5 WAYS TO KEEP YOUR TENANTS HAPPY
As a landlord it’s important to understand how to keep your tenants happy for many reasons; these can be purely for ethical/caring reasons but also for financial reasons. A happy tenant will be less likely to move and keep tenancy changeovers at a minimum, therefore avoiding void periods and re-let fees.
We have identified the following most important ways of to achieve happy tenants:
1. Respond quickly to repairs. Whether you manage the property yourself or whether you agent manages it for you, you/they need to arrange for repair work promptly. You/they need to have good, reliable contractors available to respond quickly and also available out of hours to in case of an emergency. If you use an agent because you are not local or contactable all the time then agree a works limit with the agent so they can act quickly if needed.
2. If you are happy to let long term then let long term! Fair enough- if you like an initial 6 month tenancy to see how it goes then fine- but if you are happy then offer a tenancy/renewal for long periods if that's what the tenants want. Tenancies can be for longer than 12 months and most tenants prefer the security of a longer tenancy term. Periodic tenancies offer flexibility but they also offer the tenants the ability to serve 1 month notice which means you don't get a huge amount of remarketing time and also they mean you can give the tenants 2 months notice to vacate which doesn't offer security.
3. Don't wait until time between tenancies to do necessary upgrade work. Why wait for your good tenant to leave because the bathroom needs upgrading- they will probably stay if you do the work whilst they are there and the rent being paid will help towards the works.
4. Effective communication- there is nothing worse than tenants reporting faults or asking a question and them not hearing back for days/weeks. Even if you don't have the answer yet then just communicate with them that you haven't forgotten them and that you are looking into it. If you haven't got time to offer effective communication then use an agent to manage the property for you.
5. Provide the right tools- leave instruction manuals for appliances and the boiler- this will not only help the tenant but also hopefully mean you will get less call outs because they may be able to solve the problem themselves. The same applies if you want the tenants to keep the garden well- supply a lawnmower and gardening tools to encourage this.
If you would like to discuss rental property or portfolio then please contact
firstname.lastname@example.org or call 0121 445 7410.