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How to keep your tenants for as long as possible and maximise your property investment returns

Writer's picture: Skye TaylorSkye Taylor

Having tenants move out regularly can hurt your vacancy days, increase wear and tear on the property, and cost you so much more in the long term. Keeping tenants in your property will boost your profitability, increase your property investment returns, and ensure a far less stressful experience.




tenant enjoying her kitchen

There are several ways you can make sure you're being a great landlord, and ensuring your tenants want to stay in your home for the long term.


Be proactive about repairs and maintenance


This goes further than maintaining your property. It actually shows the tenant that you respect and care about their needs.

Tenants can and will request all kinds of things, and some are not feasible or reasonable, but if you can accommodate a request, it can go a long way to the tenant feeling appreciated and heard, and make them that much more likely to stay put.


Property managers know that life can get busy for you, that is why you hire us in the first place. However being prompt in getting an approval or authority to us is another way you can be a great landlord.

At Taylored Property, I will always endeavour to call you to discuss a repair, and I follow up with an email regardless so you have a paper trail. I try to make it as easy as possible for you to not think, and just say yes or no to the solutions I present, so we can respond to the tenant as quickly as possible.


Sometimes it can take a little longer to organise a repair, say for example a part is required, or it is difficult to organise multiple quotes. Depending on the timeframe, a gesture of compensation can go an extraordinarily long way. Say for example you decide to take $50 off the rent for the month they have not had a working airconditioner for example.


Install and maintain quality features


There are small tweaks you can make to your property that make a world of difference to a tenant. Overhead cupboards in the kitchen, a dishwasher, extra storage, ceiling fans, increased security such as door hardware or improving on existing locks.


Of course, allowing tenants to make small improvements can also help them feel like it is their home. Putting hooks on the walls, or even painting a wall if the colour is undesirable, will all add up to the tenant staying longer in your home.



Don't delay on lease renewals


Sometimes it can be hard to be prompt with this if you potentially have your own plans on hold or up in the air, but giving your tenant the security of knowing they can stay can be a great relief at what is potentially a stressful moment.


Your property manager should be coming to you at least 3 months before the end of the tenancy with a recommendation for you with regards to the overall tenancy, and the market rent, leaving plenty of time for negotiation with both parties.


Whilst we are on that topic, typically when it comes to rental increases, I like to offer a "loyalty" bonus to tenants. So if your current rent is $460pw for example, the market rent is $500pw, it makes sense to offer them $480pw so its still worthwhile staying, whilst also rewarding them for doing so. The additional $1040pa you might make would end up costing far more if the tenant were to leave, and vice versa for them if they were to move. Cultivating a win-win solution for both parties will ensure happy days for all in the long run.


Christmas is a great time to acknowledge your tenant


Sometimes it might be as simple as sending a christmas card with a scratchie in it, or you can be more elaborate with a Bunnings voucher (win-win, they will likely spend this on something to maintain the home!) but these little gestures of appreciation will make a world of difference to a tenant, who is usually made to feel less-than by society for "just being a renter". Acknowledging your gratitude for them being great tenants, and wishing them good tidings will leave warm fuzzies for all.


Are you resting on the potential?


These are just a few examples of how we can keep good tenants for the long term, and ensure the returns are maximised by minimising vacancy for you, and reducing wear and tear on the property with high turnover of tenants. Each property is different, so have a chat with me about what you can do in your situation on 0426 241 676 or hello@tayloredproperty.com.au

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