Around 34% of people under 35 rent their homes. Within this huge number, there are both good and bad renters. Your challenge as a landlord in Santa Fe is to attract and keep the good ones.
So what are some things you can do to keep great tenants at your Santa Fe investment property? This article tells you everything you need to know about leasing management.
Make Communication a Priority
One of the most frustrating things about being a tenant is poor communication with landlords. Landlords are often difficult to reach, even in the event of an emergency. Even when tenants are able to contact landlords, they might not be very forthcoming about property maintenance or other problems.
You can set yourself apart by being a communicative and responsive landlord. When you're quick to answer maintenance requests and return phone calls, you'll show you're a good landlord a tenant can rely on. Given the often poor communication from other landlords, tenants won't want to leave one of your Santa Fe properties.
Property Maintenance and Upkeep
Another thing that often frustrates tenants is the lack of property upkeep. Since landlords often don't communicate well, rental properties can quickly fall into disrepair. If good tenants have to deal with things being broken or not working correctly, they'll likely want to move and take their business elsewhere.
You should, therefore, always be proactive about maintenance. Do regular inspections of the property and identify any issues. Then, you should address these issues before the problem gets worse.
Not only can this kind of preventive maintenance keep your tenants happy, but it can also save you money by addressing problems before they get expensive to fix.
One of the main ways you can keep good tenants is by offering competitive rent. The cost of rent is rising in Santa Fe and around the country. Due to these high rents, lots of tenants don't have much money left over for saving and entertainment.
You can set yourself apart from the crowd and keep tenants for a long time with competitive pricing. If your prices are not below the average, there's always a risk that good tenants will look elsewhere so they can save money.
Flexible Lease Terms
Many of your tenants may find themselves in uncertain living situations. This means they want to see flexible lease renewals that can accommodate them. A lot of landlords are not very flexible in this area, and this can cause people a lot of stress.
When you're prepared to negotiate more flexible contracts and lease terms, you set yourself apart from other landlords in Santa Fe. Once tenants get out of an uncertain situation, they'll remember your flexibility, and they'll be more likely to stay longer. A good leasing management company can help you write a lease that's flexible and fair.
Consider Leasing Management
As you can see, being a good landlord is no easy task. Working with a professional leasing management company is one way to make the job easier. Such a company can help you with setting the rent price and writing lease terms.
If you want to work with a great leasing management company right here in Santa Fe, contact us today.