Reasons and Ways to hold onto good Tenants

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Category: Others/ Misc
     
 

Presentation Description

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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Presentation Transcript

Reasons and Ways to Hold on to Good Tenants: 

Reasons and Ways to Hold on to Good Tenants Houserie

Turnover Costs: 

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

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 Clean Up Costs

Empty Unit Costs: 

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

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 Neighborhood Stigma

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 Good Tenants are Hard to Find

Be Accessible: 

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

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 Go Above and Beyond

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 Appreciate Your Tenants

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

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