Keeping your tenants happy in Exeter

The value of properties up and down the country are still increasing, so it is more important than ever to provide your tenants with a comfortable home where they will be happy to stay for a long term, there will certainly be other landlords willing to do so if not. 

This does not mean that it is necessary to fully refurbish all your properties every six months, however there are a few simple steps that can be taken to ensure your tenants stay for the longest time possible.

The first and possibly most important question to ask yourself, and answer honestly, is if you walked into the property, would you live in it in its current condition?  If the answer is no then there is work to be done.  Modern and clean is not a tenant luxury, it is a basic requirement if you are to secure a decent tenant at the right rent. 

Neutral décor does not have to cost the earth to achieve, especially if the costs are spread throughout the length of a tenancy, perhaps put 10% of the monthly rent into a “refurbishment fund”, with the average rent being around £750pcm, after a six month tenancy you would have £450 towards some new paintwork.  Also remember some of these costs, subject to your personal position, are tax deductible.

Once you have got your tenants, you should be trying to keep hold of them.  There is a very simple message here and that is; a good landlord is an attentive and responsive landlord.  Don't hide from them, ignore them or hope they will go away.  Deal with their issues as soon as possible.  This simply means that you listen to their needs and act on them.  If you use a managing agent, listen to their advice, they will be trying to make the most of your investment for you and they will be able to advise on where best to spend your money.

If you want your tenants to remain happy, give them the tools that they need to keep the property in good shape. This could mean supplying that lawn mower which you were not going to offer originally, however, by offering one you are ensuring the continued support of your tenants and you are also giving your property the best chance to remain in good condition for as long as possible.

These are the basics and many landlords choose to go far above and beyond these points; they are the ones whose tenants stay for 3, 4, 5 years plus.

If you would like more advice on how to look after your property or how our “Cashback for Landlords” scheme could give your property the cash injection it needs to bring it back to life, please come and see us at our office on South Street or call us on 01392 254488.