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Property Management | Landlord Education Blog

How to Keep Good Tenants in Your Investment Property?

How to Keep Good Tenants in Your Investment Property?

Landlords evict more than 1.64 million tenants each year for failing to pay their rent. Good tenants always pay their rent on time, which is why you should focus on finding and keeping the good ones.

A good tenant also cares for their rental unit and doesn't start problems with other tenants. So if you own investment properties, one of your top objectives should be to find good ones.

But, how do you find good ones, and how do you keep them? 

If you're interested in learning these things, continue reading to discover the top ways to find and keep good tenants. 

Choose the Best Tenants From the Start

Keeping good tenants is much easier when you aim to find good ones from the start. So, how do you find a tenant that will work out well? The best way is through thorough screening procedures. 

The first tip is to advertise well for your available units so you can attract many applicants. Next, you should run criminal background checks and credit checks. 

Additionally, good tenant management involves contacting an applicant's previous landlords. 

You'll find the best ones if you can choose tenants without criminal records and with good credit scores. Additionally, you'll know you found a good one when previous landlords give positive reviews. 

Provide Excellent Services

Next, you'll need to focus on excellent leasing management services. The main premise of this tip is to take care of your tenants. 

For example, you must provide quality and time tenant maintenance services. You might want to provide monthly pest control services and other routine maintenance services to keep the properties in good condition.

In addition, you must address every problem quickly. For example, if a tenant calls for a plumbing repair, make sure you send a plumber that day. 

Addressing these issues quickly improves your tenant relations and encourages them to stay. 

Offer Great Properties

Finally, it would help if you focused on keeping high-quality rental properties for your tenants. To do this, you must care for the properties. 

For example, you should use a checklist each time a tenant moves out of a rental property. The checklist monitors the work you perform in the unit before renting it to another person.

Your checklist should have high standards. For example, you might want to repaint every unit in between tenants. You might also want to replace the plumbing fixtures every 5 to 10 years. 

Keeping up with the work your properties need attracts good tenants. Then, once you have a good tenant, you can take the appropriate steps to keep them. 

Find and Keep Every Good Tenant

If you want to find and keep every good tenant, you might want to hire a property management firm for help. Property managers use the best screenings for tenant selection and offer high-quality services.

Contact us f you're interested in learning about our property management services. Renters Warehouse Hampton Roads offers property management services in the Hampton Roads area, and we can help you find and keep the best tenants.