How to beat the competition

July 2013

How to keep tenants long term

Two of my 5 year plus tenants have moved in the last year, thus the thought,
was it skill or luck to keep them that long.

Some luck, you cannot always tell, or will be told, or they simply don’t know
their long term intentions.

Skill, I think plays a large part.
Present a warm, private, renovated property
Treat tenants firmly but fairly and with respect.
Give tenants their privacy i.e don’t come onto the property unannounced,
Or do a property inspection or maintenance while they are sleeping after a night shift (I hear this complaint so often from the medical profession).
Do section maintenance once a year, you can’t expect tenants to prune trees or hedges and it shows you take pride in your property and they will in return.
Attend to house maintenance issues promptly.

It sounds simple but time after time when I have purchased a run down but sound house I get told that tenants keep moving, they are tired of the hassle of being a landlord and just want the house sold.
It can simply be a lack of maintenance, painting or money spent in the wrong place
e.g. $3000 on a HRV system for a mouldy smelling house that couldn’t keep tenants. The problem was a leaking shower head with black mould growing on the inside of the bathroom jib. Fixed for $500 and the new tenants are now into their 3rd year.

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