How to Attract Long-Term Tenants for Your Atlanta, GA Rental
One of the best things you can do for your Atlanta, GA rental property is find high-quality tenants that want to stay for the long haul. After all, long-term tenants mean not having to advertise vacancies, screen new tenants, or draft new leases. Not to mention, your bottom line remains intact when you keep the same tenants leasing your property.
That said, there are so many reasons why people leave the rental they’re in. And if you’re not careful, you’ll notice your turnover rate increasing and your revenue decreasing.
If you find yourself wondering how to attract long-term tenants, keep reading. We’re here to share with you the 8 best ways to attract long-term tenants and keep them for more than one lease term.
So, let’s take a look.
How to Attract Long-Term Tenants for Your Atlanta, GA Rental
1. Utilize Incentives
People love the thought of getting something for nothing. Or at the very least, getting something for very little.
If you want to encourage existing tenants to renew their lease agreements, consider offering incentives. For example, you might offer your tenants things like:
- Fresh coats of paint
- New flooring
- Brand new appliances
- Renewed landscaping
- Utility payments
- Gift cards or coupons
- Discounted rent
Though these things will cost you a small amount of money upfront, it’ll pale in comparison to the cost of having to place a new tenant. Sometimes, to secure a lease long-term tenant, you have to spend a little to earn a lot.
2. Be Welcoming from the Start
A great way to set the tone right for new tenants is to welcome them in a way they’ve never seen before. Whether you self-manage your property or use property managers in Atlanta, GA, you can deliver a memorable welcome package to your tenants.
Inside you might include things like:
- A list of important contact information
- Cleaning supplies
- Gift cards to grocery stores or restaurants
- Baked goods
- Maps of the surrounding area
A small welcome package will go a long way with your tenants because the truth is, most people don’t make this kind of effort when a tenant moves in. When the end of the lease term comes around, your tenants are sure to remember your kind gesture. This may be enough to convince them to renew their lease.
3. Allow Pets in Your Rental
67% of American households own a pet. This equates to a whopping 85 million families. To say your tenants are likely to have a pet of their own is an understatement. Unfortunately for pet owners, finding a landlord that lets their furry family members stay can be tough.
If you want to secure a long-term tenant that owns a pet, consider being flexible with your initial no pet policy. If a tenant enjoys leasing from you, and they’re allowed to have their pets, your chances of keeping that tenant long-term increases significantly.
And don’t worry. If you use a high-quality property management company like YesiRent, you’ll be able to collect pet fees and enjoy the Pet Damage Protection Promise®. In other words, YesiRent will pay up to $1500 in pet damaged above the security deposit you collect.
4. Make Things Easy on Your Tenants
One reason your tenant might decide to leave your rental is because of the general upkeep required. Remember, curb appeal is crucial for making great first impressions and convincing people to lease from you. But at the end of the day, it will be your tenants who have to take care of that curb appeal once they move in.
Unless you do it for them.
Giving tenants a break from exterior upkeep is a great way to help convince them to stay another lease term. Here’s how you can do just that:
- Minimize the amount of landscaping required in the first place
- Hire a landscaper to handle general upkeep and seasonal changes
- Include maintenance tips and tricks in your welcome package
- Provide a rent discount if your tenant chooses to take on the upkeep themselves
The easier it is to maintain the exterior of your rental property, the better. You don’t want to miss out on a lease renewal because your tenant doesn’t like mowing the lawn. Instead, make things easy for them and let them appreciate you by signing on for another term.
5. Respect Tenant Privacy
As a property owner, its your job to ensure your tenants are fulfilling their obligations and caring for your property. This means there will be times when you or your property managers in Atlanta, GA will have to perform routine property inspections.
That said, it’s important to remember that your tenants call your rental their home. The last thing they want to deal with on a regular basis is a property manager that continues to check up on them.
To respect the privacy of your tenants, only schedule necessary property inspections. And when we say schedule, we mean give your tenants plenty of notice that you plan to stop by. In addition, consider inspecting the property at a time that’s convenient for your tenant.
Lastly, utilize maintenance and repair requests to perform quick inspections of your rental. This will allow you to inspect the condition of your property. Plus, it will show your tenants you care, which goes a long when way it comes to lease renewals.
6. Prioritize Maintenance and Communication
45% of property owners claim that emergency repairs and preventative maintenance are their biggest sources of stress. Not surprisingly, tenants claim that maintenance problems are one of their most common complaints.
As you can see, both landlords and tenants stress about maintenance and repairs. However, it has to be done. This is why you or your property manager should make an effort to prioritize maintenance requests, so your tenants don’t feel forgotten or uncared for.
And this starts with good communication.
Tenants want to feel like they can contact you or your property manager at any time when a repair is needed. Providing multiple points of contact can help. For example, an after-hours phone line, an online portal, and a 24/7 maintenance crew can really impress your tenants. Plus, these things take a lot of stress off you and make being a landlord more enjoyable.
7. Ask for Tenant Feedback
Another great way to show your tenants you care about their experience in your rental is to ask for feedback.
When you ask for tenant feedback, you run into one of two scenarios:
- Your tenants are happy living in your rental, you’ve forged a better relationship with them by showing you care, and your tenants sign a lease renewal
- Your tenants are unhappy, and you’re given an opportunity to make it better before a lease renewal is on the table
Whether your tenants are happy with you or not, getting feedback is helpful. It can give you insight into what you are doing right, so you can continue on that same track. Or, it can give you insight into what you’re doing wrong and provide a chance for you to make it right. Either way, your tenants are likely to appreciate your effort.
8. Use High-Quality Property Managers in Atlanta, GA
One of the most effective ways to attract long-term tenants and keep them leasing from you is to use experienced property managers in Atlanta, GA. In doing so, you have a qualified property manager on hand to care for your investment property and your tenants.
Here are just some of the things long-term tenants want that a property manager can provide:
- Stellar customer service
- Easy rent collection procedures
- Full transparency when it comes to maintenance costs
- Legally compliant processes
- On-call maintenance crews that are timely and professional
- Open communication and fast response times
If your property management company offers all of this and more, you can expect to attract and keep nothing but long-term tenants.
Are you in need of Atlanta property management? If so, contact us today and see how we can help you attract long-term tenants and maximize your ROI.
At YesiRent, we work hard to make your life as a property owner easier than ever. We offer things like effective marketing, in-depth tenant screening, and easy rent collection procedures to ensure you have nothing short of high-quality tenants that pay their rent on time. But more than that, we take it upon ourselves to coordinate lease renewals with tenants well in advance, so that you secure as many lease renewals as possible.