According to the latest statistics shared by the National Centre for Housing Management (NCHM), an average apartment’s turnover rate to new tenants is over 53% per year. Property owners, managers, and landlords might already know how difficult it is to find tenants that pay rent on time, take good care of the property, and behave in a polite and well-mannered way.
When they find the ideal tenant who takes care of the place as if it’s their own, they never want to see them move out. Add this to the loss in rental income as the place lies vacant, and the time, money, and efforts that go into placing adverts for new tenants, screening them, turning the property… phew! It makes more sense to put more effort into retaining existing tenants who you can trust, right? We think so too. Here’s a quick guide with fool-proof and effective ways to convince good tenants to keep renting from you for longer.
Promptly Addressing Maintenance Concerns
Keeping your renters happy is crucial, especially if you want them to extend their lease. Proactive measures for property maintenance coupled with periodic property inspections can help convince your tenants that this is the best rental property they can feel safe and at home in. Show the tenants that you care about their well-being and lifestyle by addressing maintenance requests promptly. Keeping up with the regular issues helps lower the time and money spent on repairs when you are required to turn over the rental unit. It can help keep minor maintenance tasks from turning into larger, costly issues.
Being a Proactive, Responsive, and Helpful Landlord
It’s much simpler to get the renter to renew the lease if they like you and are happy to deal with you in the future. Not answering tenants’ calls, not showing up for important things, not calling them back, and showing reckless and irresponsible behavior can cause the tenant to decide against staying another year. If there’s an issue and you need more time to resolve it, communicate the situation to the renter, and assure them that their request hasn’t been ignored. Offer them support and alternative resources to help them tackle the issue independently. Keep track of the preventive maintenance tasks, such as tree trimming, testing smoke detectors, repairing or changing HVAC filters, and so on.
Improving the Security of Your Rental Property
Enhanced security is an excellent way to attract the best renters to your property. When potential tenants know that you’ve employed robust security features, it will give them the peace of mind they’re looking for, knowing they’re safe. Motion sensor lights, CCTVs, and similar cutting-edge technologies come in handy in such situations.
Offering Renewal Incentives
What if you could increase rent, retain a good tenant, and upgrade your property’s value simultaneously? Try offering tenants a menu of items they can upgrade should they choose to stay. This could include things like adding tiles or flooring to a small area, updating light fixtures, or repainting walls. It helps keep the rental in good shape for longer, saves hefty maintenance requirements, and keeps both the tenant and the landowner happy.
Do you feel you’re struggling to find good tenants for your rental properties? We recommend connecting with experts at Rental Houses Florida. They have a team of professionals who are well-versed in making the entire real estate rental process easier and hassle-free for all parties involved.
If you’re looking for good rental properties or want to rent your properties in Tampa, Florida, New Port Richey, Orlando, and surrounding areas, check out their website to schedule a virtual walkthrough of a wide variety of hot properties today.
Landlords struggle to find good tenants to rent their properties in Florida, Tampa, Orlando, New Port Richey, and surrounding areas. To help solve this problem, we highly recommend Rental Houses Florida, which has made the entire real estate rental process completely hassle-free. Contact them right away to find out more.