Tags – How To Secure Long Term Tenants
Did you know, in 2017, over 36% of homes were rented in the US alone? And that number is only rising.
In effect, the worldwide economy is continuously shifting towards renting, rather than buying accommodation.
On the positive side, this brings excellent news for landlords; as more and more tenants are looking to lay solid roots in rented accommodation for years to come.
Simply, these types of tenants are incredibly desirable for landlords as they present a more secure income.
Plus, they negate the hassle that comes with finding new tenants, as often, they take better care of your property because they see it as their home.
So, in this post, we’re discussing our top tips landlords can use to help them find long-term tenants.
Make Your Desires Clear In The Contract
A good way to attract longer-term tenants is to be very clear from the get-go.
Therefore, express that you’re looking for residents that want to go the distance.
In fact, the easiest way to ensure this is to present a longer minimum-stay in your tenancy contract.
While this may ward off potentially interested parties, you’re more likely to narrow down on tenants looking for longer-term living situations.
Let Tenants Make Their Mark
One of the greatest reasons for dissatisfaction with long-term renting is that tenants can’t personalize their homes as much as they would like.
Of course, with short-term tenants, landlords are understandably hesitant to allow many changes as they may risk their chance of securing their next batch of tenants.
However, if you’re hoping to attract people for the long-term, bite the bullet and give them a little more freedom.
Instead of huge DIY projects, you could encourage smaller creative freedoms like hanging easy to remove curtains, picture hooks, storage and shelving.
Perhaps you could allow them to repaint the walls?
Ultimately, having to repaint a property at the end of a long-term tenancy is still cheaper than constantly having to secure new tenants at the end of short-term tenancy agreements.
Keep The Garden Simple
Gardens might be attractive for some tenants.
Still, on the whole, many don’t have the time to maintain an elaborate garden or yard.
Simply, keep the garden low-maintenance and straightforward.
This goes a long way to charming even the busiest tenants who can’t commit to upkeep an elaborate garden.
Consider Accepting Pets and Children
Suppose you’re not willing to agree to either of these things, you could be turning away a very respectable young family or couple.
Attracting long-term tenants all comes down to creating a liveable and comfortable environment that appeals to the desires of those looking for a home for the long haul.
Often, this means relinquishing some of the restrictions you usually place on short-term tenants.
Most notably, allowing residents to house pets in your property and granting some creative freedom when it comes to decorating the place.
To learn more, get in touch with us today.
In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.
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