Respecting And Caring For Tenants Helps Keep Them Happy – In Your Rentals

Posted by Alan Zunec on Saturday, April 6th, 2013 at 3:50pm.

You’ve taken the plunge and invested in some rental real estate. You have good tenants that don’t drive you nuts and provide a decent cash flow. So how do you hang on to these sometimes hard to find people, the ones that are making your job a whole lot easier?  Help reduce your tenant turnover with these suggestions.

Make Rent Paying Easier

In this busy world it’s easy to forget to put that rent check in the mail or drop by the rental office. Perhaps your tenant has to travel for his employment and isn’t always around at the first of the month. Making rent paying easier can ease the stress levels for you and your tenant. One way is to take post-dated cheques, then just deposit them when due. Another popular option is to use direct debit or e-transfer for rent payments. Even if your tenant is out of the country, chances are he’ll be able to log on and take care of business.

Don’t Stay in the Shadows

Most tenants like to know that you’re around if needed, and are unlikely to renew leases if the landlord is of the absentee variety. You don’t want to invade privacy of course, but neither do you want to ignore your tenants. A cheerful “good morning” once in a while can do wonders.

If your tenants have issues, respond to them ASAP. The rule of thumb is to at least give a response within an hour. Taking care of leaks and other problems can help your bottom line as well since small problems can develop into bigger ones. Also, if you are unresponsive, the next time that “little leak” happens you tenant may decide not to tell you, figuring you don’t really care.

The Power of Positive Curb Appeal

Give your property great curb appeal and keep the grounds and buildings well maintained. Coming home to a nicely landscaped condo or apartment building is a pleasant experience that tenants appreciate. As long as they feel welcome, tenants are more likely to stay.

The Little Things Count

We already discussed that friendly “good morning.” Other kind gestures you could offer include discounts for tenants that give you post-dated cheques or remembering their birthday or holidays with a card or even a gift card. Check in with your tenants once in a while to see how things are going. Some people need a bit of coaxing to bring minor problems to your attention and this may bring them out. Like any other business, communication and the personal touch are important keys for success.

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