Education and news for smart DIY landlords!
Just because Valentine's Day is over, doesn't mean you won't show to those whom you care for... especially your tenants. Showing love to tenants can be done in different ways. The bottom line is that it reduces turnover and increases the likelihood of them caring for your property as well.
Here are the ways:
Are you creating a safe environment for them? If your apartment is situated in a high-crime area, invest in a home security system. Establish precautionary standards. Give them instructions such as calling 911 first, then you, in case of emergencies.
If your tenants say that they are interested in renewing, express your gratitude by providing a renewal incentive. It doesn't have to be extravagant. Simple incentives may include a pass to a local attraction or a new painting that they can hang on the wall. A gift card does the trick as well!
Whether you have scheduled a meeting with a tenant for property inspection or maintenance, always be on time. Being late is rude and can strain your relationships. Make being prompt a priority and your tenants will appreciate that you value their time.
One of the best ways to maintain good communication with tenants is to send them regular emails or newsletters. A newsletter doesn't just offer tips and reminders, but it also makes them feel at home. Great newsletter topics can include maintaining cleanliness, dealing with messy roommates, and community events they might be interested in.
Staying on top of maintenance ensures that the rental property is in a habitable condition. Know what needs to be fixed or replaced. Check that everything functions properly, such as the plumbing, electricity, heating, and appliances that you've supplied.
If you're planning to redesign the front yard or repaint the apartment, try to ask for your tenant's preferences. This encourages tenant participation, which can empower and encourage them to keep their place in good condition, like it is their home.
If you’re ready, make Landlord Prep your go-to resource for landlording education. Here, we offer a complete DIY landlording course to get you on the right track. Join our academy today. If you want, you can check out Flavia’s real estate investing webinar first!