Landlord Secrets To Keeping Your Tenants Happy
- Date: 2007-06-22 - Word Count: 582
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Do you have dreams of being a multi-millionaire owning property all over world? Keep those dreams. There is no reason why you couldn't be even if you only own one rental property for now. That doesn't mean you can't make that one the best it can be and have the happiest and most loyal tenants possible. Hey, even Donald Trump started somewhere small.
One step of being a successful landlord is finding the time to choose the best tenants for the apartment and to keep up with the maintenance of it. Here are a few bits of advice to help you gain potential tenants and keep the ones you already have happy. Although you rental situation need some different ideas than what I have listed below, these should get you started to a profitable and stress free rental property.
Let's keep it clean - No one wants to live in a dump and that's what you'll be trying to rent out if you don't keep the apartment clean. If the rooms are filthy or unkempt, it will give off a bad impression of your property and of you.
The devil is in the details - This is an important one. Go over the lease with tenants in excruciating detail. The last thing you want is any "surprises" a few months down the road. Take a walk through the apartment with the potential tenants before they move in. This way you and they are on the same page with everything.
Finish up repairs in time - One of the most common complaints you'll hear from tenants is the difficulty in getting something repaired or finding the maintenance man. Invest some time and money keep your rental properties operating in top condition.
A little sprucing up will do the trick - In addition to keeping your buildings clean, you will have to paint and maintain the exterior of them. If the outside of the building looks beat and rundown, nobody will want to see what the inside looks like let alone live there. Do some landscaping. It is more important than you might think in attracting and keeping tenants.
Do your homework on other prices - Does it seem like you are losing a lot of your tenants lately? Maybe you're charging too much in rent. It doesn't take long at all to pick up the newspaper and do some homework on what others are charging for rent. If you see you're your rent is too high compared to others around you, lower it a little for your tenants.
Offer amenities at no extra cost - There is nothing wrong with throwing a few perks into the lease to keep your tenants. Try providing amenities like washer and dryers, updated appliances, garbage disposals, and other things large ticket items that they can use in the apartment.
Utilities included - Rent can be expensive for some people. Often times it's the little things like paid utilities that can give you an edge over other landlords. Try offering paid heat and water to your new tenants. There is a good chance by doing so will help you keep your existing ones, as well.
Check backgrounds - It is perfectly acceptable for you to do a background check on any potential tenants. This is your property still after all. True, you'll be taking a chance with a stranger but at least it will be an educated one by running a background check. Look for things like criminal history, payment issues and other potential red flags.
One step of being a successful landlord is finding the time to choose the best tenants for the apartment and to keep up with the maintenance of it. Here are a few bits of advice to help you gain potential tenants and keep the ones you already have happy. Although you rental situation need some different ideas than what I have listed below, these should get you started to a profitable and stress free rental property.
Let's keep it clean - No one wants to live in a dump and that's what you'll be trying to rent out if you don't keep the apartment clean. If the rooms are filthy or unkempt, it will give off a bad impression of your property and of you.
The devil is in the details - This is an important one. Go over the lease with tenants in excruciating detail. The last thing you want is any "surprises" a few months down the road. Take a walk through the apartment with the potential tenants before they move in. This way you and they are on the same page with everything.
Finish up repairs in time - One of the most common complaints you'll hear from tenants is the difficulty in getting something repaired or finding the maintenance man. Invest some time and money keep your rental properties operating in top condition.
A little sprucing up will do the trick - In addition to keeping your buildings clean, you will have to paint and maintain the exterior of them. If the outside of the building looks beat and rundown, nobody will want to see what the inside looks like let alone live there. Do some landscaping. It is more important than you might think in attracting and keeping tenants.
Do your homework on other prices - Does it seem like you are losing a lot of your tenants lately? Maybe you're charging too much in rent. It doesn't take long at all to pick up the newspaper and do some homework on what others are charging for rent. If you see you're your rent is too high compared to others around you, lower it a little for your tenants.
Offer amenities at no extra cost - There is nothing wrong with throwing a few perks into the lease to keep your tenants. Try providing amenities like washer and dryers, updated appliances, garbage disposals, and other things large ticket items that they can use in the apartment.
Utilities included - Rent can be expensive for some people. Often times it's the little things like paid utilities that can give you an edge over other landlords. Try offering paid heat and water to your new tenants. There is a good chance by doing so will help you keep your existing ones, as well.
Check backgrounds - It is perfectly acceptable for you to do a background check on any potential tenants. This is your property still after all. True, you'll be taking a chance with a stranger but at least it will be an educated one by running a background check. Look for things like criminal history, payment issues and other potential red flags.
Related Tags: real estate advice, real estate property, property advice, owning an apartment building, apartment real estate
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