If you’re a good landlord, you’ll be able to attract better tenants. Once you consider your rental as a business, you’ll treat your tenants as customers. You’ll also do your best to provide them with perfect service because they’re paying customers.
Of course, as a business owner, you want to retain those high-quality customers for as long as possible. A business-savvy landlord knows how to keep reliable tenants long-term.
Generally, a landlord spends around 20 to 40 hours searching for a new tenant. Landlords use this time to advertise the property, show the unit to prospective tenants and conduct tenant screenings.
Having a good tenant will mean fewer maintenance problems and late payments. In short, retaining a good tenant can save you hundreds of hours in a year.
To be able to retain a good tenant, you have to be a good landlord. Good landlords treat their tenants as customers, abide by the law and always go the extra mile. In this article, you’ll learn a few tips on how to become one.
1. Make Sure Your Tenant Adjusts Well to the Area
Your tenant may be new to the neighborhood. To help your tenant adjust, give them an inside look of the town. You can provide them with a printout of directions to the grocery store, pharmacy and other necessary facilities.
You can find these directions from an online map. As an additional benefit, once you have the printout, you can re-use it for future tenants.
2. Give Your Tenants a Welcome Note
If you give them a brief welcome note, it will set a bright tone for your business relationship. You can write a positive memo about their tenancy. You can also include your contact information in case your tenant doesn’t have it yet.
Lastly, you can include special instructions for the unit, like when the trash is picked up or recycled. You can also include important contact information for cable or utility companies.
3. Make Sure to Stock the Bathrooms
The new tenant might be too preoccupied with moving that they forget to buy toilet paper. Your tenant would feel grateful if you make sure to stock toilet paper and soap dispenser in all bathrooms. You can also provide paper towels and a cleaning product to encourage your tenant to keep the property clean.
4. Help Your Tenant Change Their Address
Provide your tenant with unit address labels or change-of-address packets. Doing this will show your tenant that you think ahead and have attention to detail and are responsible.
When they move-out, you can also provide change-of-address instructions to prevent unwanted mail from being delivered to the unit. Moreover, you won’t have to forward or throw away any unwanted mail.
5. Make Sure You Dress Appropriately
When you first meet your tenant, it’s important to dress neatly and suitably. First impressions do last. If you present yourself as a tidy person, it might encourage your tenant to keep the unit clean.
6. Follow the Lease Guidelines
Don’t take matters into your own hands when you encounter problems with your tenant. Make sure you follow the guidelines in the lease agreement, as it’s what you and your tenant signed. If the problem isn’t included in the lease agreement, you can study your city’s laws, as well as seek advice from other landlords.
7. Always Remain Calm and Collected
Remember that your tenant is also your customer. When you have a major disagreement with your tenant, make sure to remain calm. These include situations when your tenant doesn’t pay rent on time or causes major damage to the property.
No matter what the issue is, you should never swear or yell at your tenant. It’s against the law to threaten your tenants or withhold their tenant rights.
8. Treat Them as a Tenant, Not a Friend
It’s great if you have a friendly, professional relationship with your tenant. However, make sure that you draw the line to prevent it going further than that. Keep your relationship with your tenant as purely a business one.
Keeping emotional distance is helpful because you might need to evict them or meet them in court. At the end of the day, your business’ bottom line is what’s most important. Protect your rental revenue as best you can to keep your rental business healthy.
9. Make Sure You’re Consistent
You can be consistent with your tenant by always following the rules in the lease agreement. Additionally, you can do so by quickly responding to maintenance requests.
Make sure that you also treat your tenants with the utmost respect. You can do this by being professional and courteous whenever you talk with them.
10. Be Accessible
Whenever your tenants must reach you, you need to be available. You can do this by providing your tenant with all your contact numbers, including your email.
Your tenants should be able to reach you even at night during emergencies. Of course, your tenant needs to be considerate of your time and should only contact you when necessary.
11. Walk Them Through the Lease
You can show new tenants that you’re a good landlord even before they move in. One way to do it by walking them through the lease and reviewing the clauses.
Explain to them the lessor-lessee rights and responsibilities before you both sign the agreement. This will set things right and prevent future misunderstandings. It’ll also show your tenant that you’re a trustworthy landlord.
12. Respond to Your Tenant as Quickly as Possible
Make sure you quickly respond to your tenant when they call or email you. Remember that your interactions with your tenant are also business interactions. In turn, it’s good business etiquette to respond as quickly as possible.
Inform your tenant in advance when you’re going to be away, for example, on a vacation. This will let them know that you won’t be able to respond to their calls quickly.
Once you’re able to find good and reliable tenants, you must do your part to retain them. Having long-term tenants will save you a lot of time because you won’t need to look for new ones.
You can also have peace of mind knowing that your tenant will maintain your property and pay rent consistently. If you apply the tips above, you’ll be able to become a good landlord and retain your tenants long-term.
If you have any property management inquiries, contact Haas Properties at (770) 928-4910.