There are many reasons that may cause good tenants, in Leyland, Preston or Chorley, to decide to give notice and many of these have absolutely nothing whatsoever to do with either the property or their landlord. However, there are some things that cause tenants to leave that are completely preventable.
💸 Rent is too high
Annual rent increases can increase rent beyond a level that the tenant is either able or willing to pay for your property. Make sure that any increases in rent are in line with rents for the local area, an experienced agent will be able to help you with this.
If you have a good tenant and you don't want them to leave because of a rent increase then you should consider the cost of a rental void while looking for a new tenant versus not increasing the rent. Retaining your current tenant could be more financially beneficial than a rent increase.
Your tenant may need a larger property due to a growing family or relatives needing to move in with them for health or financial reasons. While you cannot magically make your property larger, if you have a larger rental property available and they are good tenants it is always worth mentioning to them that you have a bigger property available if you are getting the impression that they are outgrowing their current home.
You may think that there is nothing you can do if your tenant does not get on with their neighbours however, this is not the case. Sometimes simply acting as a mediator between your tenants and their neighbours can be enough to solve any disputes. Listen to both sides. The neighbours may not even be aware that they are doing anything wrong. If that doesn’t help and they are renting, try discussing the problem with their landlord who is likely to be just as keen as you for peace to be resumed. If this does not yield any results then your next step is to get the local council involved. Unsightly piles of rubbish, noise disturbances and anti-social behaviour are all things that the council can help with.
🛠️ Maintenance issues
This is something that is completely within your power to solve. Not fixing things you have promised to fix or not responding when a tenant contacts you about a maintenance issue can cause the relationship between you and your tenant to break down. Avoid losing good tenants because of maintenance issues by making sure that you resolve problems as soon as you are notified about them. Regular inspections give you an opportunity to spot issues before they grow. If you live far away or are too busy to be able to attend to problems swiftly then consider employing a letting agent to manage your property for you. It is cheaper than having rental voids due to losing good tenants.
🏠 Buying a home
Unless they would like to buy your property and you are happy to sell it to them then this is something you really can’t solve. Wish them well and ask them if they have any friends who are looking for somewhere to rent that they would recommend as tenants.
By keeping on top of issues that may cause your tenants to leave you can reduce tenant turnover and rental voids leading to a better experience for both you and your tenants.
If you would like to discuss how we can help you to manage your property in Leyland, Preston, Chorley or the surrounding areas please give us a call on 01772 284606.