No matter what real estate market you are in, retaining good tenants can be hard. How can property managers focus on finding ways to retain good tenants? Here are some tips you need to follow to make your rental property into the successful investment you need!

Maintenance and Correct Management

Tenants deserve a nice place to live. If the property is worn down and starting to increase the risk of health and safety concerns, you won’t keep tenants for long. Proper maintenance and effective management of the property will increase tenant satisfaction, thereby keeping them as your paying tenant.

Proactive and Responsive

One of the most frustrating things for a landlord is a tenant that pays late. Why do tenants pay late? Sometimes it is due to financial hardships, but other times tenants may pay late as a retaliation against the landlord. If they have reported a problem with the property, and it is not fixed, they often withhold rent. While this is not the best practice or legal method to go about getting the attention of a landlord, it is often necessary when a landlord is not responsive. It is vital to communicate with the tenants. Landlords need to perform drive-by inspections and routine inspections to make sure they are doing all they can to keep the property in good condition.

If a tenant makes a request for a new appliance, or repair, respond quickly. Ignoring messages and emails will upset a tenant, leaving them with the option to start looking for a new place to live. A good, well-paying tenant is not one you want to lose!

Incentives and Renewal Upgrades

Tenants that choose to stay for years deserve to be rewarded for their loyalty. Renewal upgrades and incentives are a great way to excite tenants. Some things you could offer include:

• New lighting fixtures
• New flooring
• Updated exterior
• New appliances
• Repainting walls

Small changes to the property can renew their excitement to live there and makes them feel that the landlord truly does care about their overall well-being. Good tenants are hard to find, so it pays to reward them how you can with good incentives.

Clear Contract and Enforcement

A tenant must know what they are signing when they agree to the lease. Landlords must have a clear contract in writing for the tenants. When you start dealing with the paperwork that goes into tenant management, it’s no wonder why so many people opt to hire a property management company.

Keyrenter Property Management in Hampton Roads provides fair, effective, and experienced property management services. Contact our office to learn how our talented staff can aid in improving tenant retention and improving your bottom line.

Prevention is the best approach to rental property maintenance. Finding and repairing small problems in the beginning can prevent exceedingly expensive costs from occurring. Taking preventative steps can not only help protect your property, but it can also significantly increase the property’s value.

When you have a tenant living on your property, you might want to cut back on the maintenance visits. However, there are several preventative home maintenance steps that you should not skip.

Clean Lint Screens

Allowing lint to build up in your dryer is one of the leading causes of house fires. Not only can this be devastating to your property, but it can also be dangerous for the people who reside there. The dryer’s lint screens must be cleaned out regularly to prevent this from occurring.

Service the Septic System

Toilet emergencies can be extremely damaging, not to mention disgusting. The septic system should be serviced every 5 years. This can prevent many issues from occurring with your plumbing system.

HVAC Maintenance

HVAC filters should be changed every 6-12 months. It is much more effective to completely replace the filters than to clean them regularly. Luckily, filters are fairly inexpensive and replacing them regularly will increase the air quality, lower energy costs, and can help extend the life of your HVAC system.

Gutter Maintenance

Gutter maintenance is extremely important. Though they may seem simple, gutters are the main line of defense against water damage to the foundation of your home. Gutters redirect water runoff to a safe place for your property. Gutters must be cleaned regularly to prevent buildup. Gutters must be inspected regularly to ensure that they are still in good repair.

Prevention is vital in protecting your property from extensive damage. Regular maintenance will help lower the overall repair costs your property will require. To learn more about how to maximize your profits, contact us at Keyrenter in Hampton Roads today!