As a landlord, you’re aware of all the costs associated with getting your property ready for another set of tenants. When you consider this, keeping a current tenant longest may be the most financially sound strategy for your rental business.
While you can’t avoid tenants moving out due to understandable reasons like relocations, you must do your best to minimise local moves. Typical property management duties like pest control and periodic drain unblocking may keep a tenant satisfied, but why not go the extra mile with these thoughtful ways to keep your tenant happy in your home?
A tenant-landlord relationship, just like any relationship, will require chemistry to work so you must screen prospecting tenants wisely. You can ask questions related their profession or line of work and reasons they’re a looking for a new place to move. Conduct a background check and ask for references. Screen for red flags like criminal records or frequent relocation history. Finding the right tenant may take time but will maximise your profits better than settling with the first tenant who walks in for viewing.
Schedule Regular Visits
Make sure you take time to schedule regular checks with your current tenant. Inform the tenant how often you wish to come and schedule the exact appointment in advance. Try not to focus the visit as checks on your property but more of checking on what their needs are. Make it appear that you’re making sure they’re comfortable in your property rather than checking what they’ve done with your house. Making tenants feel genuinely cared will make for a longer tenant-landlord partnership.
Bring Small Tokens and Gifts
Small tokens to show you care will go a long way in establishing rapport with your tenants. On the move-in date, leave a welcome present for your new tenants to enjoy in their new home. It can be anything you think they would appreciate like a bottle of wine or a wireless Bluetooth speaker. If they have kids, don’t forget to pick out something for them as well so that they will feel extra special.
To keep a tenant happy in your home, go beyond your landlord duties of maintaining the property. Kindness will go a long way, so try out these thoughtful ways to minimise your tenant turnover.