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Five Tips for Keeping Top Tenants
Dream tenants that pay on time and treat your property as if it’s their own, along with those you barely know are there except for the regular, timely rental payment you find in your bank account, are worth hanging on to.
As any landlord knows good tenants are worth their weight in gold in any market. Once they’re in your rental property, you want to keep them as long as possible. Though changes in life circumstances mean sometimes tenants need to move on from the best of landlords, here are some easy-to-follow tips that will help you keep good tenants in your rental property for longer.
Be responsive – Be responsive when a tenant, or when your property manager contacts you about an issue you must deal with. Do not ignore their calls or tenants will feel neglected.
Respect their privacy – Except in the case of an emergency, this means calling in advance to arrange a visit if you need to address some issues with your tenants.
Perform regular maintenance – Perform yearly maintenance to address the matters the tenants may not notice but could be potential problems later on.
Address problems quickly – If your tenant calls complaining of a leaky tap or a squeaky door, make sure you address the problems and fix them quickly. Do not wait for the tenants to complain several times before you tend to their issues.
Go the extra mile – While tenants’ requests need to be reasonable, it’s important to keep an open mind when fielding a request for an ‘optional extra’ from a tenant. Sometimes it’s worth going the extra mile in order to ensure your tenants stay put. This could mean installing an air-conditioner if a long hot summer is predicted.
Good tenants are one of the most important factors to maintain great returns from your property over the longer term. By following the tips above its possible you will save thousands of dollars in advertising and vacancy costs and have happy tenants that renew year after year.