Great Relationships Lead to Longer Tenancies
How to Grow Your Tenant/ Landlord Relationship
When people think about their tenants and the relationship they have with them, they don’t often think to themselves, “How can I grow and develop this relationship?” and understandably so. However, there are many advantages to building a great relationship with your tenants.
Long-term tenancies save you a lot of money and increase your bottom line. The better relationship you have with your tenants, the better they will treat your property. It is worth it to invest in that relationship. Everything from offering credit reporting and giving tenants the option to add rental history to their credit reports to regular communication and minor upgrades will help develop that tenant/ landlord relationship.
Tips to Improve Your Tenant/ Landlord Relationship
Did you know that two big reasons that renters move is that they have unmet maintenance issues and because they don’t feel valued? These two can easily be avoided through regular communication with your tenants. Be available to speak to them and see what their needs are.
- Do they need a small maintenance issue fixed?
- Would they like to add rent to their credit reports and begin credit reporting to increase their credit score?
- Are they enjoying the property?
This will show them they are valued and it will give you a good idea of what they need to stay happy.
Offer Inexpensive but Valuable Perks!
By having value-add perks part of their rental, tenants are likely to stay much longer. What kind of inexpensive perks?
- When they move in, include a small gift and provide a list of the local amenities and community leagues they can join with contact info so that they can get settled in and make their new residence a home.
- Offer the option for credit reporting to your tenants. If they know that you will add rent history to their credit reports and that it gives them a great chance to increase their credit score, they will be grateful for it.
- Make rent collection as easy as possible. Offer online and electronic payment options to make paying rent easy and simple.
Offer Incentives for Extending their Lease
Everybody loves a good incentive! Incentives for staying and extending a lease may cost you a small amount today but will save you money in the long run. Vacant units are expensive and keeping your unit rented is key to running a profitable rental property. What kind of incentives?
- Partial rent for the first month of their new lease. The cost of this will be recouped by the money you save from not having to prepare the unit for another tenant.
- Do a home cleaning service at no cost to the tenant. This makes the tenant feel great and you can get a sense of the current state of the unit from the cleaners.
- Offer credit reporting and the ability to add rental history to their credit report. This gives them the ability to increase their credit score by doing what they are already doing.
Credit Rent Boost Can Help
CreditRentBoot.com can help you build a long-lasting and strong relationship with your tenants. We offer credit reporting and the ability to add rental history to the credit reports of tenants so your tenants can boost their credit scores and you can protect your investment property. Reach out today and see how CreditRentBoost.com can help grow your tenant/landlord relationship.