As a landlord, one of your desires is to have long term tenants that are reliable, pay rent on due dates and take care of your property. If the rate of turnover is high, it will cost you more.
It is more expensive and time consuming to constantly be on the lookout for new tenants. This is why it is important to keep your tenants happy. It is profitable to focus your attention on making your tenants happy.
To help you with that, we have some tips. Continue reading to find out how you can keep your renters happy and reduce the rate of turnovers as a landlord.
Communicate tenancy terms and expectations
You and your tenants have to clearly understand each other. Explain what you expect of your tenants and let them describe what they expect of you. Both parties should sign the agreement and make sure that they are on the same page and stick to the end of their bargain. Make sure that any clause is clearly defined and discussed to avoid misunderstanding going forward.
Be human
Humans are generally drawn to warm, cheerful and receptive people. Be friendly and welcoming. Maintain open communication with your renters to avoid avoidable misunderstandings. When you are courteous to your tenants, they will feel comfortable in the house knowing that they are respected. Make it a habit to check on your renters. The only time some landlords reach out to their tenants is when the rent is due. This is not good enough. A phone call or a message to let them know that you’re available if they need anything will show that you care.
Respect their privacy
It is your property and you have a right to come around to inspect, but they have a right to their privacy. It is not nice to visit unannounced. If you want to keep your renters happy, you should always inform them of your visit to the house ahead of time.
Perform repairs on time
When a tenant makes a repair request, you should respond quickly. Imagine a tenant that has to wait all week to get their broken tap repaired. This can be frustrating especially if they are paying a high rent. Getting repairs done quickly shows that you’re considerate and interested in their well-being.
Respond to complaints quickly
When they have issues that need to be resolved, respond to them quickly. You might not be able to provide an immediate solution in all cases but responding quickly and letting them know when it will be sorted out shows that they are top priority. A slight delay may sometimes occur but complaints should be resolved at most within a week.
Find out the best way to screen tenants by reading our article The Best Way To Screen Tenants In 5 Steps. As a landlord, it is important that your property is rented out to responsible renters. This article provides insight on how to ensure that your house is in good hands in order to avoid severe damage of your property. It explains the need to screen tenants to avoid situations like high turnover rates, delayed payment of rent and eviction of tenants because it is bad for business.
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