How to Keep a Good Tenant
Good tenants are a good asset for all the rental property owners. Like any other kind of a business, one wants to have their property occupied all the time. When you lose a tenant, it means that your property will sit idle and that will mean that you will lose money. For the property owners who need good tenants in Bergenfield county in Bergen County, there are a number of things that they can do to retain good tenants. When you follow these tips, you can be assured that you will retain your tenants and rip the benefits that come with it. Here are the things you need to know and keep in mind:
- Don’t set a very high rental fee
While we all want our property to recoup our initial cost in the shortest time possible, it may be detrimental to set very high rents to your tenants. Setting your property rents too high will make most of your tenants stay for a short period of time. You will definitely lose money the moment they vacate your property. You cannot afford to lose money through vacant property. Good tenants will stay as long as the rent is reasonable for them to pay in the long run.
It is also a good idea not to set the rents too low. As a property owner, you could be tempted to undercut the market by lowering your rents so that you can get more tenants. This could be dangerous in the long run in that you will find it difficult to raise the rental fees to the market rates. You see, your tenants will simply flee once you make the adjustment to the higher market rates.
- Ensure your property is always well maintained
It is true that tenants want to stay in a clean environment and in property that is well maintained. It is expensive to keep your property adequately maintained without the need for you to raise the rental fees. However, when you keep your property free of wear and tear, you can be assured that your tenants will be happy.
Rental markets in places such as Bayonne and Guttenberg in Hudson country may be tight. This is the case in most parts of the country. However, this does not mean that you should underestimate the tenants’ need for quality housing and properties that are well kept and maintained.
When you keep your property in good condition all the times, it is possible for your tenants to keep the same property in good condition too. They will simply reciprocate the good gesture that you will show them by keeping the property in the best condition possible.
- Your property manager should be friendly and easy on tenants
Many property owners are not aware of the roles their property managers play in bringing in good tenants and keeping them. How the manager relates with the tenants will determine how long they will stay in your property.
If you are in a good relationship with your manager, you can be sure that the manager will take good care of your tenants.