When you have fantastic tenants who take good care of their units and pay responsibly, being a landlord is smooth sailing. However, a landlord’s job is a two-way street, and it takes work to keep your best tenants around long-term. If you are struggling to keep your tenants longer than not, consider the following things you can do.
Treat Them Well
This may seem obvious, but it can take practice to achieve a healthy landlord-tenant relationship. Be aware of the laws in place to give tenants privacy; you don’t want to barge in anytime you want just because you own the place. Respect their homes, but also don’t neglect keeping in touch. A simple “thank you for being a great tenant” card or Christmas greetings card can remind your tenants that you are there and are a likable landlord.
It doesn’t pay just to be nice, though. Consider in what areas you can improve as a landlord. A neglectful, confusing, or sloppy job will discourage people from living under your rental roofs. You may also need to adjust your housing rules to make them more reasonable and comfortable.
Address Maintenance Issues Fast
As mentioned above, a neglectful landlord can be a nightmare to tenants dealing with annoying or dangerous maintenance problems. Landlords are responsible for answering tenants’ calls when something goes wrong. If the demand is too much, the landlord can hire a property manager to take at least some of the load. Regardless, setting up a way for you to address issues promptly is essential to running a successful landlord business.
Offer Renewal Incentives
Another way to encourage tenants to stay is to offer rewards for renewing, or for renewing with a longer contract. Rewards can be a rental discount, updated appliances or fixtures, restaurant or entertainment gift cards, and more. Some landlords have a rewards system for tenants who always pay on time.
Involve Them in Community
Lastly, great tenants are more likely to stay when the place ties them to a strong community. As a landlord, you can foster a community among your rentals and encourage all tenants to join. As fellowship with others is part of a healthy lifestyle, it is most likely to keep tenants long-term.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, and Pinterest.