Dealing with terrible tenants is every landlord's worst nightmare. Owning investment properties and benefitting from the income is quite enjoyable—until a bad rental experience ruins the illusion of easy Fairfax property management.
Finding quality tenants isn't easy! Once you do manage to find great people for your great spaces who remind you how much you enjoy being a property investor, you want to keep them as long as possible. You can trust good tenants to pay the rent on time, take great care of your property, and never give you a reason to consider eviction or to avoid renewing a lease.
How can property owners in Fairfax keep the very best renters for the long haul? Follow these tips from the experts in Fairfax property management to create lasting—and rewarding—working relationships with your renters!
A quick note: This article is not intended as legal advice. However, it can be a great introduction to steps landlords can take to improve relationships with your renters. If you're facing a situation that requires legal counsel, work with a competent attorney, or get in touch with your Fairfax property management experts at RentSimple!
Why Do Good Tenant Relationships Matter?
The great people who rent your great spaces are more than a rent check! Remember that the people who reach out to you and apply to live in your property are looking for a home—not just a house where they can stay while paying someone for permission to live there.
Building good relationships with your tenants helps them feel more at home. Renters might find a place they like to live, but good landlord-tenant relationships can help them decide to stay longer than one lease term.
When renters know they have a landlord who they can trust to help them with maintenance requests, keep them informed, and provide excellent customer service, they're more likely to renew their lease.
Happy Tenants Are Long-Term Residents
Keeping great people in your great spaces longer is one of the best ways to make more money from your Fairfax investment properties. Happy tenants want to stay put!
This is especially true for tenants with pets: in a competitive rental market, it can be hard to find the right rental home at the right price that also allows a four-legged, two-legged, or finned friend. When a renter discovers your great spaces under the expert care of Fairfax property management, they'll want to stay put long term.
The COVID-19 crisis has certainly put moving on the back burner for many renters: give them a reason to not want to move, and you'll likely see renewals from your residents!
Happy Tenants Are an Investment
It's not hard to see the lasting returns you stand to gain from helping the great people who rent your great spaces feel like valued residents. Tenant turnover is expensive! Long-lasting, working relationships with your renters reduce your costs, improve your bottom line, and forge stronger communities.
- Pay the rent in full on time every month.
- Help keep an eye on your property.
- Follow the rules in the lease agreement.
- Adapt to small rent increases during lease renewal.
The stress, expense, and time sink of finding a new place to live aren't worth it to many tenants when it's time to renew a lease. Even when property owners need to add a reasonable increase to the rent for a new lease term to cover vital expenses, good tenants easily adapt to the change because it's worth it to keep a home and landlord they appreciate!
How Can Property Owners Build Good Tenant Relationships?
Next to your Fairfax rental properties, your tenants are your most significant investment! Being a good landlord helps create excellent tenant relationships. Without great people paying the rent for your great spaces every month, you won't see lasting returns from your rental homes.
Your tenants can leave at the end of their lease term—but you have your properties for the long haul. Empty properties cost money! Treating your renters as though they are as important as your properties can help you develop excellent long-term relationships and reduce vacancies.
You don't need to shower your tenants with gifts continually. However, renewal incentives, thank you notes, or other thoughtful gifts can remind tenants that you value having them as residents in your Fairfax rentals.
Keep In Touch
They don't need to hear from you every day, but tenants need to hear from you more often than when they move in and when it's time to renew the lease.
- Reach out once a month or quarterly to ask if your renters need anything.
- Use seasonal inspections as a time to check in and make sure your tenants are happy and comfortable.
- Keep them informed about any changes to operations or updates about their Fairfax rental home—especially during times like these.
Don't wait for an emergency to connect with your tenants throughout their lease term!
Be Timely With Work Orders
As an expert in Fairfax property management, we know that poor maintenance services and a lack of responsiveness are the top two things that will drive good renters away and straight into a competing rental property. Create a system to respond promptly to all work orders or requests from tenants.
Even if you can't schedule the work right away, let your residents know that you received their request—and it's in process!
Hire a Fairfax Property Manager
Fairfax property management companies are experts at tenant relationships! Many property investors don't know how to approach their renters, feel anxious, or simply don't consider themselves a "people person." With an expert property manager, you don't need to take the initiative. Your property manager knows how to help great people feel valued and supported while living in your great spaces.
Property Management Builds Lasting Tenant Relationships
Your relationship with your tenants can make or break your success as a property investor in Fairfax. Let RentSimple help manage your tenant relationships!
We know what residents need and appreciate from a good landlord—including flexibility on rental payments in a crisis. Download our free Collecting Rent in a Crisis Handbook to gain access to our inside insight as a Fairfax property management professional!