The number one priority for people who own rental properties is to keep tenants in their properties. Afterall, if you don’t have tenants … your property isn’t making you any money.
While there are some things out of your control that influence a tenant moving out of your property, there are plenty of things that you can control.
Having a mutually respectful relationship between tenant and landlord or tenant and property manager is vital to ensuring the longevity and renewal of a rental agreement.
While the tenant plays a large role in this relationship, there are key behaviors that a rental property owner and property management company should avoid.
The top reasons are:
1. Constantly Increasing Rent
We all know that there are times when raising the cost of rent is necessary. However, if it is your practice to always include a rent increase with a lease renewal, you might be running the risk of driving good tenants away. Also, if you have long-term tenants who have a solid rental history with you, it might be more cost-effective to skip their rent increase. It might be more expensive to go and find a new tenant than the amount that you will gain by implementing a rent increase.
2. Excessive Noise
Most tenants are just looking for a quiet and safe place to live and raise their family. If the property is burdened by constant noise or domestic disturbances, the good tenants will move away and you will be left with those who are causing the problems. To create a culture and environment where good (and quiet) tenants go to live, make sure to address noise violations immediately. It should be known that disruptive behavior will not be tolerated at your property.
3. Unauthorized Entry
It is illegal to enter a tenant’s residence without prior notification (unless it is an emergency). This is a very important point between tenant and property manager or landlord as it can permanently damage the trust between the two parties. No one wants to come home from work to find their property manager roaming around their house. This is a major trust concern and could not only inspire your tenant to move but, also to share the news with others causing them to refuse to rent from you.
4. Inadequate Maintenance
As a property manager or property owner it is an important part of your responsibility to keep the property property maintained. Not only does this include replying to tenant maintenance concerns but, also to proper maintenance of the property. For instance, making sure that steps and stairwells are well lit and safe, parking lots are cleaned, landscaping is neat and tidy, etc. It is important that when potential tenants drive past your property, they get a good impression of how much you value the property and want to take good care of it.
When you find good tenants – it is important to keep them. It is good for both the tenant and the landlord or property manager to have a mutually respectful relationship. Use these tips and avoid any behavior that might give you a reputation for being a less than desirable landlord. Also, when hiring a property manager, make sure they will professionally represent you by also avoiding these key behaviors.