The rental vacancy rate in the United States is lower than it has been in years. That means that people are moving into properties and staying there.
That's because rental owners are making the decisions necessary to make tenants feel like renting is a great option. If you want your tenants to stay long-term, follow these helpful tips.
1. Get Their Input
When you own a property, you get to make all the decisions about what color to paint it, what finishings to have in the bathroom, and how updated the kitchen is.
While making those kinds of design decisions can be fun, if you want your tenants to stay in your home for the long haul, you should get their input. Find out what appeals to them. If they feel like the home was decorated specially for them, they're much less likely to move out.
2. Perform Periodic Maintenence
Some property owners aren't worried about taking care of their rental unless something breaks. But if you wait until then, your tenants are sure to have to deal with some headaches.
Instead of waiting until something desperately needs repair, you should perform regular maintenance on your property. By taking care of your appliances and fixtures now, you'll keep your tenants feeling happy and cared for.
3. Crank Up the Curb Appeal
While many rental owners maintain the interior of their properties, most rentals seem to be lacking curb appeal. Perhaps the generic look of rentals is meant to appeal to the highest number of potential tenants.
But, if you want your tenants to be comfortable in your home for the long haul, you need to make sure that you are maintaining the lawn, planting a nice garden, and keeping up with your exterior paint as it chips.
4. Be Reachable and Respond Quickly to Concerns
When you own a property, your tenants will eventually have to get in contact with you for things like a leaky pipe, or hot water heater replacement. When these calls come in, you need to be available to address the concern.
If you don't think you have the time to properly manage your property, you should consider hiring a service to do the job for you. No tenant wants to wait around for your response.
5. Allow Pets
Sixty-eight percent of United States households have dogs in them. That means that if your rental doesn't allow pets, you're shutting out more than half of the country.
While you may be concerned about the floors in your rental being scratched by a pet's paws, allowing pets at your property is the best way to ensure your home appeals to tenants and that they don't ever need to move out.
More Advice for Rental Owners
Now that you have read all this helpful advice for rental owners, you'll be able to hold onto your tenants for the long haul.
For more tips for property owners, check out our blog today.