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5 TOP TIPS FOR KEEPING TOP TENANTS!
5 Tips for Keeping Top Tenants!
Every landlord in the world dreams for a perfect tenant that pays their rent on time & treats your property as if it was their own & sometimes you may forget they are even there until you find the timely rental payment in your bank account (YAHOO) those types of tenants are the ones that are definitely worth hanging on to. As a good tenant is like gold in any market.
Once your dream tenant finally finds their way into your rental property, you should know that you will want to keep them as long as possible. Though sometimes you may not be able to control how long they stay as life circumstances sometimes means tenants will need to move on from the best of rental agents & landlords. As they might buy their own home or need to leave town. Who knows!
What you can control is being willing to keep the property up to a great standard and therefore keep your tenants happy & give them more of a reason to stay renting the property & take rent rises! As you have provided a space they can be comfortable in & be proud of.
Here are just a few easy tips that will assist you in keeping those excellent tenants in your rental property for as long as possible.
BE RESPONSIVE – Be responsive to your tenants. When your property manager contacts you about any issues regarding to the property, deal with it as soon as possible. Do not ignore any phone calls or emails, as this can lead to tenant feeling angry & neglected.
RESPECT THEIR PRIVACY – If as a landlord you need to enter your rental property for whatever reason, you need to ask your property manager to contact the tenant in advance & supply the correct written notice to arrange a visit.
PERFORM REGULAR MAINTENANCE – Budget & plan to perform yearly maintenance to address any matters that the tenant may not have noticed yet as an issue yet, but could however be a potential problem down the track.
ADDRESS PROBLEMS QUICKLY – If your property manager has notified you of a small maintenance issue that the tenant has reported (such as a leaky tap or a squeaky door) even though these are small issues make sure that you respond to them quickly. Do not wait for the tenant to make several complaints before you address this small issue, as it is these little problems that can be the beginning of an adversary relationship & make it more difficult to request things from the tenant. Things like rent rises or gaining entry to the property.
GO THE EXTRA MILE – While ofcourse tenants’ requests do need to be reasonable, it’s important to keep an open mind when it comes to the maintaining of the property. Sometimes it is worth going the extra mile in order to ensure your tenants stay put. This could mean things like installing an air-conditioner if a very hot summer is predicted or putting in fresh carpets as they may not have been touched up for 12 years. Things like this also don’t just make your tenant super happy it also adds value to your property.
Good tenants are ofcourse one of the most important factors to maintain great returns from your property over the longer term. If as a landlord you live by the tips above there is a much higher chance that you will save thousands of dollars in advertising and vacancy costs & instead have happy tenants that renew year after year!