Keeping Your Tenants Happy
Looking for tenants isn’t a walk in park, it takes a lot of time, effort and money on your side as a Landlord. We’ve seen a handful of landlords attracting tenants but are having trouble keeping them. Tenants will come and go and you redo the process from the application to the signing of the contract which will consume time and resources. We would avoid this as much as possible and focus more on keeping your current tenants to also save yourself from the hassle of attracting new tenants.
Establishing a good relationship with your tenants and keeping them happy will be favorable in your part. Tenants who value their landlords tend to take care of their properties more and will shy away from issues such as late payments. In short, it’s a win-win situation for both the landlord and the tenant. But this isn’t as easy as you think. Building a good relationship with your tenants also require time and effort. The question is, how do we do it?
Educate Your Tenants
At the start of your relationship, you should expect that the tenant does not understand the rules and policies of your property. It is best to discuss this in detail with your tenant and encourage them to ask questions to some grey areas in your agreement and if they find a part of the lease that is confusing. This will also prevent future misunderstandings about the lease and save you a lot of time.
Do repairs ASAP
One of the biggest frustrations of tenants with their landlords or property managers is delayed repairs on the property. Pending repairs are an inconvenience to your tenants. When your tenant requests for a repair, you or the property manager should make it a priority to get the repairs done as soon as possible. This will ensure your tenant that you are also looking after them. Having a reputation to respond quickly to requests such as repairs will also fetch you more tenants in the long run.
Do regular inspections
This is one of your responsibilities as a landlord or a property manager. Performing regular inspections shows your tenants that you are concerned with the status of the property and their safety. Doing regular inspections will also let you point out things that have to be repaired or replaced to avoid a major repair.
Rewards
You should also show appreciation to your tenants even in the little things. Rewarding your tenants by giving them a discount if they decide to renew their contract is a great example and your tenant will also be very appreciative with your effort. These little things will go a very long way in your relationship with your tenants.
Communication is key
This is probably the most important factor that will help you keep your tenants happy. When tenants reach out to you they expect a quick reply. You should also make sure that either you, your property manager or one of your staff will be able to send a reply within a 24 hour period.
