As competition amongst landlords rise in markets oversupplied with rentals, here are some viable tips and factors to consider in maintaining good and long relationships with tenants:
1. Location - tenants prefer properties in areas close to convenient shopping, roads, public transportation, groceries, services, parks and schools.
2. Well Maintained - with the option to pick a better maintained rental over yours, landlords are prudent to ensure their properties are kept clean and maintained well.
3. Parking - even if your property does not offer a parking spot, offer the option for street parking (monthly pass), if available.
4. Market Rent - undertake a comparative rental analysis in order to ensure you are asking market rent for your property
5. Keep it Pet Friendly - helps to secure long term tenants and with a comprehensive Pet Agreement problems seldom arise and if they do would be reasonably addressed
6. Air Conditioning - helps with sweltering nights
7. Updated Kitchen and Bathrooms - savvy tenants prefer updated decor and appliances
8. Longer Lease Terms - helps ensure tenant security especially those with children