Avoid Losing Good Tenants With These 5 Expert Tips

Posted by Axford Real Estate and Property Management Group on December 9th, 2020

It’s much easier to hold on to existing tenants rather than keep on finding new ones. It reduces your vacancy rates and ensures maximum profits. Furthermore, it also minimizes the headaches of finding new tenants to live in your property.

You can reduce the chances of losing tenants with these tips:

1. Offer your tenants longer lease terms.

Many renters dread short lease terms because this gives the rental property owners more power to increase the rental price. But with a longer lease term, they might feel more at ease and sign up to lease your property. This can entice renters to choose your property.

2. Create a good relationship with your tenants.

Make their stay in your rental property a happy and content experience. Your renters will want to stay longer if you establish a good relationship with them and if they feel like their landlord also cares about them.

You don’t need to do a lot of big things. Even small things like having a welcome package ready for them when they move in already can already make a big impression. From time to time, ask them for feedback about the property and find out if there’s anything you can do to improve it.

Make sure you don’t forget routine maintenance. If you don’t have time to do it yourself, there are professionals who can do property management in Port Moody.

3. Make sure you have good lease terms and agreement.

Check the lease terms and agreement and make sure it does not violate tenant rights. You can consult experts in Property management in Port Moody such as Axford Real Estate & Property Management Group to find out what you can and can’t include in the lease terms and agreement.

4. Respect your tenant’s privacy.

It’s your rental property but you shouldn’t invade their privacy and come and go whenever you want. You can still be guilty of trespassing. As long as there’s nothing wrong with the property and they are not violating laws, it’s important to respect your tenant’s privacy.

5. Talk about lease renewals early.

As the lease term ends, make sure you start talking about lease renewals with the tenant. The tenants might not want to approach the subject with you because they might have apprehensions about it. It’s up to you to put them at ease and let them know that you still want them to stay.

These are the things that you should do if you want your tenants to stay longer. With the help of experts in property management in Port Moody such as Axford Real Estate & Property Management Group, you can also make sure that the property and your tenants will be handled well.

Jason Harris is the author of this article. For more details about Property Management Burnaby please visit our website: axfordpropertymanagement.com