Five tips for keeping tenants
Landlords know that it’s always better to have tenants in your property. Every time you have to source a new tenant, you will incur costs compared to having a long-term tenant – not to mention the income you will lose during void periods. If your tenants are not renewing their lease, there are some steps you can take to address the issue.
When you receive notice, ask tenants why they are leaving. You might find out there is a problem that is easily fixed, or a feature of the property that is not desirable in the long term. A standard questionnaire at the end of a tenancy is a good way to stay informed.
Consider the contact you have had with the tenant. If tenants are always complaining about the same issues, have you gotten back to them promptly and responded in a professional manner?
Check your property thoroughly. Not all tenants will complain, so it’s worth performing a careful property inspection and fixing any issues promptly.
Are your rules too restrictive? If you don’t allow pets, children or even let the tenants redecorate, you might want to reconsider.
With the new Private Residential Tenancy Agreement it is no longer possible to create a fixed-term lease, as such, receiving feedback and being in-the-know about your property will only benefit attracting longer term tenants in the future.
For guidance preparing your property for let or tenancy renewals, give our experienced Lettings Team a call today.