While we’ve likely all heard stories about the “tenants from hell,” who tear up rental properties and cause hundreds (or thousands) of dollars in damages, it is possible that you currently have dream tenants in one or more of your residential rentals who pay their rent on time and keep the home in clean and pristine shape.
These are the tenants that most landlords and property owners would all love to have – and when they land in a house or apartment unit that you own, you do not want to let them go! So, how exactly can you accomplish that?
There are actually several strategies that you could use, and in turn, allow for a win-win scenario for both them and you. These can include doing one or more of the following:
- Offering a “discount” on the rent if they sign (or re-sign) a long-term lease
- Providing them with various conveniences, such as a dishwasher, washer and dryer, microwave, and/or updated refrigerator
- Adding covered parking (if space allows) such as a carport or other type of shelter to keep excessive sunlight, hail, and other potential damages from their vehicle(s)
- Updating or replacing the flooring and/or putting on a fresh coat of paint
- Adding various protective devices, such as hurricane shutters
- Being accessible and making it easy for tenants to contact you if they have an emergency, or even a question or suggestion
- Having regular communication with your tenants, even if it is to check in on a monthly or quarterly basis to see how they are doing
Even if you have landed the best tenants possible, managing and maintaining residential rental property can be a time-consuming endeavor. So, if you own units in Orlando and/or the Central Florida locale and you would like to know more about how a property management team can assist you, contact us today and we’ll be happy to provide you with more of the details.