Tips for Reducing Tenant Turnover
Many landlords suffers a lot because of tenant turnover. It is like bane of most landlords. When a tenant leaves your property you have to clean the property, again have to invest dollars for advertising your property and screening tenants. You again have to go through the same procedure of hiring tenants for your rental property. And this is not only consumes lots of time but huge funds too. Tenant turnover can be proved expensive process for most landlords. The process is so irritating that you may regret at some point that why you have become the landlord.
Well, you don't need to worry for this as there are ways through which you can reduce tenant turnover and it is not expensive as remodelling your apartment or house. So, here are some tips through which you can keep your tenants happy and it will reduce tenant turnover. There are some changes that you need to do for reducing tenant turnover and they are as follows:
Screening Tenants
After buying a new property, landlords do not want to keep their property empty for longer period and they immediately fill their property without even screening the tenants and later face the same problem of tenants turnover. You must take your time to hire right tenants for your property. Take your time for screening them. Do background check and opt for the tenants who seems more stable with few job or apartment changes in past. The more reliable your tenants will be the more longer they will stay.
Change Lease Agreement
If you have faced this problem many times then this is definitely to make changes in the lease agreement you make for the tenants. If you are still unsure about the tenants then you should make the lease agreement for one or two years and clearly mention that you can keep the security deposit if the tenants will terminate the lease agreement before time.
There is a professional relationship between a tenant and a landlord but that doesn't mean you cannot build a friendly relationship with the tenants. You must communicate on regular basis with your tenants and always try to listen their problems. Your friendly behaviour will make them comfortable in your property and they would like to stay longer.
Respond to Their Calls with Urgency
If you really like to keep your tenants happy for staying them longer in your property then, you must attend or respond their calls with urgency. You must listen and take immediate actions on their complaints. Whether it's a maintenance need at the property or noise complaints in the neighbourhood. You must respond to their request with urgency.
Managing your rental property by a professional property manager is very easy but when you are managing it by yourself you can actually know the importance of property management companies and why you should hire them. Well, these tips will surely help you to reduce tenant turnover but if you don't want to face such problem and keep it very simple for you then you must hire property management company in Maryland for managing your rental property in awesome way.