As a landlord, good tenants are money in your pocket.
You should do everything you can to encourage your best tenants to renew their lease. What can you do to impress your tenants?
Keep reading for our top tips for getting lease renewals from good tenants.
Be a Good Landlord
While this might seem obvious, it's one of the most important factors for tenants and one you have complete control over.
While you might not be able to control whether your tenants need to relocate for career or personal reasons, you can control whether they leave because they are unhappy. Even if you have to raise the rent on a good tenant, how you treat them during their stay can offset this.
Small things like being friendly and cooperative with tenants add up. Do everything you can to respond quickly to tenants and make it easy for them to contact you with any concerns.
While it's important to enforce the rules of your lease, you don't want to go overboard. Being reasonable with tenants and treating them like humans is one of the best ways to encourage lease renewals.
Fix Maintenance Problems Quickly
One of the biggest complaints tenants have is unaddressed maintenance concerns.
Remember that your property is serving as your tenant's home. They should feel comfortable and their needs should be met. Quickly addressing maintenance service requests and generally keeping the unit in good shape will encourage tenants to new their lease.
Regularly performing inspections can alert you to problems that tenants haven't reported. Do your best to make repairs without inconveniencing your tenant. For example, if you can, do repairs while they are at work.
Be Proactive With Lease Renewals
One of the best tips for keeping good tenants is being proactive with lease renews.
Learning how to bring up the lease may take some practice but being proactive and reaching out to tenants to tell them that you want to keep them as a tenant will go a long way. You should make it easy to stay for your tenants.
You may have to offer some incentives to your tenants if you want them to stay, but the cost will be more than worth it in the long run. Incentives might include reducing or waiving a rent increase or offering a longer lease at a reduced rate.
We Can Help You Get Lease Renewals
Whether or not your tenants choose to renew their lease comes down to their experience living at your property.
How you manage your property and handle tenant concerns on a daily basis will determine whether they choose to stay or move on. We offer property management services that focus on building a good rapport with tenants and encouraging lease renewals.
Click here to contact us today and learn more about how we can help you keep your good tenants.