Tenants decide to give notice for lots of reasons, many of which may have nothing to do with the property or their landlord. However, there are preventable factors that can lead to tenants handing in their notice.
Rent
Annual rent increases can exceed what a tenant is willing or able to pay. Ensure that any rent adjustments align with local market rates. Sometimes, avoiding a rental void while searching for a new tenant can be more financially beneficial than increasing rent.
Upsizing
Tenants may need to move to a larger property because their family is growing or due to other circumstances. While the size of your property can’t magically change, if you have a larger rental property available and you have good tenants then it can be worth mentioning the option to move into your larger rental property if you sense they are outgrowing their current home.
Neighbours
If your tenants are having problems with their neighbours then acting as a mediator can help to resolve disputes. Listen to both sides, and if necessary, discuss the issue with their landlord or involve the local council for severe problems like noise disturbances or anti-social behaviour.
Maintenance
Not fixing maintenance problems promptly or ignoring maintenance issues that tenants have reported can strain the landlord-tenant relationship. Resolve problems promptly to avoid losing good tenants. Regular inspections help identify issues early. If distance or time constraints are an issue, consider hiring a letting agent to manage your property for you.
Buying
If your tenants plan to buy a home, unless they are interested in purchasing your property, it’s a situation beyond your control. Wish them well and ask if they have friends in need of a rental property.
By proactively addressing the issues listed above, landlords can minimise tenant turnover and rental voids, creating a positive experience for both parties. I handle all aspects of property management. If you would to know how I can help you to manage your property in Chelmsford, Essex please give me a call on 01245 202 579 or send an email to [email protected].
