27^th September 2019

Replacing bad tenants can be costly, while having to replace tenants on a regular basis can amount to even more, with letting fees and void periods adding up every year. Once you have a good tenant who looks after your property and pays their rent regularly, it’s worth going the extra mile to keep them happy.

Here are five tips that will encourage your good tenants to stay.

1. Clearly outline expectations

Start as you mean to go on. Set out your expectations at the start of the tenancy. From maintaining the garden to not allowing pets – be clear. Provide your good tenants with all the information they need on how the property works too, such as the bin collections dates and how the boiler works. Ask your tenants if they have any questions and provide them with your contact information (or your managing agents) should any questions or issues arise.

2. Address problems quickly

You value your reliable tenants so be responsive to them. Show them that you respect them by replying as quickly as possible to their or your managing agent’s email, text or phone call. Even if you cannot reply or resolve their issue immediately, call, text or email back and assure them that you will get back to them as soon as possible.

3. Update furnishings

There comes a point when walls need re-painting and well-worn carpets need re-placing, not to mention those times when washing machines and boilers need fixing or replacing. When this happens, it’s typically more cost-effective to refurbish and replace items than it is to lose your reliable tenants. What’s more, your tenants are far more likely to value and look after your property if you do.

4. Offer renewal incentives

From offering to keep the rent the same for another year to redecorating the property, there’s nothing like providing incentives to hold on to your reliable tenants. By offering incentives to renew and stay, you can avoid letting fees and void periods. Incentives to stay make sound financial sense.

5. Appoint a good managing agent

Even if you live close to your rental property, you may not always be able to respond quickly to unexpected situations or problems. It’s worth appointing a managing agent to take the hassle out of renting your property out as they can act as a useful “buffer” between you and your tenant. That way, you can have peace of mind that someone is always keeping on top of any maintenance issues, even out of hours,as soon as they arise, and the tenant will always have a point of contact.

 

Contact our Letting team to discuss your rental property and find out more about the services we provide.