The dream of every property owner is to see their good tenants stay at their premises and resign their leases for as long as possible. Such tenants pay their rent on time and are great neighbors, so you will never hear a complaint against them. However, does this always happen?
The truth is that this depends on, most significantly, how good the place they are leasing is. Such clients may refuse to resign their lease because they must relocate due to work or school.
For property owners who want their tenants to stay around their premises forever, then you have to give them a reason to want to stay here. This blog discusses why good tenants will stay and resign their leases. Let’s get started!
7 Reasons Why Good Tenants Stay and Resign Their Lease
They Can Afford the Unit
If the tenant can afford rent at your place, they will see no need to move in the long run. You might have excellent tenants, but after the price of the house hikes, then they make a U-turn on their lease.
While it’s okay to try to keep up with the market prices, a client, no matter how good they are, might think twice about renewing their lease if they feel they can no longer afford it.
The Units Remain in the Top Shape
Good tenants will want to stay and resign their lease if they are getting value for their money. As a property owner, keep your units up to date. Remember what initially attracted the client to the place, so ensuring that you keep it as good as new will motivate them to keep resigning their lease.
Cooperative Landlords When Issues Arise
According to the American Apartment Owners Association, a quick way to lose great tenants is by not responding to their concerns promptly. Problems in a rental property are unavoidable. However, you need to know how best to handle these issues. Respond swiftly when they arise because this makes the tenant feel you care about them and are ready to solve their problems. A well-cared-for tenant will want to renew their lease at the end of the lease period.
Peaceful Environment
Everyone will want to settle where there is peace. There may be bad neighbors on your property; if your good tenant makes a complaint against them, consider looking into it. Such can give them a good reason to renew or fail to resign their lease.
Professional Property Managers
The availability of well-versed property managers might give tenants a reason to want to stay in the property for as long as possible. Ensure that your property managers are helpful and professional so the tenants feel their concerns are always considered.
Proactive with Lease Renewals
Good clients will want to stay and resign their lease when you are proactive with the process. It would help if you did not let them keep guessing whether or not you want to renew their lease. Failure to communicate confuses them and may force them to look for other places to live.
Reasonable Rules
If you have reasonable rules around your rental unit, then tenants will have no doubt but to resign their lease as often as possible. When setting the rules for your rental property, put yourself in the tenants’ shoes and make sure that the rules you make will make them feel at home.
Jennette Properties is a professional real estate company that delivers exceptional property management services in Sarasota, Bradenton, Anna Maria Island, Longboat Key, Lakewood Ranch, and Venice. With us, you can be sure that your property is in safe hands. Call us today to discuss handling your property so your guests feel safe while protecting your investment.
