Tenants are the key to owning a successful rental property. Finding tenants is easy; finding great tenants that take care of your property is hard. Once you land the perfect tenant it is important to keep a positive relationship with them. The more appreciated by and connected to the landlord they feel, the better they will take care of the property and the longer they will stay. To keep a great tenant, be sure to do these things:
1. Communicate – Be clear with your tenant. The particulars of your property, the rent price and due date as well as any special items that you expect from them should be stated up front. Once the client is in the home, speak with them once a month to check in on your property.
2. Be Available – Not every claim a tenant makes deserves immediate attention, but bear in mind we are talking about keeping great tenants. Great tenants won’t (normally) be wasting your time. When something goes wrong, the tenants need to be able to reach you. You can’t expect them to take care of major problems themselves – it is your home after all. Many times tenants simply want to be heard and know that you are aware of the situation.
3. Keep Up With Maintenance – Your tenant will leave if everything is broken. Inspire your tenant to have pride in the property (and therefore take care of it) by making sure everything stays in tip-top shape.
4. Respect Their Privacy – Yes, it is your house, but you’re allowing a family to make it their home. Do your best to never come un-announced. You need to trust them, and they will trust you. You need to find new tenants if you can’t trust them.
5. Be a Human – Show appreciation for your tenants. Think about sending a card on Christmas or on their birthday. Be approachable and get to know them a little. In other words, be a human being.
By investing a little, you can keep great tenants in your home. That allows you to make more money and protect your investment. If you chose to do it on your own, you’re limited to a finite number of properties. However, when you work with Provident, we can help you do all of these items on a large scale that helps you build your property portfolio.