self-managing landlord

Three Ways to keep tenants in your property long-term


Something that self-managing landlords and property management companies can all agree on is that it’s best when a responsible tenant stays in a particular property long-term. When a tenant stays in one property, they are likely to notice issues or damages and report them more quickly, the home will likely stay in better condition, and you can trust that your home is in safe hands and being cared for.

It starts with day one.

Keeping a tenant in the property should start with the first time they reach out to inquire about a property they are interested in renting. Responding quickly, answering questions in a clear and transparent manner, and ensuring the process goes smoothly is a great first step to keeping your tenant happy, and in the property longer.

 

Even if a tenant has to move at the end of the lease, and they aren’t able to stay in the property longer, keeping an open line of communication and clearly stating your processes will allow them to feel comfortable reporting any maintenance issues, damages or problems regarding the property.

 

Make sure they know where to go for a variety of issues.

Making sure that your tenants know how to report maintenance issues, and how long they can expect it to take, is essential. If they have other concerns, having a number they can call to get issues quickly resolved or questions answered will help them to feel like they can reach out more often.

 

If you frequently don’t return calls, don’t communicate timelines and don’t leave a line of communication open between the landlord/property manager and tenant, they likely will feel frustrated when issues arise. Making sure they feel comfortable communicating with you about anything that comes up is a huge piece to tenant happiness.

 

Show them the same care you would hope for if you were renting.

Although they are the tenant, they’re also living in and caring for your, or your client’s, house and property. Showing tenants you value their business and positive treatment of the property or unit can look like asking for their feedback, following up after issues are resolved to hear about their experience, and paying attention to both the positive and negative reviews you receive.

 

Something that could help you truly show your appreciation for their tenancy and care of the home is to give them something to show you appreciate them. This could look like a small gift during the holidays, on their birthday, or at the beginning or end of their lease. We have been gifting our tenants something to show our gratitude for several years now, and have seen first-hand that a small gesture can go a long way. In fact, many of our tenants choose to continue to rent properties managed by us even if they move out of the initial unit. We are proud to be a company that not only says we value our tenants, but actively takes steps to show them our appreciation. Showing this gratitude will keep tenants feeling comfortable renting with you for longer.

 

 

Like we shared above, keeping tenants in a home long-term starts with your initial interactions, all the way to how you handle maintenance issues, communicate with them, and how you respond when they initiate a conversation.  If you’re self-managing a property, feel free to browse our YouTube channel or Learning Hub to get more information. You can always reach out to us by filling out our contact page, here.

Similar posts