In a perfect world, your properties would be filled with dream tenants. The ones who pay on time, sometimes even in advance. The ones who give you very little trouble and keep their space clean and visually appealing. The dream tenants are the ones you want to occupy your space for as long as possible.
You may even be thinking of a few of those types of tenants right now, but inevitably, you have or have had, the nightmare tenants. Those who refuse to pay, destroy your property, give you pushback about any structural updates or changes, or those who simply are unpleasant to deal with.
The thing is if you truly want to make every tenant, a “dream tenant,” some of that work starts with you.
What are you doing to attract the type of renters you want?
Here are 4 things to consider when trying to attract quality, long-term tenants.
Be a Flexible Landlord, When Reasonable
Whether you’re scheduling a showing of your property or maintenance, it is important that you demonstrate flexibility. The key here is not to look like a pushover, but rather someone who is reasonably understanding of life’s circumstances. A future tenant could be late to a showing due to unforeseen events, or a current tenant could have a major event coming up that maintenance would disrupt.
You may think that tenants who can afford your space and who pay on time would not need flexibility, however, what this can show them is that they have a landlord to whom they can be loyal.
Be a Warm and Welcoming Landlord
Whether it is commercial or residential property, quality, long-term tenants expect a certain level of interpersonal camaraderie with their landlord.
High-quality tenants also typically expect touches that show you care. Offering a fresh coat of paint before a tenant moves in, doing basic maintenance, having a welcome package that details information about the house, office space, etc., demonstrates that not only are you happy to collect their first, last and deposit--but that you are happy to have this specific person occupy your space.
Again, this creates a sense of loyalty, and trustworthiness between you and your tenant. This helps establish a sense of knowing that they can expect their landlord (you) to take care of their needs.
Be a Landlord Who Values Safety and Upkeep
While it may be the responsibility of your tenant to maintain the proper care and upkeep of their living or office space, it is important that you demonstrate that you value the upkeep of your property as well. By making sure the outside of your property is not only well maintained (i.e. pressure washed, manicured lawn, plants in the lobby, clean conference space with nice chairs, etc.), but also safe (secure entry/exits, cameras, alarm system, etc.), you demonstrate to your future tenants that you take pride in your property.
These actions signal that you take the management of your property seriously, and treat this as a business, who is professional and cares about their customers (in this case, your tenants). You will attract high quality, long-term tenants by going through the process of ensuring your property not only has “curb appeal,” but is also safe.
Be a Knowledgeable Landlord
Not knowing basic information about your property (i.e square footage, maintenance questions, etc.) does not inspire quality tenants to lease with you, let alone lease long-term. We’re not saying you need to memorize all of the details of your property, you may have many, but we do suggest having a printed handout with information and a Q&A. This will help you answer any questions, it makes you look prepared, and is another action you can take to establish trustworthiness and loyalty.
Whether you’re a new landlord, or you’ve been in the game for many years, it is important to do what you can to establish a quality reputation. Quality attracts quality, and keeping the four things detailed in this post in mind, will help you find the quality long-term tenants you seek.
If you are a property owner for multiple residential locations, you may find yourself dealing with tenant disputes more often than you like. For more information on how to evict your tenants, contact our office at info@theonyxgrouplegal.com. Our experienced team knows how to settle landlord-tenant disputes efficiently, allowing our clients to manage their residential properties and get paid, without disruption.