Avoid tenant turn-over

Keeping good tenants in your rental property is a great idea for a number of reasons. First and foremost, it helps to ensure that your rental property is well cared for and maintained. Good tenants are more likely to take care of the property, pay rent on time, and respect the rules and regulations that you as the landlord have in place. This reduces the chance of costly repairs and legal action that may be taken in the event of a tenant violating the lease agreement. 

Additionally, avoiding high turnover in your rental property is beneficial for both the landlord and the tenant. High tenant turnover can cause disruption in the rental market and can be costly for the landlord in terms of advertising and administrative costs. When tenants stay longer, landlords can avoid the costs associated with tenant turnover, while tenants can enjoy the stability of living in the same place for an extended period of time.

Here are the top 10 things landlords can do to keep their good tenants!

1. Respect your tenants: Show respect and appreciation for your tenants and treat them fairly. Respond to all tenant inquiries in a timely manner and provide clear communication. 

2. Offer incentives: Offer incentives such as rent discounts, flexible payment terms, and other rewards for long-term tenants. 

3. Maintain the property: Make sure the property is well-maintained and address any repairs quickly. 

4. Offer amenities: Offer amenities such as a gym, pool, or other shared spaces that make the property more attractive. 

5. Get to know your tenants: Get to know your tenants and build relationships with them. This will help them feel more comfortable in their rental. 

6. Allow pets: Consider allowing pets as this can make a property more attractive to potential tenants. 

7. Be flexible: Be flexible with tenant requests and accommodate special needs when possible. 

8. Consider rent increases: Consider gradual rent increases instead of large jumps to keep tenants from feeling like they’re being taken advantage of. 

9. Provide feedback: Provide feedback to tenants on how they can improve their renting experience. 

10. Invest in technology: Make it very easy for tenants to pay rent, take care of maintenance requests, and communicate in general.

Reach out to the M Property Management Company if you want to know what your house could rent for with a free, no-obligation rent estimate. Call 509-255-8071