As a landlord, keeping tenants happy is your top priority because it helps avoid vacancies and keep your numbers in the black. Things can escalate quickly if unreported when it comes to housing repairs, such as what may be seemingly minor plumbing problems suddenly become a flood in several units.
Vacancies are costly, taking time and money out of the profits from the expenses of turning over the unit for a new tenant. Typically this includes inspection, repairs, and cleaning. Depending on how unhappy your tenants may have been, the repairs could be astoundingly costly. While tenants are responsible for the damages they cause and you may have collected a deposit for damages, it is better to avoid ending up in court over unhappy tenants and problems that a well-laid-out management plan could have averted.
Having clear guidelines for the policies and procedures from the beginning can avoid unnecessary conflict down the road, possibly causing you to lose good tenants and have a high number of vacancies. In the same way, understanding your responsibilities as a landlord and what your tenants will expect of you in this role can help you best approach your new duties with a plan for success. We will explore five of the routine tasks every Lexington landlord needs to stay on top of to keep tenants happy.
Maintaining rental homes or even large complexes depends on your ability to build good relationships with the residents, much of which is understanding their issues. The tenant-landlord relationship starts from the first time you meet. You will need to develop the ability to remain calm and be flexible when someone does approach you about troubles they may be experiencing or a problem with other tenants or their children. Being responsive to their needs and keeping open communication channels can help you fulfill this duty by encouraging tenants to report issues immediately.
Pests can quietly destroy property before your tenants may come to realize there is an issue and bring it to your attention. To avoid severe destruction, every Lexington landlord needs to stay on top of performing monthly treatments as a preventative measure for the property and keep tenants happy. If this isn’t a job you’re willing to take on, you can always call professional pest service providers.
Landscaping adds beauty to your property, however, left out of control, plants can begin to be damaging and cause safety hazards for the residents. Landlords should consider problems with roots growing through sidewalks and even causing cracks in the foundation or even trouble with the plumbing when reviewing your landscape design. Additionally, overgrown plants can allow places for those with ill intent to hide unseen. Routine maintenance of the landscape can be a valuable asset to your tenants’ security, making this another essential task every Lexington landlord needs to stay on top of to keep tenants happy.
Lexington landlord needs to keep tenants happy by treating them with respect, such as carefully following the typical 24-hour notice for entry into units. Tenants also have a reasonable expectation that you will be providing a habitable and safe environment, such as being sure there are well-lit walkways, and common areas are cared for, along with any other routine maintenance tasks. Your tenant may want to pay less rent if these tasks are left undone. If they cannot fully enjoy their residence, you could be responsible for other living arrangements until you resolve the issue.
Along with routine maintenance, it is wise to have annual checkups performed on the critical systems in the rental units, such as the HVAC system, electrical and plumbing, and any other systems involved with amenities offered, such as pools or recreational clubhouses and the like. This annual checkup is also an excellent time to have the foundation, roof, and other structural systems reviewed for damage from winter weather or issues that can arise from the property aging. Taking these extra steps as a Lexington helps a great deal to keep tenants happy.
Let Bluegrass Investment Properties LLC help. At Bluegrass Investment Properties LLC, our professionals know the local market and laws governing compliance with federal guidelines about what you can ask potential tenants and if you may be responsible for special provisions. We can help you stay within your budget and take on as much or as little as you like of the responsibilities of being a landlord, Bluegrass Investment Properties LLC makes it easy to be a good landlord. If you would instead prefer to hand everything over to Bluegrass Investment Properties LLC, working with us means you’ve hired a team of professionals from every walk of the real estate industry that is ready to help. Contact Bluegrass Investment Properties LLC at (859) 321-6618 to discuss these and other tasks every Lexington landlord needs to stay on top of to keep tenants happy.