Long-term tenants are every landlord’s dream. Turnovers are expensive and time-draining. It’s good to practice various methods to keep your tenants loyal. This will allow you to avoid turnovers as much as possible.
This article contains recommendations on creating a more comfortable environment for your tenants. This will encourage them to consider staying in your rental for longer periods of time:
Respect your tenants.
Always remain professional when dealing with your tenants. Nobody likes being treated poorly. You can earn a tenant’s respect by maintaining boundaries and protecting their privacy. Even if you’re the owner of the property, it’s impolite to barge in on a tenant’s rented unit without notice.
Inform your tenant beforehand if you need to conduct an inspection in your Orlando property or enter for any other reason. Respect will create a harmonious relationship between the two of you. This often results in tenants staying long term.
Increase rental security.
Most tenants’ primary concern is the neighborhood’s safety. Before renting, they often check the crime index of the area. If they feel nervous, you can be sure they’re likely to choose a different property.
You can offer tenants with more safety by installing alarm systems and security cameras. Make sure your entrance door is durable and made with heavy wood or metal. Additionally, incorporate deadbolts, peepholes, and chain locks on doors to make tenants feel safer. This often encourages them to rent long-term.
Provide grace periods.
Give prospective tenants a grace period to decide whether or not they want to rent your property. This is a thoughtful gesture that shows you respect their decision-making process. It creates a good start for your business relationship with them.
For a tenant who has rented over a long period of time in your property, grant them a one-time grace period on their rent payment. Ensure that the tenant has a good record of paying rent on time and displays a responsible attitude.
Welcome your tenants.
Moving to a new neighborhood is not always easy. As a landlord, try to make the move easier for your tenant and welcome them to your rental. Be gracious and accommodating. Reassure them that they can reach out to you if necessary.
You may want to show them where the town’s facilities are located so they’ll be able to navigate around more easily. Offer suggestions such as the best things to do near your Orlando property.
Treat all tenants fairly.
Exercise fair treatment equally to all your tenants. If you show particular leniency for the policies to one, then this creates a resentful environment with others. Always treat them with respect and never discriminate. This could lead to tenants ignoring your policies or creating legal issues. Always act professionally so tenants will act in a respectful manner towards you.
Be responsive.
There’s nothing more stressful to tenants than having to make repeated requests over and over again, especially when it involves a maintenance concern. Always listen and respond to your tenants even if their concern is minor. Avoid time delays or slow responses as this could be a reason for them not renewing their lease.
Give renewal bonuses.
It’s good practice to reward long-term tenants or those who renew their lease. You can give a rent discount or avoid raising the rent. This makes your tenants feel valued. As a result, they are likely to stay longer. What’s more, they might even refer their friends and family to you when you have a vacancy.
If they successfully referred another tenant, reward them with a referral fee. They have saved you time and money from having to market and fill a vacant unit.
Maintain your property well.
Maintaining your rental property in Orlando, Florida bodes well for your marketability in the business. When tenants see how you take care of the unit, it may entice them to take care of it as well. Current tenants will be inspired to renew their leases when they see how well-kept the property is. If you’re consistent and hire professionals to handle repairs and renovations, your property will look more attractive than ever.
Be open to pets.
Allowing pets on your Orlando property will boost your pool of prospective tenants. It also encourages them to stay longer since not all properties are open to this idea. As long as you set clear rules on pet ownership so that it won’t be a nuisance to other tenants or result in excessive property damage, then there should be no problems.
Hire a good property manager.
Choose a customer-focused property manager, like Warner Quinlan PM, so your tenants will feel taken care of. There are a number of benefits to having one including their expertise in dealing with tenants. If your Orlando rental is professionally managed, tenants are likely to stay longer.
Bottom line.
Make your property attractive to long-term tenants. Focus on making your tenants more comfortable by maintaining property upkeep. Your efforts in looking after both your tenants and property will pay off in the long run when tenants choose to stay long-term.
