Goal: Keep Long Term Tenants Who Pay Their Rent
To accomplish this goal, keep them happy. Here are some ways to consider doing that:
Make it easy to pay rent. There are online services that allow renters to pay through a web portal - often this will add the fee to the renter’s side of the transaction. Here are some options, but there are many out there for you to look into:
Consider allowing a reasonable amount of pets - especially in Colorado where many folks own dogs or cats. It is a very important component for them choosing a place to live.
If possible, add bathrooms. Renters will prefer a place with a bathroom per room rather than shared.
COMMUNICATION - Most problems stem from poor communication. If you’re trying to set someone up for a repair for instance, communicate the timeline so that they aren’t left wondering.
Consider offing a renewal incentive, if you have a good tenant you would like to keep. Good tenants are worth their weight in gold.
Let tenants know kinks about the property and how things work. Hopefully this will lead to fewer calls later about where to shut off water or power etc. Let them know how to look up if there is a power outage in their area rather than something wrong with the home. You would be surprised, but people aren’t always familiar with how to check.
Do not over-inspect the property. Give tenants pace and provide them notice if you need to come by.
If you raise the rent on a tenant who stays, consider making an improvement at the same time as an incentive.
If possible, don’t get the cheapest appliances - they won’t last as long. Consider getting a warranty should repairs be necessary.