You may have heard that happy tenants lead to happy owners. While we can’t speak about your own happiness, we do know that happy tenants are more likely to pay their rent on time, take care of your home, and renew their lease agreements. A happy tenant is willing to communicate and creates a profitable investment experience for you.
We are sharing seven ways to make sure your Orlando residents are happy while they’re renting your property.
1. Be a Gift-Giver
Everyone loves presents.
Give your tenants a small but meaningful gift when they move in. This will welcome them to their new home and help to establish a positive relationship with you. The gift doesn’t have to be elaborate; consider a pretty candle or some flowers or a basket with gourmet foods and little luxuries. Provide small gifts at lease renewal time as well or when a major anniversary rolls around – like five years in the same home.
2. Communicate Openly about Expectations
At the beginning of the lease period, talk to your tenants about what you expect from them. Discuss the lease and answer their questions. Your residents need to know how they should pay rent and what they’re responsible for in terms of maintenance and landscaping. All that information should be in the lease, but if you talk about it, you can reinforce those things and demonstrate your willingness to communicate.
3. Express Gratitude and be Generous with Thank Yous
Thank you is a phrase that goes a long way. When your tenants are timely with the rental payments, say thank you. When they report repair issues right away, say thank you. Showing that you appreciate them and their willingness to pay attention to the lease agreement will make them feel appreciated.
4. Be Responsive with Maintenance
Responding to repair needs with a sense of urgency keeps tenants happy. It also protects the condition of your property. Don’t make promises that you have no intention of keeping. If you say you’re going to fix something, fix it. After the work has been done, follow up with a call or a text to make sure the tenants are pleased with the results.
5. Keep in Touch
You’re probably quick to call when rent is late, but do you check in once and a while for no reason? You should. Give your tenants a call or send them a message from time to time and ask if there’s anything they need. Share any local information or upcoming events that they might find interesting or helpful.
6. Respect Your Tenant’s Privacy and Space
Don’t show up at the property all the time, even if it’s well-intentioned. Your tenants will find this invasive and frustrating. Leave your residents alone to enjoy the privacy and quiet of their home. While conducting an inspection during the course of the tenancy is reasonable, schedule it well in advance.
7. Be Smart about Rental Increases
When you have a tenant who is performing well and paying rent and taking care of the home, you want to keep that tenant. Most tenants expect a modest increase when the lease renews, but don’t be unreasonable. Raising the rent 10 or 15 percent is a good way to turn a happy tenant into an unhappy tenant.
These are just seven of the ways we manage our tenant relationships and keep our residents happy. If you’d like some help managing your Orlando rental property, we would be happy to talk with you. Contact our team at Park Avenue Property Management.