A satisfied customer will always keep coming back. One might think that this is only limited to sales, however, the same analogy applies in the real estate industry, too.
To get optimal returns and sustainability on a rental property, making your tenants happy and satisfied is a guaranteed solution in retaining long-term tenants.
Property owners agree that having a high turnover rate in occupancy can cost money and can be tricky, especially when your space is vacant for a period of time, which can rake up costs for utilities, cleaning, repairs, and advertising, which only adds up the longer your rental property is left unoccupied.
While landowners are too busy overseeing day-to-day operations, they can sometimes neglect attending to the concerns of their tenants which can also be a reason for them to look for another place to rent.
Actually, there’s not really much that landlords can do to make their tenants happy and you might be surprised that it takes only some practical and common sense to ensure their stay longer.
Visual appeal is always a winner, especially when you want your tenants to feel good, welcome, and happy, whether it’s a residential or office property.
A clean façade, well-kept garden, clean walkways and passages, clean living and lounging facilities, and interior décor are well-accepted aesthetics that all tenants or clients are looking forward to.
Be consistent in having a well-kept and visually-presentable property, so that your tenants are able to rest and relax easily after a long and stressful day at work.
Make sure to always check the premises and find out any cosmetic issues that may require fixing or need an upgrade.
Aesthetics are factors that make tenants decide whether they should stay or look for another place to rent.
When tenants see their living spaces as their comfort zones, then you can be sure that they would not think twice about moving. These comfort zones are always associated with comfortable living spaces, where they feel they can have privacy, solitude and be able to have rest and relaxation.
When people feel accommodated and experience a respite from stress, they establish a sense of trust and this is what you can leverage on to make them stay longer.
Sense of urgency in addressing concerns or attending to requests are trust-earning traits for a responsible landlord or property manager. One of the biggest complaints of unsatisfied tenants is the poor or delayed action on maintenance requests by landlords or property managers, especially on matters that could affect a tenant’s ability to experience the comfort and enjoy their home.
In Victoria, legislative reforms are in place to grant tenants rights to care for pets unless the property owner secures a special order from VCAT for valid reasons. While these reforms are still not in effect until 2020, making your rental property pet-friendly to appeal to responsible pet-owners looking to rent for a place to stay.
You can start by setting up the property for pet-friendly structures and fixtures such as secure fencing, or pet doors on entrances. Adding the extra effort to provide other facilities that can encourage tenants to care for pets can be a very positive move to help them consider renting on your property.