How to Keep Renters Happy

Any property owner should look to keep their renters happy and there for the long-term. Long-term tenants guarantee a consistent flow of income for your rental property. Additionally, it saves money by doing away with the need to market your property and conduct tenant screenings after each move-out.

To enjoy all these benefits, you must first identify and implement some measures that can help maintain your tenants’ happiness. This can be the difference between you enjoying good returns from your property or taking in losses.

At Halcyon Real Estate, we offer these doable steps you can take to make sure your tenants sign long-term leases and are kept happy: 

Modernize the Property

Renovations are often avoided by property owners because they require substantial capital. Renters are drawn to attractive rental properties, and they’ll want to remain longer if they notice that you’re making changes to make them even more livable.

In addition to the enticing appeal of an updated rental space, it might also be a strategy for gaining a competitive edge in the real estate market. The fact is newer rental properties offer more up-to-date amenities. So, if you want to keep in competition, you should think about making ongoing, periodic upgrades.

Some of the upgrades one should consider on a rental space include replacing fragile materials with strong ones, adding storage, and changing the lighting.

Enforce the Lease Agreement

A property is a considerable investment, and we realize that you would wish to maintain it in the best condition possible. You will have in place several rules with regard to maintenance, smoking, and pets.

The key to maintaining an amicable relationship with your tenants is having all these rules in writing and setting a good rental rate. Once they sign the lease, they should get a copy of the property rules. This measure will help you be on the same page from day one. They would understand what is expected from them and should strive to meet those expectations.

Be Hospitable

Change is energizing but difficult. It can be intimidating and hard to get used to a new place. As a landlord, you can lessen these feelings by:

• Provide a heartfelt greeting and clearly communicate with your tenants on their first day of possession.
• Before tenants move in, make sure the unit is neat.
• Try to get the neighbors to meet them.
• Making a prospective tenant feel welcome can be as simple as stating that you are available to help.
• Offer suggestions for convenient locations, such as the closest hospital or transportation center.

Maintain the Property

Renters are quite selective when it comes to the condition of their rental space. They would choose only a space that is in the best condition and where the appliances are working as they should. Even once they have signed the lease, they would expect that these expectations continue to be met.

There is also the legal nature of it to consider. Property upkeep is the landlord’s major responsibility, according to the landlord-tenant laws. Every tenant has a right to a livable place. You might be found in violation of the state legislation requiring that the space be habitable if you don’t perform the required upkeep.

Implementing a maintenance schedule would be the best line of action to prevent that situation. Preventive maintenance should also be implemented, along with scheduling property inspections and exercising being responsive to repair requests. You reduce your overall repair costs in the long run.

Boost Security

It is wise to exercise caution by taking preventive steps because robberies can be upsetting for your tenants. It’s unsettling when people intrude, especially at night.

It is your obligation as an owner to make sure your tenants are comfortable. Install security alarms, camera systems, strong locks on the doors and windows, and motion detection lights to protect them. Regularly testing your security systems can also help to increase the safety of your property. Deploy smoke detectors and fire alarm systems to ensure fire safety practices.

Remember that for the duration of the lease agreement, your property is your tenant’s home. By ensuring they are safe, they will be more than happy to renew their lease come the end of the lease agreement.

Hire a Property Management Company

To avoid problems with your property, you should deal with a reliable property management company. While you have invested in real estate, you must appreciate the technical nature of the property industry. Without this expertise and experience, you might find yourself out of your depth.

Property managers are knowledgeable in real estate law. They can handle the daily goings-on of the property as well as the legal and financial aspects.

Bottom Line

With the aid of these practical strategies, you can keep your tenants happy and enjoy the long-term benefits that come with real estate investment.

If they really want to get as much out of their asset, Poway property owners should hire a property management company. The Halcyon Real Estate property management staff has a wealth of knowledge in the following areas: property marketing, premium tenant screening, rent collection, maintenance, regular property inspections, and financial reporting.

When you work with us, we treat your rental properties like they were our own. Working with Halcyon Real Estate will give you access to a wealth of resources. If you don’t have the time to work long hours on it each week, let our professionals handle your property on your behalf.