1) See to repairs promptly. If repairs are needed make sure they are carried out quickly – happy tenants stay longer. If you treat small problems as seriously as big ones your tenant will feel valued. A good managing agent can help take away the hassle and deal with these things for you
2) Keep the rent reasonable. In the current financial climate it makes sense not to rock the boat too much by putting up the rent. If you are happy with your tenants and they are reliable payers then keeping the rent the same could pay dividends long term
3) Find Out Why? If your tenant is thinking about moving out, try to find out why. If they want a bigger or smaller place you might be able to offer them something from your portfolio, or if they are struggling to afford the rent it might be worth working out a short term solution by offering a temporary reduction in rent – it could be cheaper than having a property sitting empty for a couple of months!
4) Redecorate. Keep your property fresh and attractive by redecorating every couple of years – or better still allow your tenant to do it for you!
5) Renew your tenancies. By renewing your tenancy after the initial fixed term period you give yourself the benefit of a committed tenant
6) Reward committed tenants. Reward committed tenants who have been loyal and reliable for years. Some landlords give their tenants Christmas presents or treats such as flowers, vouchers or even meals out.
7) Go the extra mile. As a landlord it is your duty to know your legal obligations on a whole range of areas – but going the extra mile helps a good tenant feel valued. Installing Carbon Monoxide detectors or window locks although not always legally required help to make a tenant feel cared for and safe.
8) Be highly visible. When tenants do leave your property (even following these tips you will find your property becomes empty sometimes) make sure you use an agent that will get your property seen. Make sure they advertise on www.rightmove.co.uk & www.zoopla.co.uk as an absolute minimum.
9) Get the picture. When your agent advertises it is essential these days they use lots of pictures. Research shows that a property advertised with photographs generally receives three and a half times as much interest as one with out any.
Might sound silly but treating others the way you would like to be treated yourself is generally a good maxim for life and it holds true in the rental market.