If your tenants pay their rent on time, have good credit scores and are responsible then you probably want them to renew their tenancy agreement. Here are our top tips to help you secure a tenancy renewal while keeping your tenants happy.
Always be as fair as possible
It’s important that you find out how much other landlords in the area charge for their buy-to-let properties with similar features and specifications. If you’re asking for too much, your tenants are unlikely to renew their tenancy agreement. Always remember that rent increases should always stick to the local market rate and prior notice should always be given to your tenants, should you wish to increase the rent payments.
Be approachable and listen to your tenants’ needs
Building a good landlord/tenants relationship with is in both parties’ best interests. It’s important that your tenants feel you’re available so try to touch base with them fairly regularly. Your tenants also need to be able to contact you or your letting agent in the case of an emergency or if a repair is required. If a problem arises, you need to make sure it’s dealt with quickly.
Respond to questions and issues promptly
If your tenants contact you about an issue in your property, always try to respond to them on the same day, even if it’s just to acknowledge you have received their message and will get back to them as soon as possible. That way, they won’t think you’re ignoring them. Attending to repairs quickly is one of the key factors that will make your tenants want to renew their rental agreement.
Maintain the property well
If your rental property comes with good quality fixtures and fittings, then your tenants are more likely to want to stay. Consider even the smallest things you could do to your property in order to make it more appealing and aesthetically pleasing. You should also consider scheduling routine maintenance with your tenants to show them that you are willing to keep the property in a good condition. Always remember that you need to give at least a 24-hour notice to your tenants before entering the property.
Refresh the home décor
Do the bathroom and kitchen look dated and tired? Are the carpets a little threadbare? Small changes such as adding a fresh coat of paint or upgrading the kitchen appliances can make a big difference to the look and feel of your property. Your tenants will notice your efforts and appreciate them. This can also increase your chances of getting your tenants to renew their tenancy agreement.
Do you need help managing your property? Our property management services will give you peace of mind and relieve you of the commitment of being a full-time landlord. Whether you have a single property to let or a portfolio, we are here to provide you with the first class service you deserve – call our team today on 020 7078 0214, or email email@example.com to find out more.