Rental properties can be lucrative investments when you have good, reliable tenants. But what can you do to keep those good tenants? Below are some tips from Zenith Properties to help.
Take Care of the Rental Property
Rental properties should be comfortable and provide pleasant atmospheres. Keep appliances and other fixtures up-to-date. Have regular inspections performed on the plumbing and electrical systems, and schedule regular pest control treatments and carpet cleanings.
Address Maintenance Concerns Promptly
Be proactive about addressing property maintenance issues. Staying on top of your tenant’s maintenance concerns will not only keep them happy, but it will also prevent small issues from turning into larger ones, allowing you to spend less time later on repairs when you eventually turn over the rental property.
You need to let your tenants know that their needs are important so it’s important that you’re accessible to them. Return calls, messages, and emails in a timely manner and consider having an emergency phone number for power problems, water leaks, and other urgent issues.
Stay On Top of Renewals
Like your tenant? Let them know well in advance that you’re interested in renewing their lease. Reach out to your tenants several months in advance to see if they’d be interested in discussing a lease renewal and ask for them to respond 90 days before their lease expires. If they’re thinking of leaving, you can learn what affected their decision so you can make the necessary changes and advertise the rental before they’ve officially moved out.
Encourage Longer Leases
One way to keep a reliable, paying tenant is to encourage longer leases. Although you could lose out on profit from rent increases, consider asking your good tenant to sign a longer lease at a reduced rate. For example, if they renew every 6 months, consider extending their lease to a year. Just make sure to calculate the differences in rental revenue first before committing to this decision.
Treat Tenants Fairly
Be consistent with all of your tenants and treat them fairly, regardless of race, religion, physical disability, or sexual orientation. Also, make sure you’re well-versed in local and federal housing laws.
Before keeping good tenants, you have to know how to find one in the first place which is where screening comes in. Tenant screening will look at a prospective tenant’s credit, criminal background, rental history, eviction history, and it will verify their employment and source of income.
By checking these factors, you have a better chance of finding great tenants who will make your rental property profitable.
Property Management Experts
If you need help with a rental property in Clark County, WA, contact Zenith Properties. We provide a wide range of property management services to keep your investment property lucrative. We can take care of your tenant’s maintenance requests, screen tenants, and market your properties. To learn more about our services visit our website or contact us today!