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Tuesday, April 09, 2013

Landlords: How to Keep Your Tenants Happy

Being a landlord is far from a stress-free job. Among other things, there are legal obligations to meet, tenants to find and the maintenance of the property to consider.
Once you have successfully attracted a tenant to your property, however, there are a few little tips that can help to ensure that your tenants remain happy and consequently stay in your property for an extended period of time.

Be open and honest from the outset

While the rules, regulations and behaviour that you expect from your tenants will all be laid out in the lease agreement, it’s best to sit down and talk these points through with them before they move in.

Take the time to explain the rules to your tenants as this ensures clarity between you and them, reducing the likelihood of issues developing further down the line.

Communicate and solve problems early

Communication is the key when it comes to being a landlord and gaining a reputation as a communicative landlord is a sure fire way to keep your tenants happy.

Even if you are using a letting agency, make a point of giving your mobile number to your tenants in case of emergencies. Don’t be afraid to cut out the letting agent middle man in order to get things done quickly. If your tenants feel like you care and want to be helpful, they are more likely to treat your property with respect and stay longer.

Maintain a high quality finish

Before letting your property, it’s important to ensure that you apply a high quality finish throughout the house. This sets the tone for prospective tenants in terms of the standard of upkeep that you expect. A clean finish and the utilisation of nice little extras, such as fitting an integrated dishwasher, demonstrate to your tenants that you have high standards and expect them to mirror this. Tenants that are worth keeping happy will recognise this and act accordingly.

While it is important to establish a high quality finish before letting your property, it is also imperative to keep up these standards. You can’t expect your tenants to upkeep the highest standards if you don’t so yourself. Don’t let the property fall into disrepair and be quick to fix any issues that arise, technical, cosmetic, structural or otherwise.

Be flexible

Happy tenants appreciate flexibility. While the ideal scenario is for your tenants to pay their rent on the first of the month, this may not be the date that they get paid. If your tenants are worth keeping, don’t be afraid to be a little flexible on when the rent is due – they’re sure to appreciate it.

The same is true in situations where a rental payment is missed. If unforeseen circumstances lead to a missed rental payment, take the time to discuss the issue first, rather than getting angry and evicting your tenants.
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