Why is it So Important to Keep Your Tenants Happy?
When your tenants are happy, you will be happy. Happy tenants pay their rent on time without any problems. Also, if your tenants are happy, they will likely choose to live on your property for a long time. This will save you the trouble of finding new renters. If you want to keep your tenants happy, there are a few steps that you can take.
Six Steps to Keeping Your Tenants Happy
Keep Your Tenants Informed: While your tenants may not like some of your rules, it is important that they understand them. If you are both on the same page when it comes to policies, you will have a more trusting relationship and better communication with your tenants.
Repair Problems Quickly: It is a good idea to keep up with the property. Give them a home that they are proud to live in. Not only will a well kept property bring good tenants, it will keep them there. If a tenant calls your because they have a leaky sink or a clogged toilet, you should get to the property right away and fix the problem. When your tenants know that they can count on you to act immediately, they will be happy. Long response times to repair requests will only make them angry, and possibly wanting to move.
Prepare for the Unexpected: It is a good idea to be prepared for events such as a break-in or if the property is damaged. Having the appropriate landlord insurance is the first step. You should also let your tenants know the proper procedure to follow should any unexpected issues arise. This will make them happy that you are putting in the time and effort to keep them safe, as well as the home that they are renting.
Send Friendly Reminders: Everyone falls into financial hardship at one time or another. If your tenant is a few days late on the rent, don’t send them a nasty demand letter right away. You don’t know the reason that the rent is late. They may be laid up in the hospital and cannot get to their checkbook. They could have a financial issue that they are going to have straightened out in a few days. Until you know the reason for the late payment, you don’t want to be nasty. It could lead to you looking like an insensitive landlord. The best thing that you can do is make a courtesy call or send a courtesy text. It will show that you are more concerned about their well being than the rent. This behavior will make them happy to be your tenants.
Keep an Open Door Policy: It is a good idea to let your tenants know that your door is open if they need to voice any problems or concerns. Let them know, however, that this should be done during certain hours. Always remain available at all times in case of an emergency, but for non emergent matters, let them know that they can stop by during office hours for a sit down meeting. If they know that you are willing to meet with them when they need to speak to you, they will see that you care about their thoughts and opinions.
Respond to Communication Quickly: If you get a call or text from a tenant, be sure to answer them in a timely manner. If their calls and texts go unanswered, they will get the feeling that they are not important. If you are going to be out of town or unreachable, let them know ahead of time. Getting back to them in a timely manner will keep them happy.
How Do Landlords Benefit from Happy Tenants
A happy tenant will pay their rent on time and will stay on the property for a long time. The happier your tenants are, the less headaches you will have.