It’s no secret that good tenants are hard to come by. Those looking for a house to rent have a myriad of choices and, more often than not, bargaining power, so it’s a tough market. Making an effort to find qualified tenants is worthwhile, as you don’t have to worry about having a careless stranger living in your home. Some residents make life as a landlord much more manageable. They pay rent on time, refrain from causing problems/disturbances, care for the rental property, and are easy to communicate with. If you keep your tenants happy, they’re more likely to stick around. Building a good relationship with your tenants will eliminate essential chaos and will turn out valuable in making your investment more profitable.
Here’s how to deliver a happy tenant experience.
Give Your Investment Property a Homey Feel
Treat your rental property like home and improve it in whatever way you can. Upgrades will make the place look cozy and inviting, meaning they’re incredibly effective. For example, you can install new plumbing fixtures like sinks, faucets, and showerheads to ensure an uninterrupted water supply and properly functioning drainage system. Equally, you can add more storage. Eternal storage offers tenants a permanent and secure option for arranging their belongings, but if you want to make your property more attractive, include built-in shelving and closet organization systems. It can be tricky to ensure your property remains competitive as far as rental price is concerned while offering tenants much-needed features.
Renovations make your home more attractive to good residents, but it’s important to balance the cost against the outcome. The ideal time to start remodeling is between tenants (and when you have the necessary funds) to avoid mess and inconvenience, so complete the job as quickly as possible. If you renovate the property during a lease, you must protect their privacy right to quiet enjoyment; otherwise, you may be required to refund the rent and/or pay damages. Kitchen and bathroom remodeling offers the most considerable return on the investment, especially if you’re looking to sell in the future, but these projects will make the place inhabitable.
Encourage A Longer Lease
By offering renters longer leases, you’ll enhance their financial health and happiness, so it’s improbable they’ll move to another place. Simply put, you have insurance against lost income and avoid the wear and tear associated with move-ins and move-outs. When you have a long-term tenant, you have the opportunity to know them better, so you know if you can trust them with your property or not. Establish what people can expect from you from the very get-go. By signing the lease agreement, residents agree to the terms stipulated in it, but you must also stick to your side of the bargain.
Be Responsive to Repair & Maintenance Issues
Of course, you don’t have to drop everything you’re doing, but when it comes to major issues, such as a boiler breakdown, make sure to address the issue in a timely fashion. If no maintenance is carried out, the internal components rust or corrode, debris can accumulate, and mechanical failure will lead to gas problems. Nothing can be more frustrating than waiting weeks or months on end for a resolution, so respond within a reasonable timescale. As a rule, a loss of heating or hot water supply must be fixed within one working day, so if you don’t fix the boiler fast enough, the tenant has grounds to pursue legal action.
With no radiators to heat the place, it will be nearly impossible for residents to keep warm, so a temporary boiler is one of the most important things to consider. In New York, there are many companies dedicated to boiler rentals, and if you’re interested in a New York boiler rental solution, gather information and pricing before the boiler can be hooked up to your property. Make sure the rental property is warm enough during the cold months of the year, so contact a vendor before things spiral out of control. Don’t forget that a temporary boiler can be used when you need to provide supplemental heating (it’s better than a radiator).
Be Respectful of Your Tenants’ Privacy
As the landlord, you have the right to inspect the house, but that doesn’t mean you can show up at the property unannounced. If you want (or need) to visit the property, it’s necessary to give a 48 hours’ notice for any non-emergency reason to enter the premises. Surprising as it may seem, even stopping by to say “hello” is considered an infringement of privacy rights, mainly when done repeatedly. It’s a good idea to visit the rental property once every six months to remedy issues that might arise. If the renters are gone for at least a week, you have the right to enter the property without permission to protect it from damage, but you can’t do it without a good reason.
Allow Pets into Your Rental Property
Responsible pet owners make good tenants, so you’ll miss out on additional income if you hold onto the idea that dogs and cats are bad for rentals. If someone is mature enough to take care of a pet, there’s a good chance they’ll treat your property like their own. You can charge a higher rent price, a pet deposit, or even pet rent if you’re nervous about renting to pet owners – the decision is up to you. As long as the residents follow your rules and make sure their dog or cat doesn’t cause damage, there shouldn’t be any conflict between you and them.
In conclusion, the smallest changes can have a big impact. Undoubtedly, the tenants will notice and appreciate your efforts, so do your best to keep them happy. Making your house rent ready, advertising the vacancy, showing the property, and screening prospective residents is one of the most costly and labor-intensive. Once you’ve found the ideal tenants, keep them in your property for as long as possible. If you can manage that, good for you.