Finding and keeping top-quality tenants is not an easy task for any landlord. These are the landlord's "dream" tenants. The ones that pay their rent on time, follow the rules and are not a "noise complaint" for neighbors. They are the ones that make the landlord's life and job much easier.
However, it's no secret that not every tenant is a "dream" tenant. When a landlord finds these tenants that are among the cream-of-the-crop, keeping them is the next important step.The following are some great tips on how to find good renters for your rental units which in turn helps make the lives of your other tenants and workers much more enjoyable:
- Check income levels so you assure that the renters applying for a unit can afford their rents each month.
- Verify income through the job the person claims to have.
- Reach out to talk to "references" people put on their application to get a feel for the kind of people that will be staying in your unit.
- Do a background check to ensure you are keeping your rental units safe from those who have past crimes (especially felonies) on their records.
- Ensure the units that you are ready to rent out are in good shape and clean so you can allow someone to see the unit soon as they inquire about it.
- Require insurance to be purchased for each rental unit that you are renting out.
- Use a lease agreement to ensure you are protecting yourself from those who may be out to fraud you or break leases before the time is up.
These are some great ways to find quality renters for your building that are likely to cause you fewer headaches than "blindly" accepting tenants without obtaining proper information first.
Once the renters move in, things shift to what you as a landlord need to do to keep good quality tenants in your units long term. The following are some of the things that quality, long-term tenants will look for when they are determining if they wish to stay in your unit longer-term:
Care for the grounds around the rental areas.
Things such as a filthy swimming pool or weed-filled yard will hardly keep tenants wanting to live there long-term. This also doesn't show great intentions as a landlord that you care about where your tenants live and the atmosphere surrounding their home.
Responding in a timely fashion to issues that tenants report.
This unit shows that you care and respect their investment in renting your property. Issues that go unsolved, such as a broken dishwasher or poor internet connection makes the tenant feel like their landlord is being lackadaisical and like their needs are not important enough to address.
Maintaining a schedule of "open" office hours.
This strategy allows tenants to bring concerns or issues to the staff as soon as possible. Having staff on site 5-6 days or more per week allows issues to get addressed in a timely manner when tenants have needs that must be met.
Create a warm, welcoming environment for tenants.
Sending out well-wish cards on birthdays or major holidays is nice and tenants will remember it. Be more than the guy who just "collects the rent" but also ensure that you are not constantly up in your tenants business invading their rights to privacy and living.
Provide discounts for tenants.
A good way to do this is provide a discount to tenants who refer friends or family that end up becoming tenants as well. Periodic "discounts" and "extras" will help tenants know that their business is appreciated and that you care about retaining their business.
These are just a few great ways that you can help get and retain the best possible tenants for your rental buildings. Keeping the tenants fulfilled without interfering in their daily lives is key to retaining their residency long-term.
For more information on how to keep your best tenants happy, contact us today!