As a landlord, you want stability, and you want to be confident in the knowledge that good tenants are going to stay and the rent will continue coming in.
Here, we look at how landlords can keep their tenants happy – and why it is so important.
Happy Tenants = Happy Landlord
There are many reasons people become landlords. They might have some money to invest perhaps, or they might have inherited a property.
What’s true of every landlord though is that they want stability. They want to know that their investment is safe and that a paying tenant is staying put.
That’s what being a happy landlord is about.
If a tenant wants to move out, it causes hassle for the landlord.
- They have to find a new tenant.
- They have to get updated safety checks carried out.
- Maintenance costs or cleaning costs may come in.
- Time is needed to check on properties.
That’s why being a happy landlord is important, and it’s why keeping a tenant happy is crucial.
What’s a Happy Tenant?
That’s a good question. A happy tenant is someone who will want to stay in the rented accommodation long-term.
But tenants are all different, and so what makes one happy may not make another happy. As a landlord – all you can do is your utmost to ensure a good relationship between you and your tenant.
Here’s how to keep your tenant happy!
If a tenant has a problem, and they let you know about it, respond. Not just to their message, but to the actual issue itself.
If you say you’ll get round to a problem within a set time, ensure that you do. Solve the problem.
In doing so you’ll also be looking after your investment by sorting issues out before they become big problems.
So if a tenant comes to you and says they have a problem, perhaps with rent payments, be prepared to be flexible. Work out a solution that means payment is perhaps deferred or delayed.
- Create a payment plan.
- Offer a short rental holiday.
- Agree timescales and get everything in writing.
There are rules for landlords when it comes to visiting properties and checking up on things.
But, we say as a general rule, a tenant’s house is their home and you should treat it as such. You should not simply arrive unannounced.
Your tenants want to get on with living their own lives with privacy and don’t want to worry about their landlord checking up on them all the time.
The tenancy agreement should be clear, particularly about rights and responsibilities. This sets things out on the right footing should anything happen during the tenancy.
If a tenant is unsure about the future of the property they live in, they may be nervous. Don’t go idly talking about selling up or increasing the rent, even if you are considering it. Be truthful about things.
We’re not talking about popping in for cups of tea or going out for a beer. But, check in on your tenant sporadically (and by appointment) to make sure all is OK. If you know someone has an issue of some kind, ask if they are all right. If a tenant thinks you are looking out for them, they are more likely to be happy, look after the property, and importantly stay – keeping you happy.
These are just a few pointers for you. We work with a number of landlords in the London area and we will be more than happy to share our thoughts with you.
Call us on 020 8366 9777 or email [email protected]