Each landlord will have an idea on what is best for their business, and how they should manage the relationship with their tenants. It is easy to see why some landlords are keen for tenants to remain in place for a lengthy period of time. If you want to learn how to attract long-term tenants, we are on hand to assist you.

When you have long-term tenants in place, you are less concerned about void periods. Given that void periods see you generate no rental income, you can see why most landlords are keen to avoid these periods. If a tenant is happy, and content to stay long-term, you remove this risk, and you remove costs of the letting process.

Every time you need to let property, you have listing costs, you will have vetting costs and you have work to take care of. When you don’t need to let your property, you don’t need to cover these costs. Therefore, it is clear many landlords prefer to let to tenants over a longer period of time.

Are you letting at the right value?

It is important to generate enough rental income for yourself, but you also need to think about value for money for tenants. If a tenant feels they are paying too much money for the rental property, they won’t want to stick around for too long. Therefore, if your primary focus is on letting to tenants in the long-term, there is a great deal to be said for setting the property at a fair price, which offers some value to tenants.

Similarly, when the time comes to make rental adjustments, make sure you make fair increases. Most tenants accept that rents will rise, alongside all other costs, but you must ensure these increases represent value for the tenant.

Play your part in maintaining the rental property

The tenant has a part to play in maintaining the condition of rental property, but so does the landlord. If a tenant raises a complaint or an issue, make sure you respond quickly, and carry out repairs.

If a tenant feels as though they are being listened to and respected, they will be happy in the rental property. Also, if a tenant sees the landlord is proactive in caring for the property, they will be far more likely to maintain the property, and feel comfortable in the rental accommodation.

There is also a benefit in maintaining the condition of rental property in pleasing tenants and ensuring the property continues to look good. If the rental property remains appealing, tenants will want to stay. This outcome makes your job a lot easier, which is always of benefit to landlords.

Try to develop a good relationship

You don’t need to be best friends with your tenant, but if you develop a good relationship, they will be more likely to stay in the property.

If you are a landlord looking for help in maintaining rental property, we can assist you. We offer a property valuation service, and we are on hand to assist you with any letting requirement you have. Contact Andrew Lees today.