Landlord
Retaining good tenants is one of the goals of a landlord. Making sure that your tenants are consistently happy with their place to continue to rent with you can sometimes be a difficult thing to do. So here are some ways you can do to increase the chances of your tenants to stay in the property.
1. Making necessary repairs quickly
There is not an ideal tenant who wants to pay a landlord for a rental property that has a lot of issues such as leaking faucets, mold within the property, malfunctioning heater, or failing ceiling. In order to prevent constant complaints and your tenants searching for a different place to live, it is best to fix serious problems as soon as possible. Moreover, before you let your property, it is important that such issues are cleared.
By addressing the issues quickly, the tenants will know that they are taken care of. Also, this will build trust with your tenants
2. Making Upgrades
In the rental property market, there is no shortage when it comes to competition. This is true in London. So, one thing you can do as a landlord is to invest in improvements to make the property more appealing to the tenants such as upgrading the bathroom design and installing kitchen appliances that are energy efficient
3. Give Plenty of Notice when you are increasing the rental rate
Increasing the rental rate cannot be avoided at times. The most important thing that can be done when increasing the rent rate is to give your tenants plenty of time to adjust to the change. By law, if the tenant is paying weekly, the landlord must give the tenant at least one month's notice. While if the tenancy is annual, the landlord must give the tenant at least 6 months’ notice.
Offering your tenants some alternative to make the cost down even when there is an increase of rate is also a nice way to minimise the negative reaction from the notice – increasing rental rate.
4. Hiring a professional property management company
When a landlord is too busy juggling so many things, handling tenants can sometimes be overwhelming and can compromise the quality of the service of the landlord. If you have so many responsibilities, maybe it is time to think about hiring a professional property manager for your letting property. This will allow you to have exceptional services for your tenants. Moreover, experienced property managers know how to handle tenants and can do all the things for you from screening tenants to property maintenance.
