Every Charlotte landlord knows how big of an impact a high rental vacancy and turnover rate can have on their rental property income.
Turnovers are expensive as every landlord knows. You will need to get your property rent-ready again, advertise it, market and show the property, and screen tenants all over again. All-in-all these tasks are costly and laborious.
So if you found the ideal tenant, it pays to keep them as an important part of the business. When thinking about improving the experience for both you and your renters, maintaining a good relationship is the key.
In this article, we’ll look at ways to keep your Charlotte, North Carolina renters happy.
There should be clear rules for tenants to adhere to. You need to adhere to them to keep your tenants in check. It’s important to be clear to your tenants about lines of communication to ensure positive landlord-tenant relations as well as tenant retention.
Be reachable and let your tenants know how to contact you and be clear about response times.
No tenant wants an unresponsive landlord. You have to prove that you care about them.
Moreover, you need to be available to prospective tenants who want to view your property. It will only take one missed call to miss out on a potentially great tenant.
Tenants appreciate a thoughtful landlord. Show your appreciation by remembering to send them a card, gift basket, or coupon on special occasions like birthdays.
For new tenants, they will appreciate a welcome basket that includes a list of recommendations for nearby restaurants, coffee shops, or grocery stores. You can include a bottle of wine, or tea, coffee, milk and bread and it will be a pleasant surprise especially after a long day of moving. Remember, being thoughtful doesn’t have to cost much.
To maintain a good relationship with your tenants, it’s important that you also get off on the right foot. It’s important that these rules are being indicated in the lease agreement because being clear about this will give you enough legal remedy should your tenants violate them.
There should be clear rules for tenants to adhere to. Set clear rules for deposits, rent amount, rent fees, notifications, maintenance requests, pets, and other policies.
Each home and appliance are a little bit different, so provide them with practical information on how the property works. When they move in, give them a run-down of how certain appliances work, where the gas and electric meters are, and what day the bins should be put out.
By educating them at the start of the tenancy, hopefully, you’ll answer most of their questions so they feel more confident and capable of taking care of your property.
This is without a doubt one of the most common areas that result in problems for landlords. Maintenance issues are a problem for many homeowners.
Even though landlords are used to hearing complaints about all sorts of maintenance issues, from leaky faucets to overflowing toilets, these complaints can still become hard to deal with. Show your clients that you care by responding swiftly to their requests concerning repairs.
If you’ve been lucky enough to acquire and keep a great long-term tenant, be sure to offer them fresh paint and a professional carpet cleaning every two or three years.
It’s a tenant’s basic right to have the privacy of their rental. Before planning to enter their unit for whatever purpose, the North Carolina tenant-landlord laws state that you give them at least 24 hours’ notice.
It’s advisable that after a month into the tenancy, give your tenants a courtesy call to see how they are doing. This is a great opportunity to ask them questions about how they are doing.
One of a landlord’s challenges is dealing with tenants who are disruptive to other tenants. You will want your tenants to live together peacefully and this is crucial to your business. Nothing will drive ideal tenants away from your building more quickly than having to deal with insufferable neighbors.
If the problem doesn’t get fixed, an eviction may be required. Ensure that you’re knowledgeable about the eviction process to avoid legal problems.
You might be tempted to raise the rent to the maximum amount if your property is in a weak rental market. However, if you think about it, by offering tenants below-market rates can be a great retention tool. In the long run, this can potentially save you hundreds of dollars in turnovers.
To fill in your vacancies, it’s also a good idea to offer incentives for tenants. This is beneficial to both you and your tenant. One, you will get to increase your search for tenants and two, your tenant retention will also increase if their friends or family end up in the same place as them.
The process doesn’t stop once you’ve found a great tenant. You also need to make sure that your tenants’ experience in your property is positive and encouraging to make them want to extend their tenancy. Maintaining a good relationship with your tenants is vital when it comes to dealing with your rental property. You will find that things will be much easier for both of you and your tenants when you build a relationship of communication and trust.
As a landlord, it’s in your best interest that your tenants will be able to enjoy a stress-free tenancy and take better care of your property. In turn, they will most likely rent long-term.
