Tips for landlords: How to always have happy tenants
Landlords run the risk of losing tenants every day that they rent their property; many landlords are stuck with looking for new tenants, repairing damages and cleaning the unit. This is not only an expensive inconvenience but can also take up a lot of your time. The tips below will help you minimize the risk of losing tenants and decrease the cost of having to replace them. Here are tips on how to keep your tenants happy.
Have the right mattress size
The beds in your units should fit the size of your tenants. If they can’t get comfortable, then they won’t be happy. When you are considering what mattress to buy, keep in mind that this is where your tenant will spend 1/3 of their life so it has to be perfect for them. You can measure mattress size by covering a bed with box springs and then measuring the overall size. Or you can use a tape measure to measure the length and width of each side of the bed. This same measurement will come in handy when purchasing bed covers, sheets or comforters.
Keep furniture clean
It’s not difficult to keep your furniture clean. You can use a fabric cleaner for the couch, chairs and loveseat cushions. To make the fabric last longer, you should vacuum it once a week. Additionally, you can also dust frequently with a damp cloth. This should be done at least every other day since dust accumulates very quickly especially in areas with high traffic like the kitchen or family room.
Be consistent with utilities
The best way to ensure that your tenants are happy is by minimizing their monthly bills. This could be accomplished by only renting the rooms and not the entire apartment or house. It will also help by having central heating and cooling installed during construction so you don’t have any further expenses there later on down the line; however, keep in mind that if someone prefers heating instead of cooling then you will need to accommodate them as well (for a small fee).
One thing that tenants hate is when they pay for their utilities and then the next month their bill has gone up drastically due to additional charges than what was agreed upon when they first rented your unit. Make sure to settle any disagreements over utility bills by consulting legal advice. You should communicate clearly what is included in the rent to avoid getting unexpected bills.
Use the correct appliances
The appliances in your units should fit what you are charging for rent. If you have an industrial washer and dryer, but charge $800/month, don’t be surprised if they leave because of it. Remember that these things aren’t under warranty anymore so the cost of repairs is all on you. Therefore, use appliances that keep maintenance costs low such as stainless steel microwaves and refrigerators since they can easily last 15 years without any major problems. Also, don’t go cheap on the dishwasher; good dishwashers will cost no more than $200 and will save you money in repairs and replacement by not breaking
Consider allowing pets
If you don’t allow pets now, then maybe you should think about it. If your current tenants have a pet and are happy with the rental agreement that includes their pet, then they might pay more to keep them there. However, make sure to follow the landlord-tenant laws in your state regarding pets (i.e.: having breed restrictions). That way, even if someone else decides to sue you for not allowing an animal no matter what size or breed it is; at least, you will be covered under the law since you strictly followed the rules set out by your city or state.
Allow for one month security deposit
Ensure that the one-month security deposit isn’t going to break anyone’s bank account either by ensuring that you accept almost any kind of credit card or offering Electronic Funds Transfer which is free if done online through your financial institution. The key here is convenience so do whatever will keep your tenant happy and reduce their likelihood of moving out.
Install a pool
Having a pool installed at your place will be another great way to attract tenants. You can charge an additional fee for those who wish to use the pool as well as decline any liability if it should happen that someone gets hurt while using the pool. Furthermore, you could also require renters insurance if they have a pet or child since this is mandatory in almost all apartment communities.
Make the place soundproof
If you want to charge higher rent rates, consider making sure your unit is soundproofed so a tenant won’t feel bad about asking their neighbour nicely to keep the noise level down after 10 pm. Sometimes, people can get loud, especially college students and young professionals just starting out with their careers; however, teenagers typically stay up until midnight or 1 am.
Therefore, even if you don’t want to soundproof the place, make sure you request that your tenants keep the noise level down after the given time since it will help ensure that you have happier tenants who are willing to stay longer instead of moving out within a year or less.
Offer free parking
Offering free parking is a great way to attract tenants and even charge an additional fee if they want to park in a space with extra lighting or one that’s covered. Even though this doesn’t make the apartment any more valuable, it does help increase its value by offering convenience features.
Add security cameras
To make your tenants feel safe and happy, offer security cameras. Make sure they’re placed in the right locations such as near the front and back door, down hallways and near elevators or stairs.
Offer 24/7 laundry facilities
Another great tip is to offer 24/7 laundry facilities. If you make sure they are clean and safe, then your tenants will be more likely to stay long-term instead of constantly looking for new places after 6 months because their old apartment’s laundry room was constantly closed. Furthermore, if you charge for this specific facility; then, you will get extra income that can be put towards future renovations or up keeping the entire building.
Offer secure mail delivery
Keeping true with convenience features like free parking and 24/7 laundry facilities; having secure mail delivery is another way to increase satisfaction levels among your current tenants let alone any new ones who are moving in within the next few years. Even though you might have to pay a small fee per month for this, it is definitely worth the price since you will see a positive impact on retention.
Offer a fitness center
If you want to attract young professionals, consider having a fitness centre in your building which not only provides great exercise equipment; but, also gives them an opportunity to meet new people while working out. Plus, if they’re happy with staying in shape while living there then they are less likely to move out within 6 months or less like some other tenants do before even settling into their new place.
In conclusion, offering all or some of these convenience features will help you attract more tenants and increase your turnover rate since your current tenants will be happier staying in place longer. When they’re happy, then, the chances of them recommending your building to their friends and family just got a lot better.