According to the service you select, your agency will ensure that all the background checks are in place and deposits are collected. Once your tenants have moved in, it’s up to you to help them to stay happy in your property for as long as possible, (assuming that you would like long term business).
5 Ways to Retain Great Tenants
1. Be Proactive
Everyone would prefer to live in a well-maintained property – including your tenants. Be aware of maintenance work and updating that may be required, instead of waiting for tenants to request attention.
It’s important to respond to tenants’ queries and requests promptly.
If the situation can’t be resolved quickly make sure that you keep your tenants updated. Even though your property is rented, it is your tenants' home.
By helping your tenants to get involved with the local community, they are more likely to feel ‘at home’ and enjoy where they live. Joining in and getting involved with groups, activities and sports increases the potential for long term and renewed rental periods.
4. Say 'Thank You'
‘Thank You’ is such a powerful expression. Maybe your tenant has been very flexible regarding access for property repairs. Some tenants are happy to redecorate themselves. Others are simply regular payers, get along with the neighbours and don't ask for any extra work on their home… these ideal tenants are easily forgotten as they are quiet and easy going.
According to Endsleigh Insurance Services, 70% of tenants who received an act of kindness stayed in their property for 24 months or more, compared to just 53% who hadn’t.
Please don't take good tenants for granted! Remember to say thank you – this acknowledgement builds trust and goodwill.
Investing in new fixtures and fittings encourages people to stay. It also demonstrates that you trust your tenants to look after your property. Some tenants are more responsive to paying a higher rent if the property is improved.
“A growing number of people look for rental properties rather than buying,” explains Jason Dyer of JTM Homes. “Reliable tenants are extremely valuable and it’s important that landlords do what they can to retain them.”
The specialist JTM Homes Lettings team is happy to offer expert advice to existing and potential landlords. To find out more, contact either our Highgate or our Archway office. We're here to help.