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Evictions are every landlord's nightmare, as these legal proceedings are costly and time-consuming. And in Austin, they're at an all-time high.
So, as an Austin landlord, you must find tenants who can pay their rent on time and do their part in caring for your property.
Then, once you find excellent tenants, you must do everything you can to keep them happy. This makes them more likely to renew their lease and stay in your investment property.
Not sure how? Then read on, as we've shared tips to help you turn your tenants into long-term renters!
Proactive Property Inspections and Maintenance
In Texas, tenants can demand landlords to fix health and safety hazards in their rental property. They can ask a justice court to help them obtain a repair order. Justices of the peace can then order landlords to conduct the repairs.
Don't wait for that to happen because, at that point, you'll unlikely get your tenants to renew their lease.
Instead, take a proactive approach to property inspections and maintenance. Coordinate with your tenants and set quarterly, if not monthly, schedules. This way, you can prevent and catch health and safety issues (e.g., pests, leaky taps, or HVAC woes) before they worsen.
Address urgent maintenance requests or repairs from tenants, too. You should reply within 24 hours to acknowledge you've received their message. Then, assure them you'll attend to their needs immediately.
Make Tenants Feel at Home
You may be the investment property owner, but your tenants live in it, not you, so they must be able to consider it their home. And one way to make them feel this way is to provide the amenities most important to their lifestyle.
Suppose you rent out to families with children who bike to school. They'll likely appreciate it if you provide secure bike racks. Giving them free internet access is another incentive they'll surely love.
Permitting custom but minor home improvements is also vital in retaining tenants. However, ensure they always ask for your permission before they do any of these. Put this in the lease agreement and require them to restore any changes made if they move out.
Consider Adopting a Pet-Friendly Policy
Another great way to make tenants more likely to stay is to allow them to have pets in your rental property. Not all landlords let their renters do this, so if you do, that gives you an advantage. Renters also know it's hard to find pet-friendly rentals, so once they find one, they'll likely want to stay in the long run.
Letting them have pets can also enhance tenant experience and make them feel more at home. After all, most American pet owners (a whopping 97%!) consider pets family members.
Maximize Your Investment Property With Long-Term Tenants
From proactive property maintenance to making them feel more at home, these are just some ways to make tenants happy. And the more satisfied they are, the more likely they'll want to stay in your investment property.
If you'd like a professional take on managing tenants, PMI Austin Experts is here to help. Our company specializes in high-quality, full-service property management services in Austin, TX.
Schedule a consultation with our team today. We look forward to discussing how we can make managing your property manageable!
