Secrets to Keeping Wakefield Renter Happier to Avoid Evictions

In today's competitive rental housing market, it can be challenging to keep good tenants. However, a Wakefield property management company has a few suggestions about hanging on to residents longer and avoiding a lengthy and costly eviction process. 

In this blog, we will cover some tips for helping you become a successful landlord by keeping your current residents happy, paying their rent on time, and asking to renew their lease agreement.

Why Avoid the Eviction Process?

What does it cost to evict a tenant? It's not a simple question to answer. However, after serving an eviction notice, court costs and legal fees could make eviction cost equal several hundred to several thousand dollars, depending on the situation. 

How long does it take to evict a tenant? The eviction process actually could take several weeks, which means the rental property is tied up with no rental income. 

With costs and timing in mind, what's the best bet? Property managers recommend avoiding the eviction process—but how? 

It All Starts With a Good Relationship

Successfully managing rental properties starts with having a good relationship with residents. To start this relationship off on the right foot, it's essential to be professional and friendly by setting clear expectations. However, if you're not sure how to build good landlord-tenant relationships, a Wakefield property management team can provide valuable insight!

Practice Effective Communication

When you have good communication skills, it's easy to keep your tenant happy by finding out what they need or want before it becomes an issue. It might seem like a small thing, but being thoughtful about what your renter needs can go a long way towards avoiding eviction! 

Effective communication also helps build trust between property owners and residents, which is essential for maintaining respectful relationships that last over time. 

Maintain the Rental Property Quickly and Efficiently 

One of the best ways to keep your tenants happy is to maintain your property and respond to repair and maintenance requests as soon as possible. If renters have a problem with something that isn't taken care of in a timely manner, your renters could feel like they don't matter.

Resolving maintenance issues right away to keep renters happy is one of the main reasons rental property owners chose to have a property management company by their side!

Renovate the Property When Appropriate

Renovating your rental properties is vital to keep up with the current rental market. The best renters want modern amenities and a clean and safe area to live and work. 

Updates to the rental property will help keep current residents happy. However, before tackling a property upgrade, it's a good idea to check with a Boston property management company about the right type of renovations, so you don't waste money on costly renovations that don't increase your ROI.

Raise the Rents the Right Way

Sometimes landlords need to raise the rent for their rental properties. Reasons for increasing the rent can vary. However, there are some basic guidelines about how you should go about it.

1. Don't increase the rent too much. Be careful about raising rents too drastically, or you could encourage your renter to leave and find another place to live.
2. When increasing the rent, give plenty of notice. Giving notice well in advance of when the tenants need to move out or sign a new lease gives them time to plan their finances accordingly. 

A property management company can work with owners to determine the right amount of rent for your Boston rental property. 

Offer Incentives to Existing Boston Residents

If you want your long-term renters to renew their leases, offer incentives for staying put! For example, offer a discount on one month's rent if they sign up for another year. You can also offer discounts on tenant fees like late payment penalties and pet deposits. Make your property desirable for existing residents without having to spend money advertising it to outside candidates.

Be Flexible 

Boston residential property owners may benefit from flexible policies, such as allowing pets! More than ever before, many families are adding furry family members to their lives. Allowing pets brings several added benefits for Boston property owners, including:

• A larger pool of potential renters since 67 percent of American homes have a pet. 
• Renters stay longer because once they find a pet-friendly landlord, they are more likely to renew their lease. 
• Property owners can make more money through pet deposits and monthly pet fees. 

If you decide to allow pets in your rental properties, make sure to include a pet clause in the lease agreement so that residents understand the rules regarding their animals. 

Hire a Wakefield Property Management Company to Keep Your Residents Coming Back

What's another thing Boston rental property investors can do to ensure they have happy residents? The answer is simple: hire a professional management company! CHARLESGATE Property Management specializes in all aspects of residential property management services, from screening prospective renters to making repairs as needed and dealing with evictions if needed. Reach out soon to learn how we help good tenants stay longer with our resident-focused approach to property management.