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Tips for Keeping Tenants in Your Rental Property

Tips for Keeping Tenants in Your Rental Property

If you are an investor who rents homes, having tenants is important to make sure that you make a profit. They pay your mortgage and put money in your bank account. It is important to show them that you appreciate them, so they stay in your property and continue keeping your investment worthwhile. Here are some ways you can show your tenants that you appreciate them.

Probably one of the least productive things you can do as a property owner in maintaining your relationship with your tenants is to constantly remind them that you own the property. They know you are the owner; if you make too big a point of it or frequently bring it up, they could start feeling a little defensive or possibly take it as an insult. If you show respect understanding of their position, they will be more likely to respect you and your property by being good renters.

Make it a practice not to make unexpected visits or enter the property when the tenants are not at home. In some states, this isn’t just a violation of the tenants’ privacy, it’s also a violation of the law. Enter the house when the tenants are not home only if you have an understanding with them, or if it’s a real emergency.

You have the opportunity to be a teacher or mentor when it comes to inexperienced tenants. You have the opportunity of showing them, by taking the lead and giving a good example, how to engage in a successful association. You can show them around the house and give them detailed information about the various appliances and fixtures so they can see how things work. Also, let them know about any quirks or oddities that the house has, for example if you have to avoid taking a shower while running the clothes washer. Make sure they also know how to get in touch with you in case they have any problems about the property. One good way to make them feel welcome is to bring sandwiches or a pizza on the day they move in. Even though something like that is such a small gesture it can do a lot toward creating a sense of mutual respect.

A good, reliable tenant is hard to find. When it happens that you have a good one who wants to renew the lease, it benefits both you and them. From your side, you save a lot of turnover time and expense. When it’s time to renew, come up with something to offer, even something of just a small value, that makes the unit better for the next six months or a year. Ask if any of the appliances need to be replaced or if they could use new curtains or maybe some landscaping work. Think of one thing you can throw in to improve the deal if you can afford it. There’s a good chance you can deduct this on your taxes as a business expense. The suggestion of a caring approach to the situation goes farther than you might think.

A good tenant, in short, is worth keeping. That’s why it is important to make the good ones know that you appreciate them. If you had no tenants providing your income, you wouldn’t have a working investment at all. By putting in a bit more and spending some extra money, you can reap some good benefits from your rentals.

If you are ready to check out Lafayette Colorado homes, you can start and end your search at AutomatedHomefinder.com.

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