Did your last tenants trash your property? Are you struggling to keep good tenants for more than a year? Are you nervous about filling an upcoming vacancy? Don’t worry, you’re not alone, and there are ways to fix your problems without dipping into your retirement funds. We’re here with a few tips to help get the tenants you want and keep them long-term.
- Create a New Tenant Criteria
Before you create a listing, you should think about the kind of tenant you want. Are they non-smokers? Do they have a certain credit score or income? Do they have any pets? This will help you craft your listing and streamline the screening process. Keep your qualifications reasonable—an upscale apartment in an attractive neighborhood will have more asking power than a small duplex in an up-and-coming area.
- Advertise Effectively
Sure, you’ve probably posted on Craigslist and Zillow, but are you just posting information or are you marketing to prospective tenants? Use a hook that would draw in your desired tenants; if you have a studio, describe it as spacious and efficient, not small.
Make sure the listing is not only descriptive and informative, but also clear and concise. Make sure your photos are thorough, clear, and angled well (consider a professional photographer). Finally, sell yourself. Make it clear to tenants that you’re a good landlord. Make them aware of your maintenance policy, and display your contact information prominently or include a contact form.
- Renovate
Take advantage of a small gap in tenancy by making a few upgrades. Upgrading hardware like door handles, cabinet handles, and drawer pulls is a great DIY project. Installing new lighting fixtures and kitchen or bathroom faucets can be inexpensive and effective. Do all of your upgrades all at once to create a uniformly designed modern apartment home rather than a mismatched combination of bronzes, chromes, and wood décor that seems haphazardly put together over the years.
- Keep up with Repairs and Maintenance
Nothing can create a negative tenant-landlord relationship like slow repairs. While no one expects you to jump out of bed at 2 a.m. to fix a leaky sink, emergencies should be addressed immediately and even small repairs should be fixed in short order. Remember, word of mouth travels fast, and one bad review can scare off future tenants.
