How to Keep Renters Happy

Working to cultivate a good relationship with your renters can help to get the most from your rental investment and help you reach your goals as a landlord.

Happy tenants should be the goal of every landlord as they have many benefits including:

• Creating a positive environment.
• Paying rent promptly each month.
• Reporting property damages promptly.
• Slower wear and tear as the tenants take greater care of the property.

We at MN Property Nerds believe keeping your renters happy is one of the best ways to ensure the success of your rental property. So, we have put together this article to help you spread some joy!

Respond to Maintenance Requests Quickly

Start by looking for opportunities to prove to your tenant that you prioritize them. When they report a problem, quickly schedule a property inspection. Then coordinate repairs and provide regular updates.

Tenants notice if their needs are taken care of. They want to enjoy living in a habitable rental home especially if they pay the rent on time. So, having a proper maintenance plan and performing frequent inspections to spot signs of damage can build confidence between yourself and your tenant.

Another way to show you care for your tenants could be to arrange a professional cleaning service once or twice a year. Not only will this help to keep your property’s value and attractiveness, but it will also impress your tenants.

Improve Your Ability as a Landlord

Being a landlord is a people business, so it helps to develop your landlord skills. Practice patience, flexibility, and polite behavior. One of the main reasons that renters choose to become long-term tenants is they value friendly relations with the landlord.

Honor your tenant’s privacy and provide a notice when performing property inspections. Encourage open communication so your renters can bring you their feedback and concerns. By addressing the little things, you help strengthen the landlord-tenant relationship over time. Leading to reduced conflicts and creating a peaceful environment.

Boost Your Amenities

Renters tend to have common desires in a property. The kind of amenities they appreciate is a strong Wi-Fi speed, an outdoor space, more storage, and updated appliances. So, when you perform rental renovations it’s a good idea to target amenities that tenants want.

Another strategy is to customize your property to fit the needs of your target market. For example, if you have a pet-friendly policy, provide pet facilities in your rental. You might build a fenced-in yard. If you plan to attract families, provide more storage space.

Proactively Extend Leases

If you have a tenant you wish to keep for the long term, initiate a renewal discussion a few months before the tenancy ends. Bringing up the topic of lease renewal allows renters to make up their minds whether to stay or move out and by coming to them, they know you value their tenancy.

Should your tenants decide to move on, you have also given yourself plenty of time to find new tenants. This gives you the opportunity to schedule property showings with tenants still renting your unit. Acting quickly helps you land tenant’s right away, protecting your income.

If you have a good relationship with your tenants, then you can also seek feedback on how to serve them better. To keep good tenants, you can hand out incentives such as keeping the current rental rate. You can also offer a rent discount for the first month of the renewal period.

Persuade Tenants to Sign a Longer Lease

Financial incentives can motivate renters to extend their leases and while you may not be changing your rental rate, turnover costs can be considerable. To avoid this, begin discussing the possibility of a longer lease.

Even if a tenant renews every year, you can suggest that they sign a two-year lease and outline the benefits they’ll receive. For example, if you normally split the fees for cleaning services, you can provide this for free.

Treat All Renters Fairly

Landlords should be aware of the state and local laws to protect the interest of both themselves and their tenants. The Fair Housing Act exists to eliminate discrimination, so be respectful of all your renters no matter who they are.

If you treat renters equally, disagreements are usually kept to a minimum. If some tenants complain over unfair treatment, you’ll risk facing a lawsuit. This can be stressful so it’s best to protect yourself from this situation.

Bottom line

Making your tenants happier is not only doable, but it is also in your best interests as a landlord. When your tenants feel attended to and respected there is more of a chance they will sign longer leases and help protect your property.

Keeping renters happy can be a full-time job. If you’re short on time, you can opt to hire an excellent property management company like us at MN Property Nerds.

Property management companies are equipped to take care of the daily demands of your rental and tenants. In return, you’ll have more freedom and peace of mind.

Contact MN Property Nerds now to help you take care of the most important resource in your rental investment journey, your tenants!