Being a landlord is a challenging job. Searching for reliable tenants is one of the toughest jobs for a landlord. Finding good tenants, who pay rent on time and take good care of the property is a dream come true for landlords.
So if you have found one, here are some guidelines on how to keep your tenants happy to make sure they stay longer.
Screening prospective renters and shortlisting the best one is only half the job done. Your major challenge will be to ensure that they stay in your house for a long time and renew their lease when the time comes.
To ensure that the renters stay put in the property for the long term, you have to build a good rapport with them.
Building a good relationship with the tenants guarantees you peace of mind and allows you to earn well from your investment. If you are a new landlord and wondering how to improve your relationship with the tenets, here are some tips on making your tenants happy.
How to treat tenants? How do I keep my tenants happy?
Ensure your property feels warm and welcoming
Make sure that your rental property is well furnished and aesthetic. The house should be warm and welcoming to the tenets.
Keep in mind that the tenants will call it home, though they are renting it. Small changes that add to the aesthetics or comfort can have a significant impact on the tenants and motivate them to renew the contract.
Small gestures such as including a welcome gift, arranging some house plants, providing additional storage, or ensuring that everything in the house is spic and span will be noticed by the tenants and will help in creating a professional image.
Maintain clear communication
Like in any other relationship, communication plays a critical role in the tenant-landlord relationship. To develop a good rapport with your tenant, it is crucial to maintain clear communication right from the beginning.
The tenancy agreement should clearly state your expectations from the tenant. For example, you should specify details such as the pet policy, maintenance terms, number of people allowed in the house, etc. in the agreement.
The agreement should also contain details about what the tenants should expect from you. The terms of the agreement should be crisp and clear and must be easy to understand.
Any specific exemptions and clauses must be clearly explained to eliminate doubts and avoid problems down the line.
Resolve issues related to property maintenance quickly
Renting a property to earn an income is like doing business. Like in any other business, customer care plays a crucial role in your bottom lines. Your tenant is your customer and you have to take action to resolve issues related to property maintenance to develop a good relationship with them.
When the tenant approaches you with a request for repairs or property maintenance, respond to them within a reasonable time, depending on the urgency of the matter.
On average, you should respond to the tenants within a week of receiving the complaint.
Dragging maintenance issues for a longer period of time can cause inconvenience to the tenants and may force them to leave the property.
Moreover, pending maintenance and repairs can damage the property and cause serious harm.
Visit the property regularly but respect the tenant’s privacy
One of the significant aspects to keep your tenants happy is to respect their privacy. Even though the property belongs to you, never barge in unannounced.
You have to be respectful and organized when making a visit to the property. Make sure to inform the renters in advance about your plants to visit.
If you plan to inspect the property regularly, make sure to mention it in the tenancy/lease agreement.
It is recommended that you visit the property once in six months to interact with the clients and keep yourself updated with maintenance-related matters.
Regular visits to the property will help you to identify any repairs and maintenance issues well in advance and take steps to address them before they become serious.
You can keep the tenants happy as well as ensure your peace of mind by addressing issues before they are aggravated.
Be considerate when revising the rent
While it can be tempting to raise the rent by the maximum permissible amount, it can have a negative impact on your returns. If you raise rent substantially, the tenants may leave the house, leaving you with a vacant property and high turnover costs.
If your tenants are reliable and you wish to retain them for the long-term, it is advisable to offer them a slightly lower rent than the prevailing market rate.
You must also be considerate about the tenant’s economic condition before raising the rent substantially.
To avoid conflict, the tenancy agreement must include details about the increase in the rental price during the next renewal.
Be kind
Being kind and respectful to the tenants is a great way to earn their loyalty and goodwill. Be kind to your tenants especially when they are going through difficult times.
Always give a grace time for rent payment, if the reason for the delay is genuine. Take the tenants into confidence and discuss the matter before levying late charges and fines.
Reward good tenants to earn their loyalty
If your renters are exceptionally good, appreciate them by giving small rewards.
You can give them a card with a personal note on special occasions such as Christmas, Thanksgiving, New year, etc., give them gifts on their special days such as birthdays, anniversaries, etc., or a small discount on the rental hike.
How to reward good tenants?
If you are a new landlord and searching for different ways to reward your reliable and responsible tenants, here are some simple ways to reward good tenants.
- Give them gift cards
- Gift baskets with snacks or other treats for festive occasions
- Give potted plants or flower arrangements on their special days
- Rental deductions and bonuses
- Replace old appliances, floorings or furnishings
- Provide timely maintenance and renovations
- Hire a professional cleaning company to deep clean the property
These gestures can go a long way in developing good relationships with the tenant. Appreciating tenants for their good work will help you to win their loyalty and earn respect.
Providing a warm and welcoming home, being professional, maintaining clear communication, and addressing maintenance issues promptly are some ways to keep your tenants happy.
However, there may be certain circumstances that can strain the tenant-landlord relationship.
If you have encountered these issues and your tenant is unhappy, here are some tips on how to deal with an unhappy tenant.
How to deal with an unhappy tenant?
Dealing with unhappy tenants is troublesome for landlords. Though each tenant is different and so are their complaints, here are some common types of tenant complaints.
What makes tenants unhappy?
- Repairs
- Problems with neighbors
- Noisy neighbors
- Pest problems
- Cleanliness and other maintenance issues
Tips to deal with unhappy tenants
There is no one size fits all approach when dealing with unhappy tenants. However, here are some tips to help you resolve tenant complaints and make them happy.
1. Listen to their complaints patiently:
Before judging the tenants, listen to their grievances patiently. Being respectful to the tenant and understanding their problem will portray a professional image and help to calm them down.
Pay close attention to what the tenant is saying and ask questions to clarify things you don’t understand. This will help you to get a grip on the actual problem and make it easy to resolve the complaint.
2. Be available when they need you:
Be accessible to the tenants when they try to reach out to you. Set business timings, when the tenants can contact you during the regular days. Also, have a contingency plan to reach out to you in emergencies.
Being inaccessible can lead to frustration in tenants, which in turn, will make them consider moving out of your property. Include the means to reach out to you in the tenancy agreement to avoid confusion.
3. Explain the solution:
When the tenants approach you with a problem, listen to them with empathy and explain how you are going to solve the issue. Always keep them updated about the progress of work and how long it will take to address the problem.
Never make promises that you cannot fulfill. Discuss the various options available openly with the tenant and seek their feedback on the issue. When you involve them in the decision-making process, they are more likely to be patient while the problem is being addressed.
4. Open and clear communication:
Lack of communication is one of the key causes of conflict between landlords and tenants. To keep your tenants happy always ensure that you have open and clear communication.
There are many reasons that can inconvenience the tenants and make them unhappy.
However, it is important to have open and clear communication with the tenants to ensure there are no misunderstandings.
Be empathetic to their problems and take swift action to resolve the issue to develop a good relationship with your renters and avoid frequent void periods for your property.