Reasons Why Good Tenants Leave, And What To Do About It
During the time that you own rental properties in Portland Oregon, or elsewhere across the United States, you’re going to have tenants who will stay with you longer than 12 months but then when it seems like they are happy and should renew their leases again, they leave.
Even though this is a common trend because most tenants leave for a variety of reasons, the reality is that there are proactive things that you can do to stop good tenants from leaving including the following.
#1 – Pay Attention To Local Rents
The first thing that you can do to keep good tenants living in your rental property is to pay attention to local rent trends.
This tip is important because cost is one of the first reasons why most tenants move to other rentals. After all, if a nearby comparable property is renting for 20%-30% less, it’s easy to see why they would want to move there, especially if they can save money every month.
If local rents are decreasing, staying in tune with those rents may be a good idea, especially if lowering the rent for one of your properties will make the difference in keeping your good tenant.
#2 – Your Tenants Have Problems With Neighbors
Another common reason why good tenants move is that they are having problems with neighbors. These can be neighbors in the same building (if you own a multifamily property), our neighbors on the same street.
Let’s say that you find out that neighbors in the area are a problem, in this case, you should take steps to deal with the problem immediately. If the problem with the neighbor persists, your tenant won’t feel safe or happy living there any longer and they will be ready to move when their lease is up for renewal.
#3 – You Broke Promises
One important thing that you never want to do when you own rental property is broken your promises because tenants don’t forget broken promises and that will be a reason why they are ready to move, instead of renewing their leases with you for another year.
Promises must always be kept when you’re a landlord so if you have outstanding maintenance, repairs, or other issues that you promised your tenant you would handle, you should take care of those issues immediately.
Contact Rent Portland Homes – Professionals
At Rent Portland Homes – Professionals, we specialize in local property management and will save you the time, money & hassle of managing your investment property yourself.
To learn more about the services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.