6 Tips for Retaining Long-Term Tenants

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Reducing tenant turnover should be every landlord’s goal. A successful rental business not only acquires qualified tenants, but also keeps them around. But the task of retaining your long-term tenants year after year may seem like wishful thinking.

Fortunately for landlords, there are many tools available to increase your chances of renewed leases. Tenant screening strategies, marketing tactics, your business management system, and even your communication style can influence tenants’ decisions to stay or leave.

Besides continuous revenue and security, using these tools to retain tenants also protects you from the costs of tenant turnover. Keeping a good tenant is almost always a better option than turning over the unit, which involves extensive cleaning, repairs, renovations, rental listing/advertising, and screening a new tenant.

Avoid these inconveniences by retaining your best tenants. With these six tips, you will have plenty of tools to convince tenants that your properties are worth their years.

1. Tenant Screening

You can get in the mindset for long-term rentals before you even have tenants. The tenant screening process is a good time to identify how you would define the ideal tenant and cater your search toward tenants who meet those standards.

Well-qualified renters often show...

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About Author (Colleen Hoover)

Colleen Hoover is the #1 New York Times bestselling author of twenty two novels and novellas. Hoover’s novels fall into the New Adult and Young Adult contemporary romance categories, as well as psychological thriller.