5 Tips On How to Keep Your Buy-to-Let Tenants Happy
When you find the right buy-to-let property, it can be an exciting time. If this is your first time renting out, you might know what tenants are looking for but it can be difficult to know exactly what is required to keep your tenants happy. As a general rule of thumb, the best thing you can do is to put yourself in their position and think about what would make you happy.
So without further ado, here are our top 5 tips on how to keep your tenants happy in your buy-to-let property.
Ensure you keep all paperwork in order
This is one of the most important tips and should be in the back of your mind throughout the entire process. Half-completed or missing paperwork can put you in a bad position as a landlord. Aside from looking unprofessional, it can hinder agreements completely. Remember, it’s always better to have too much paperwork than too little.
Maintain the property beforehand
One of the best ways to ensure a good tenant experience is to ensure that the property is in good shape before they move in. Look at performing any touch-ups to a point where you’d be happy to live there yourself. If a property is in a good state before the tenants move in, they’ll be more motivated to maintain that state and it’s more likely it’ll stay that way.
Always keep communication with the tenant
Everyone knows that sometimes things can go wrong with a property. What matters is how you deal with it. If you arrange to help fix any issues or at least relay information regarding the fixes, you’ll build much more goodwill with your tenants. If you’re worried about the state of the property, it can also be a great idea to hold inspections, although by law you need to give your tenant 24 hours notice. Just remember that regular inspections can put tenants under pressure. If you tenant is keeping the property maintained, try not to be too overbearing.
Always be as fair as possible
A key factor in keeping tenants is being fair. When it comes to adjusting rent and re-decorating, always try to be as fair as possible for tenants. Rent increases should stick to the local market rate and prior notice should always be given. In a survey by Endsleigh, a big consideration for tenant happiness was answering redecorating requests. By helping with maintenance or allowing some redecoration, many landlords found they had a much happier tenant.
Stay up-to-date with legislation
As a landlord, it’s important to make sure you’re in the know when it comes to any changes in buy-to-let legislation, as well as general health and safety legislation. Tenants are becoming proactive and doing their own research, which means it is increasingly important that you know just as much if not more. It is always advised that you talk to an expert when discussing legislation changes and how that can affect you.
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