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Reasons and Ways to hold onto good Tenants

Doing the proper screening can make a huge different in attracting long terms tenants. Since it costs on average more than $4000 to replace a tenant, landlords should do all that they can to keep good tenants.

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Reasons and Ways to hold onto good Tenants

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  1. Reasons and Ways to Hold on to Good Tenants Houserie

  2. Turnover Costs • When a tenant chooses not to renew their lease, it could cost the property owner thousands of dollars • Turnover costs include carpet cleaning, painting, rent lost for days vacant, and more

  3. Clean Up Costs • When a tenant moves out, the property needs to be thoroughly cleaned • Carpets and appliances need to be cleaned or replaced and painting might be needed as well • Small repairs might be necessary

  4. Empty Unit Costs • Loss of rental income • Advertising costs to find a new tenant • Fixed costs such as utilities and taxes will still have to be paid

  5. Neighborhood Stigma • A high tenant turnover rate will have a negative impact on the neighborhood/community • Tenants that have lived in a property a long time are more likely to give a positive review

  6. Good Tenants are Hard to Find • Tenants with a good credit score and background check and who take good care of your property are not easy to find • It’s important to keep them happy when you find them as tenant turnover is expensive

  7. Be Accessible • Tenants are unlikely to renew a lease with an absentee landlord • Respond to all reported issues asap; be honest and don’t delay

  8. Go Above and Beyond • Making your property stand out will help your tenants choose to stay • Providing extra services like parking lot lighting, commercial garbage bins, and extra landscaping and cleaning around the property will be welcoming

  9. Appreciate Your Tenants • Offer discounts for paying in advance or automatic payments and small gifts for special occasions • Be a landlord that is personable and reasonable and keep the lines of communication open

  10. Proper tenant screening will ensure you are getting the best possible tenant!Check us out today: http://www.houserie.com

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