages. Identifying the problem early helps you solve it before it becomes a big problem.
Broken promises can break the harmonious relationship between landlord and tenant. If you have promised something to your tenants, you should know how to keep it to win over their trust.
Common deals like adding amenities or lowering their rent are sure to make your tenants happy. Many landlords enter into such deals to keep their tenants, but sometimes they fail to fulfill or tend to forget their promises. This attitude is a no-no because it can sow mistrust and ruin your relationship with your tenants.
Many tenants experience financial troubles, especially due to the pandemic. If they think that rent is too much, sooner or later they’ll decide to move out and look for somewhere affordable.
That’s why if you want to make your tenants stay or attract new renters, consider setting a competitive rent price. Also, don’t raise the rent if you don’t want tenants to leave. Keep in mind that looking for new tenants is expensive with all those advertising expenses.
If a tenant plans to move out because of expensive rent, consider reducing the rent to ease a little bit of his/her financial burden. You can also offer a cheaper unit than his/her current unit to make him/her stay.
Sometimes your tenants get into a sort of misunderstanding or bad blood for whatever reasons. This might cause either party to move out of your apartment and stay out of trouble. As a landlord, it’s your responsibility to avoid this thing from happening by ensuring that they always observe the house policy.
Enforce your house rules to all your tenants, and there should be no favoritism. When one tenant doesn’t follow your policies, others might follow that tenant to break the rules or be annoyed by that tenant’s recalcitrant behavior.
A safe neighborhood is what tenants want, If there are bad or rude neighbors, they can be a concern for your tenants and cause them to leave your property. While you can’t always control the mindset and behavior of others, you can nevertheless have a nice talk with these unruly neighbors.
Tell them that your tenants are complaining regarding their conduct. Then, encourage them to have respect for your tenants. If their behavior goes out of bounds, remind them you can resort to legal remedies for the problem.
Many tenants sometimes complain of the insensitive and unprofessional behavior of their landlords. That’s why if you’re going to manage a rental property, you should always observe professionalism with your tenants.
Be courteous when you have something to say to them and always treat them with respect. When they’re requesting something, respond to it right away. Don’t let them wait for a long time.
Now you know how to keep good tenants on your property. Remember that vacancies can be expensive because of all the advertising. So, it’s better to retain your tenants as long as possible. You should know what your tenants want to maintain a harmonious relationship with them.