As a landlord, one of your biggest concerns is ensuring that your property is well-maintained by your thoroughly vetted tenants. This can help you avoid costly repairs and ensure that your investment is protected. However, even with a rigorous screening in place, getting tenants to take care of your property can be a challenge, especially if they don't feel a sense of ownership or are not invested in the space. In this blog post, we'll share some tips we gathered from our own experiences to help you encourage your tenants to take care of your property in 2023.
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Tip 1: Allow Personalisation
When tenants can personalise the space, they are more likely to view it as their own and take care of it accordingly.
One way to encourage tenants to take care of your property is to allow them to personalise the space. This can include allowing tenants to choose their furniture or rearrange the layout of the space. When tenants can personalise the space, they are more likely to view it as their own and take care of it accordingly. However, it's important to have an agreement in place that the property will be returned to its original state at the end of the tenancy.
PRO TIP: Keep pictures, videos, floor plans and layouts that can be used as references by both parties to prevent misunderstandings and inconveniences.
Tip 2: Provide Incentives
Consider offering incentives to tenants who take good care of your property, such as small gifts during the holidays or discounts on rent. Personalised gifts can be particularly meaningful and can help foster a positive relationship between you and your tenant, especially if your property is being managed by a letting agent. By rewarding tenants who keep your property in good condition, you'll encourage them to continue doing so and show that you care for your tenants and their living experience.
PRO TIP: Price your rent slightly below the market rate. When tenants feel like they're getting a good deal, they're more likely to stay and take better care of the property so as to not mess up the good deal that they have. This strategy will result in less turnover, fewer void periods, well-maintained property, and a long reliable tenancy.
Tip 3: Provide Resources
Providing resources can also help tenants take care of your property. This could include basic equipment for maintenance tasks such as a vacuum cleaner, cleaning supplies, or common tools. You could also provide resources such as a list of recommended contractors for repairs or maintenance tasks that are outside the scope of what tenants can do themselves. By providing these resources, you make it easier for tenants to take care of your property and keep it in good condition.
Tip 4: Make the Home Energy Efficient
The rising cost of utilities has become a major concern for both landlords and tenants in recent years. There are several factors contributing to the increase in utility costs, including inflation, population growth, and the shift towards renewable energy sources. As a result, tenants are now more aware of their utility usage and costs than ever before. In 2023, energy efficiency has become a top priority for many tenants who are interested in reducing their carbon footprint and saving money on utility bills. By making your property more energy efficient, you can attract these tenants and provide them with a valuable selling point.
PRO TIP: Higher EPC rating demands higher rent so you can combine this with the first tip of renting out for below market rate to get acceptable returns while also attracting and retaining the best tenants.
Taking care of your property is a joint effort between you and your tenants. By following these tips and providing resources, you can encourage your tenants to take care of your property in 2023 and beyond. Remember that when tenants feel invested in the space and are rewarded for their efforts, they are more likely to take care of your property and keep it in good condition.
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Property Store is a comprehensive software solution designed specifically by landlords for landlords. It offers a range of features to help you manage your properties and tenants more efficiently, including rent collection, maintenance requests, tenant communication, and more. With Property Store, you can easily keep track of important information about your properties, such as lease agreements, tenant information, and maintenance records. The software also includes a maintenance hub, which allows you to easily schedule and track repairs and maintenance tasks. Overall, Property Store is a powerful tool that can help you save time, reduce stress, and streamline your operations.