How Do You Keep Good Tenants?

Discussion in 'Landlord & Rental Property Questions' started by Rainman, Nov 1, 2014.

  1. Rainman

    Rainman Senior Investor

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    These could be those people who always pay their rent on time. They care for the house like it was theirs. And maybe you just have become good friends though neither of you lets that get in the way of the tenant fulfilling terms of the lease. Any landlord would not want to lose such a tenant. Care to share some tips how you can keep that tenant?
     
  2. dianethare

    dianethare Senior Investor

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    Wow, sounds like you are speaking of angels, oh how i wish i 'd land one of them, that relationship would be long-lasting, i 'd do all i can to make their stay more enjoyable and worth the while, maybe talk over the rent value terms, am sure i 'd cook something up in the event i get such a blessing :)
     
  3. Glcameron

    Glcameron Well-Known Member

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    I personally offer the option to purchase the property or I would go through the process of trying to see if they want to refer someone they know. I own about 4 properties and one of those I actually have a partnership with a domestic violence shelter, allowing them to work out the details in picking a tenant to rent the home to that would be able to afford or take care of it. I think I've had great success because the shelters themselves have to house the person for over 90 days so they have great insight into what the person's hygiene habits are which makes it better for me because they wouldn't put anyone in the property that would damage it because they still want that relationship.
     
  4. dianethare

    dianethare Senior Investor

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    I had not thought of that...the referral type aspect, that would work greatly but if its a bad tenant leaving, he has nothing to say other than trash, speaking from experience....gladly things are turning around positively
     
  5. ThinkPositive

    ThinkPositive New Member

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    Well, you can make an effort to show them that you value them as tenants. I had a really good couple rent for a few years before they decided to buy their own place. We maintained a good dialog about anything that needed fixing and I did my best to get their input when I had to make improvements to the house. For instance, when it came time for a new paint job, I let them choose the color (with my approval of course!) but they chose a nice blue.

    I made several improvements to the property, and always talked with them about it. It worked out well because it allowed me to take off the improvements on my taxes before selling the property and they felt like they were more than just a tenant who's opinion didn't matter.

    Good tenants are few and far between. So, I wish you good luck!
     
  6. Rainman

    Rainman Senior Investor

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    They are hard to come by yes but they do exist. There's this one example: an elderly couple I know lived in a huge house. All their kids had moved out and they hardly ever visited. So they decided to rent out one part of the house to a really nice lady. This lady treated these elderly couple as part of her family. Anytime she went shopping grocery shopping, she'd buy them the same stuff she'd got herself. If I got one such tenant then I guess I'd save a lot of money at the end of the month.
     
  7. jason

    jason Guest

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    Great tenants are amazing when they come along. I try to just be friendly and keep a good line of communication open. They have higher priority when it comes to needing me or help with anything in their unit, too.
     
  8. Peninha

    Peninha Senior Investor

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    To keep good tenants is just a matter of keeping the house in good conditions, if they are happy with the place they will not move, seems pretty simple to me.
     
  9. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Offer a complimentary cleaning every so often.

    If it's a complex, throw free parties for the tenants every so often.

    Maybe consider an occasional free month, or perhaps even lowering the rent a bit on occasion. Perhaps even a purchase option as someone else mentioned.

    People are less likely to terminate business relationships if they have some sort of emotional attachment or fondness for those they are in business with or even just for the products / services offered.
     
  10. springbreeze

    springbreeze Well-Known Member

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    Yah, those are the best tenants! Here are 3 things I've done in the past...

    1. Don't raise the rent every year. They signed up with you because they could afford it, at that price. If you raise it several hundred dollars, they will have to do the math again and you may end up losing to financial practicality.

    2. Respond promptly to their calls and fix what needs to be fixed. This is a business after all.

    2. Send a care/appreciation gift basket. Around the holidays, you can even send a holiday basket. Just make sure you know what religion they practice and what gifts/food they are allowed to receive/eat.

    Basically, show them that you appreciate them. People do like to be rewarded for being good since being is good is so much harder. ;)
     

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