Published February 2022. Updated October 19, 2023.
There are many things that go into being a successful landlord. However, one of the most important is learning how to keep your tenants happy and in your property long term.
To manage renters, some landlords choose the more "hands-free" route and hire the best property management Suffolk has to offer, while others try to do it on their own—only to realize the amount of work and dedication it takes quickly.
For real estate investors taking on the property owner and manager role, the right insights can help you improve tenant relationships to keep them happier long-term (and avoid evictions). We're here to help today with our best tips for improving tenant satisfaction and avoiding evictions.
Evictions are expensive! That's just a simple reality. So, the best solution to eviction is to avoid it!
The average eviction can cost north of several thousand dollars when you factor in court and eviction attorney fees, damages, and other associated expenses. In addition, property owners lose money during the eviction process when tenants refuse to pay rent or the property is vacant.
After evicting a renter, a property owner also experiences costs for advertising and getting the property back into the market. Even when you've hired a property manager to handle this process, you're still on the hook for a loss if you have to evict a tenant from your property.
So, is there a better way to operate rental properties than dealing with bad tenants and evictions? Yes!
Our property managers can tell you that avoiding evictions is easier and kinder on your returns than unhappy renters and forced removals.
In many cases, better tenant relationships, long-term renters, and eviction prevention boil down to being a good landlord. Below are some tips to help keep tenants happy long-term and avoid evictions.
Fulfill Your Responsibilities as Detailed in the Lease
This might seem obvious, but it's essential to understand your role in the lease agreement (and stick to it).
Depending on the terms outlined in the rental agreement, your role may encompass various responsibilities. These could range from routine property maintenance and timely trash removal to periodic property inspections.
Effective property maintenance ensures that your investment remains in excellent condition, preserving its long-term value. Equally important is the aspect of periodic property checks. Regular inspections allow you to identify and address any potential issues promptly, ensuring tenant satisfaction and preventing problems from escalating.
Another way to keep your tenants happy is to be proactive about maintenance and repair issues. Your tenants will get frustrated if you put off repairs or ignore maintenance issues.
Ensuring the upkeep of your property is essential to retaining tenants and minimizing vacancy rates. When maintenance issues come up (and they will), it's crucial to address them promptly. Neglecting repairs can lead to tenant dissatisfaction and an increased likelihood of them seeking a new rental home elsewhere.
Well-maintained properties attract and retain tenants and enhance the overall reputation of your rental business. Satisfied tenants are more likely to renew their leases and recommend your property to others, thereby reducing turnover and vacancy-related costs.
Establishing open lines of communication with your tenants is fundamental to fostering a positive landlord-tenant relationship. Your tenants should always feel comfortable approaching you with any property-related problems or concerns they may have.
Accessibility and responsiveness are essential! When tenants perceive you as approachable and attentive, it cultivates a sense of trust and security.
Conversely, if you are not easily accessible or responsive, tenants may feel neglected, leading to frustration and potentially deteriorating behavior. Responding promptly to questions or concerns ensures tenant satisfaction and reduces potential disputes or evictions.
Rent increases are inevitable, but property owners must ensure they're not pushing tenants too far with significant increases at lease renewal. If you frequently increase the rent, your tenants will start looking for a more affordable place to live—even if they love your property.
Try to keep rent increases reasonable, only make them when necessary to manage your expenses and ROI, and give your tenants plenty of notice so they can budget accordingly.
Some tenants prefer to pay rent in person, while others like the convenience of paying online with a credit card. Additionally, online payment systems make it easier for you to collect rent and track income.
However, you may have renters that won't adapt to online rent collection. So, offering multiple payment options makes it easier for renters to pay their rent on time. Multiple options can also help you present a more organized and professional operation for your tenants.
As property owners, proactivity in handling tenant complaints is crucial for building good landlord-tenant relationships. When a tenant raises a legitimate concern, it's crucial to respond promptly and professionally. Ignoring or dismissing the problem can exacerbate the situation, potentially resulting in disgruntled and unhappy renters.
By addressing issues as soon as they arise, you demonstrate your commitment to providing a safe and comfortable living environment through your investment property. This not only satisfies the immediate concern but also shows that you value your tenants' well-being and are dedicated to resolving problems efficiently.
Moreover, a proactive approach can prevent minor issues from escalating into major ones. Timely action can save both you and your tenants from unnecessary stress and inconvenience.
Consider hiring a local property management company if you are a long-distance investor or don't have the time or energy to dedicate to your Suffolk rental property and being an involved landlord.
All of the recommendations listed above are easily managed by a property manager. They can also provide property management services in addition to what we've talked about today—including marketing your property, screening tenants, and collecting rent to keep your properties profitable.
A good property manager, like one of our experts here at Osprey Property Management, will work to keep your tenants happy and minimize the risk of eviction.
Osprey Property Management offers the best full-service Suffolk property management services for property owners and tenants! We understand that every property is different and tailor our services to each client.
With our help, property owners experience better tenants, longer tenancies, and fewer evictions. Reach out soon to learn more about how our property management and eviction prevention services help keep tenants and owners happy!
While not all evictions are preventable, property owners don't have to navigate the process alone. Using our experience, we've compiled the "Rental Property Owner's Tenant Eviction Checklist." Download it for free to learn more about the tenant eviction process.