Ideas for Landlords on How To Keep Good Tenants

Retaining good tenants is a key part in successful residential property management! The only thing better than a good tenant, is a good tenant who’s there for the long term! In some ways, keeping good tenants can be harder than finding those tenants in the first place. As any good property manager and landlord knows, having good, long term tenants is not only important for regular rental income, but it also cuts back on your time and paperwork.

There are many different things you can do to keep these people. Here are a few tried and true suggestions for you to consider:

Go the Extra Mile.  A tenant is like a customer, so make some effort to keep them happy. Have a welcome basket waiting for new tenants to ease the stress on moving day. This starts things off on the right foot. Send a card at Christmas to thank them for being your tenant and to wish them well. It takes little effort but lets them know they’re appreciated and respected.

Be Clear on What You Expect From Tenants. Give them a list of rules and regulations that apply to living on the property in terms that apply to their wellbeing. It should include everything from parking and noise expectations, to leaving laundry in the washer or dryer and how garbage is to be dealt with. It’s easier to be a good tenant if you get some guidance.

Open Communication is critical. Never ignore calls, texts, or emails from tenants. If you can’t answer immediately, return those communications as soon as possible. If you don’t agree with their requests, talk the issue through and try to reach a compromise. When you’re around your tenants, be friendly and approachable.

Take Care of Problems Quickly. Fix that sticking window or loose tile as soon as you can. It may seem minor to you, but it’s a daily irritation to a tenant who lives with it. If it’s not something you’d fix yourself, send a contractor. If you need to order parts, or if it’ll take extra time, tell the tenants so they know their concerns are not being ignored.

Keep Your Property Maintained. Clean the hallways, stairways, and elevators regularly. Trim those hedges and cut that lawn every month. Visit the property regularly to check for any things that need fixing or repairing and take care of them – don’t wait until they’re brought to your attention. A well-maintained property is a nice place to come home to.  

Use Quality Appliances, Fixtures & Fittings. It not only gives the property a feeling of value and worth, it makes tenants feel that they’re getting their money’s worth. Using quality materials also means less repair and maintenance, so less annoyance for tenants, and less work for you. Also, if tenants feel proud of where they live, they’re bound to stay.

Get Rid of Bad Tenants. This is the dark side of residential property management. If they’re irritating to you when they don’t come up with the rent, or give you attitude, just think how much worse it is to have to live near them! If they fail to pay rent, indulge in illegal activities, constantly ignore noise restrictions, or cause damage to your property, you have every right to take action. If they don’t leave, in many cases, the good tenants will.

Consider a Tenant Retention Plan. What would you give to have a good tenant sign another lease - or after 3 years or 5 years, or even 10 years as a tenant? Consider offering things that enhance their ‘home’ space: a maid service for 2-3 hours, a professional carpet cleaning, refreshing a room by painting an accent wall in an acceptable color. Let them know that long-term tenants are valued.

Tenants who feel valued and appreciated, usually stay longer. The way to make this happen is by hiring the right property manager. A good property manager is actively involved in all aspects of a maintaining a property and a major part of that is tenant satisfaction. The most costly part for any real estate property management is constant turnover – or, heaven forbid! – empty rental units. In the long run, it takes less time, effort, and money to keep the tenants you have happy, than it would to be constantly looking for new tenants. So take a few suggestions and make some positive changes!