In many ways, keeping a great tenant is just as important as finding a great tenant. When you rent to long term tenants in Modesto, CA, you’re getting steady rental income, avoiding turnover expenses, and ensuring that your property is valued and maintained. There are some specific things you can do to make sure your exceptional tenants continue to call your property “home.”
Keep Up with Maintenance
Make your property attractive to long term tenants by providing a home that is safe, clean, and functional. You want it to look outstanding so that high-quality tenants find it appealing. Once you have your tenants in place, be responsive when it comes to maintenance requests. Put together a preventative maintenance schedule and take care of repair issues promptly.
Your screening process should be thorough and rigorous enough to ensure you’re getting the best tenants in place from the beginning. Take a look at credit history, employment history, and previous rental references. You don’t want to rent to tenants who have evictions, change jobs every month, and engage in criminal behavior. Tenants tend to live according to patterns, and if you find someone with a history of staying in one place for several years and acting responsibly with finances and properties,
you’re probably going to have good shot at turning that renter into a long term tenant.
Price Your Home Competitively
Take a close look at the local market and price your rental home according to what the market will bear. Be strategic about raising your rent, especially if you have tenants you like in place. You don’t want to give them reason to leave by raising the rent 10 percent every year. If you can gather data on what similar properties are renting for, you’ll be able to decide whether it’s appropriate and fair to raise the rent. Just don’t be unreasonable in what you charge, or you’ll find yourself with a vacancy.
Property Management Services
One of the best ways to hold onto a great tenant is by working with a professional management company. Property managers know how to identify outstanding tenants, respond to their needs, and maintain a respectful relationship. They can handle maintenance issues right away, conduct inspections when necessary, and help with putting a lease in place and pricing your property correctly.
Keep your great tenants with these tips, and if you have any questions, contact Valley Oak Property Management.