It is indeed important to seek out tenants so that you can earn monthly rent income. However, it is also not less important to make your current tenants feel satisfied and renew their lease for another year. Thus, you can reduce vacancies effectively. Filing vacancies is one of the most difficult aspects when it comes to owning rental property. If you can make your property stay occupied longer, you don’t have to run around seeking out new tenants. One of the best ways to make your tenants stay occupying your property is by treating them like a real customer instead of number. It also means you need to do something that will make them happier. When tenants are happy and satisfy with their current living arrangement, they will have less interest to move out.
How to make your tenants stay happy and occupy your rental property
It is the most basic requirement to take care of your property. Taking care of your property is also one of the most effective efforts to make your tenants happy. Every tenant wants to live in well-maintained property. Thus, you need to everything to make your rental property comfortable to live in. Here are tips to make your tenants happy so you can reduce vacancies effectively:
- First, you need to handle any issue immediately. Procrastination will only lead to dissatisfaction from your tenants. You may think that a broken dryer is not a big deal that you can handle it later when you have time. However, it can cause major inconvenience for your tenants. If you take quicker action to deal with it, your tenant will appreciate more. It will also raise their awareness to take care of the property just like you do.
- Aside from taking care of physical items on your property, it is also important to take care of other things such as seasonal maintenance. This will help prolonging the life of your property. It is also advantageous to prevent you from spending extra money in the long run. Thus, you can save up for another investment you may be interested in for the future. Seasonal maintenance also beneficial for your tenants since it helps them to save their money. With seasonal maintenance, you have efficient property which means can reduce electric and heating bills.
- Make sure to not invade your tenant’s privacy no matter how good your intention is. If you need to check inside of the property, you need to make advance notice for your tenants. This way, they will feel more appreciated and respected.
- You can also try reward system. For example, you will give a $25 gift card for tenants that pay their incentive on time. This simple program will make things work differently. A small reward will make your tenants interested more in paying. This idea may be out of the box but it is worth a try. Even a small reward will make your tenants feels more worth it for the effort they make to pay on time.
