Rental vacancies cost landlords millions of dollars each year.  The good news is that many tenants who leave are retainable – for effective landlords.  Here are five tips to boost your rental agreement renewal rates (and have happier tenants) by becoming a better landlord.

1. A Failure to Communicate
No landlord likes taking tenant phone calls, but tenants feel much more comfortable when landlords are easy to reach, and return their calls quickly.  Give tenants your business number and the hours that are best to reach you, along with your email address.  Keep all emails for a written record of communication.  Remember that even if you don’t have any definitive answers, tenants will still feel better once they have spoken with you, even if all you have to tell them is that you have contacted the handyman and he will be in touch.  Tenants often need to be reassured, so do not ignore their calls, even if you have no new information for them.

2. Responsive = Proactive
From disruptive neighbors to leaking roofs, it is imperative to respond to all tenants concerns quickly.  With repairs, try to coordinate a same-day meeting between the tenant, contractor and yourself to inspect the problem, get a quote and get it fixed.  Many property problems quickly grow in cost, as more damage is caused, and even non-repair complaints should be addressed quickly to improve tenant retention.

3. Observe Tenant Privacy
Many states have laws regulating landlord notice of entry, and of course tenants want to feel like they have privacy.  Obey state/local laws for written notice of entry, and call ahead to schedule a time to visit (assuming a non-emergency – landlords can generally enter without notice in cases of true emergencies).

4. Be an Institution, Not a Squabbler
Tenants will often infuriate you, from failing to pay the rent to damaging your rental property to constant demands for upgrades and repairs.  Growing frustrated and arguing with the tenants or ignoring their calls will not serve you however, it will only send that message that arguing with you is an option.  Instead, be polite and firm: thank them for letting you know that the rent will be late, tell them when the grace period expires, and how much the late fee is.  After the grace period expires, file for the eviction in court, and inform the tenant what the additional court fees will be.  They should come to think of you as an institution – firm, professional and efficient, something to adapt their behavior to, not try to argue with or fight.

5. Occasional Leeway for GOOD Tenants
Retention is all about keeping the good tenants, even if that means allowing them an extra pet, or waiving the occasional fee.  Maybe rent is late by a day because a tenant was traveling or they let their recently divorced sister stay with them for a week; try to make reasonable accommodations, and encourage tenants to renew the rental agreement at the end of the lease term.

By Cassandre Juste & Brian Davis

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.

• Tenant placement
• Tenant screening (including: credit check, landlord and employment verification, social security trace report, california eviction check and criminal check)
• Regular property inspections
• Accounting and landlord bill payment
• Monthly financial reporting
• Maintenance service and supervision (we use only proven independent vendors)
• Collections
• Evictions
• We supply all the necessary forms to meet California’s Landlord/Tenant laws
• 24 hour emergency phone service
• Advertising to the broadest tenant base possible

Call or e-mail us today for more information. We’re ready to get started!

Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.