LLC and Rental Properties

To keep the best tenants, you need to think like a tenant.

Think about the factors that would, if you were a tenant, make you think twice about renewing a lease. It’s always worth your while to make the necessary effort to keep the best tenants. Tenants aren’t going to stay just because it’s convenient for them. Far from it, they’re going to leave – and leave quickly – if they discover that the place they call home becomes a permanent source of stress.

As the leading property management company in Las Vegas, Triumph understands what it takes to keep the best tenants. Below, we’re going to review five of the top reasons – highlighting the factors you, as a landlord, need to consider before underestimating your tenant.

1) No consideration

Quality tenants not only take care of the property to a very high standard, but they’re also good to other tenants and to neighboring tenants.

They’re a worthwhile investment. By not giving them due consideration – for example, when they issue a complaint but find their complaint is either ignored or delayed – it’s only going to alienate the tenant further. This is a bad start. It’s something that lurks its way through each month of the tenancy agreement. Avoid it at all costs.

2) Parking

Tenants often come with cars, and those cars clearly need to be parked.

Quality tenants don’t want their parking space occupied by other people. After a stressful day at work, the last thing a tenant needs to see is their parking space occupied. This can become a particular drain if it happens time and time again. Landlords should make the extra effort to define the use of their parking space.

It should be obvious to outside users that this parking space is for your tenant and your tenant only.

3) Impaired repairing

Good tenants look after their property, and, in response, they expect landlords to look after them.

This may mean hiring a property management company; a firm whose raison d’etre is to manage the property from top to bottom – including maintenance. Landlords should hire only the very best management firm that deals with maintenance issues on the spot.

While it’s possible to maintain the property yourself, landlords often find this an expensive and cumbersome and stressful affair. By investing in a property management company, it relieves you of this burden while answering to the many maintenance queries your quality tenant is likely to have.

4) Safety

Good tenants care about safety. They are, after all, planning to live in that rental property for a substantial period of time.

Landlords should eliminate these concerns from the very outset. They should reassure good tenants as to the safety of the location, how safety has never been a problem – even if the surrounding area appears as if it could do with resuscitation.

Good tenants are unlikely to remain in seemingly dodgy locations. It’s not good for morale and it’s even worse for tenant longevity and rental expectations. Reassure the tenant from the very outset and deal with any concerns they have. Be honest about the locality, both its advantages and disadvantages, as this tells the tenant that you’re an honest landlord who takes their tenancy serious.

Final thoughts

Good tenants aren’t always easy to find, which is why landlords should do their very best to keep them on board.

Good tenants want excellent service, a safe location, and a landlord who’s willing to listen to their demands. They want to be appreciated, while also wanting to be treated with respect. They don’t want unnecessary surprises or neighbors who aren’t as respectful as they are.

By following these steps, you go four steps forward toward retaining that quality tenant.