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How To Have Happy Tenants 

As all landlords know, when your rental unit becomes vacant it can be both costly and time-consuming to find a new tenant. Keeping your current tenants happy is a great business strategy to maximize your profits. Read some tips on how to keep your tenants happy and less likely to move out.

As all landlords know, when your rental unit becomes vacant it can be both costly and time-consuming to find a new tenant. The best way to reduce your vacancy rate is to create a positive relationship with your tenant so that they would be happy to live in your unit as long as possible. There are various things that a landlord can do to entice a tenant to stay. It may take a small attitude adjustment, but in the long run it can be worth your effort, both financially and personally.

Since the tenants are paying you for the privilege of making your mortgage payment, keeping an eye on your investment, cutting the grass and shoveling the snow, or maybe even keeping the home clean and warm, it would be wise to try and keep them content.

• View your tenants as your customers, or clients. If a store or other customer-oriented business were to offer poor service and shoddy workmanship and treat the customers as though they were a pain in the neck, they would have a hard time staying afloat. The same holds true in a landlord/tenant relationship.

• Consider offering small incentives or rewards. A birthday card, a Christmas gift basket, an occasional thank you card, or even a gift card occasionally can go a long way to keep a tenant happy. These things don’t cost much, but tenants like to know that they’re appreciated.

• Do regular inspections of the rental unit. Allow tenants to show you the areas that need maintenance or repair. Of course, tenants are responsible for their own damage, but things do wear out over time and no one likes to live in a house or suite with dripping faucets or electrical outlets that don’t work.

Treating your tenant/clients with respect and appreciation will mean fewer vacancies, headaches and hassles, and who knows…maybe when your tenant decides it’s time to leave they will have a friend or colleague that would be happy to move in.