Happy tenants are the key to a long-lasting landlord-renter relationship, and their attitude plays a big role in boosting your bottom line. This is why every property manager and landlord wants to keep them loyal to the rental unit.
Good tenants pay their dues on time and strive to minimize the damage done to the property. It's in your best interests to keep them happy.
Below are six strategies you can start using right now to keep your tenants happy and prevent them from leaving.
Prioritize Rental Property Maintenance
No one likes to live in a rental unit with broken plumbing, a clogged toilet, and broken HVAC equipment. These are problems you should address and resolve on time; ideally, before your tenant picks up on them.
Most property managers conduct regular maintenance checks to see whether the rental unit is livable. Also, take care of the small things before they become a big issue later on, such as water leakages that may result in a mold breakout. As a rule, tenants will be happy if the rental unit they are living in is safe and habitable.
Make sure your tenants note all the good you do to make their lives more comfortable.
Have a Pet-Friendly Policy
Most renters would do everything reasonable to live with their pet - this includes leaving a rental unit because of restrictive pet policies.
You may have concerns about the pet running about and damaging the property. This is why it makes sense to charge a small fee for the pet (to account for any damage they may do), and the tenants will happily pay it. But it is unlikely that a tenant with a pet would consider moving in if this is a no-pet property.
Make Yourself Available
Most tenants only reach out to their landlord if they need something urgent, such as major repairs. You should offer them prompt responses in this case and tend to the issue at the earliest.
Here's how you should conduct yourself:
- Ask the tenant to create a detailed report detailing their problem
- Arrange for a contractor to make the necessary repairs
- Inform the tenant of the repairs
- Ask the tenant for their feedback once the issue has been resolved
Respect the Tenant's Privacy
While landlords have the right to enter their property, this is balanced against the tenant's right to privacy. This means you cannot barge in the rental unit uninvited and must honor your tenant's privacy by providing them with a written notice before a property inspection.
Speaking of the landlord's right to entry, they are only allowed to carry out necessary repairs, show the unit to prospective tenants, and during emergencies.
Offer Incentives to Your Tenants
Show your appreciation to your loyal tenants by providing them with incentives. For instance, you can show offer them a discount if they pay the rent early. Better yet, consider giving them a free month of rent after a lease renewal. Alternatively, you can also refund a month of rent. In other words, you're paying them cash instead of the other way round.
This incentive will go a long way in helping with tenant retention - it's cheaper compared to marketing expenses and the cost of vacancy.
Always Act Friendly to Your Tenants
Always conduct yourself in a friendly manner to your tenants. Talk to them in a friendly and courteous tone when addressing them. Try not to bring up uncomfortable topics, especially when there is no need to do so.
It's also part of good etiquette to wear professional clothes when meeting with clients. Remember, always treat your tenants the way you want to be treated.
Wrapping Up
Remember, there is a fine line between keeping your tenants happy and looking like a pushover. Define boundaries where needed and be assertive when the situation calls for it.
Keeping your tenant happy does not have to be hard work as long as you follow the basic communication strategies you learned in high school.
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