How do you keep your tenants longer?
The longer your tenants stay, the less it is going to cost you in the long term. You save money each time you don’t have to go through the process getting the property ready to rent, screening and picking tenants, and the time spent vacant before getting a new tenant in the property.
A clear, concise and agreeable rental agreement is key
Building a great relationship with your tenant can be easier said than done, but a rental agreement that is clear, concise, and agreeable between both parties starts out that relationship on the right foot.
The rental agreement should spell out exactly who does what and who’s responsible for what when it comes to the property. For example, make sure the tenant knows what is and is not an acceptable acceptable phone call to you for maintenance repair. If you have a yard, make clear who is responsible for maintaining the yard. Setting clear expectations up front leaves little room for questions and concerns later on down the road.
Hopefully that tenant will stay longer, you won’t have to release the property, and your cash flow continues coming in on a regular basis.
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