It’s very challenging to find a good or ideal tenant. And preventing tenants leave at the end of the lease is more challenging. As every one of us, there are also many changes in tenants’ lives. Some may get married, buy their own house, change jobs, and migrate to another country. And other situations will go above your control, like what we are all facing now, pandemics, and even calamities.
These changes aren’t inevitable, and most of them will require leaving and moving out. However, if there are other reasons for leaving, you might as well find a way to keep your tenants.
Here are the top reasons good tenants leave at the end of the lease and how to prevent it
Rent Increase
If there will be a rent increase, it should be small and little by little. Ór else, there’s a significant risk that you’re slipping out of your tenant’s rent amount range.
If that’s why your tenant leaves at the end of the lease, the first thing you should consider is if the increase is necessary? But, you have to weigh between the turnover and marketing expenses that you will have to find a new tenant.
However, if it’s justifiable, you may consider the following options:
- Dividing the difference – If the proposed increase in rent is $150, consider splitting it with your tenant.
- Giving something extra – If there’s an additional payment that they’re paying in full per month, you can give them some perks on the property, like a parking space.
- Offer a different unit – If you have many rental properties, why not offer them a cheaper or less-expensive unit.
- Strike a deal – You can also make a deal with them by lowering their rent for a few months and afterward bringing it back to the original rent amount.
It’s not just costly to obtain a new tenant, but it’s also riskier, like a good rent payer.
Tenants leave at the end of the lease because of Bad Neighbors
Being a landlord, it’s one of your responsibility to ensure that your tenants have a safe neighborhood and are comfortable. Still, there are factors that you can’t control, like their neighbors.
There are times that bad tenants in the neighborhood are the main reason your tenant leaves. What you can do as a landlord is that you’re the one who can take the stand to talk to these neighbors.
You can have a conversation with them and remind them that their behavior has legal consequences. Moreover, you can kindly encourage them to stop their unruly attitude. In this way, you can help your tenants at peace and safe in their unit.
You Don’t Stand By Your Promises
Being responsible and keeping your promises is one of the things that is essential as a landlord. Thus, you can maintain a harmonious and trustworthy landlord-tenant relationship if you know how to stand or hold your promises or deal with your tenants.
You don’t have to cancel your deals instantly. In a situation like now during the pandemic, you agree with your tenant that you will temporarily reduce their rent. Still, you suddenly back out of that agreement without any warning or notice. Don’t let trust issues be the reason your tenant moves out.
State of The Rental Property and Neighborhood
Most of the time, tenants are not happy with the unit’s state or rental property. Because there may be a pothole in the parking lot, a cigarette smell in the lobby, or a pest infestation.
For instance, there are also times that they are not pleased with their community. This may include the following factors:
- location
- crime rate
- noise levels
- Traffic
However, there’s not much you can do with the neighborhood, but you can focus on improving your rental property. And if many tenants are concerned about your rental property condition, you must address that immediately.
Moreover, if you want to know what issue is the most important, you can send out a tenant survey and give out some incentives so that your tenant will participate. And once the significant issues are identified, you can start making a checklist and fix the issues.
Slow Maintenance or Ignored Repair Requests
One of your main responsibilities as a landlord is to keep your property in good condition. In particular, when there’s a repair request, you should address that immediately, and as a result, your tenant will be happy and feel satisfied with the service. While a simple ignored repair request, or it takes a week to get a repair, may be why tenants leave at the end of the lease
It’s essential that your tenants may contact you quickly. Ensure that they can contact you through call, text, and email so that you can acknowledge their repair concern immediately. This is crucial for emergencies such as broken pipes or wiring.
It’s necessary to be proactive with repairs. You can ask your tenant to regularly check if there are leaks or damages in the unit. So that you can address the problems immediately, this will add an impression to your tenant that their safety is important to you.
Unprofessional Landlords
When running a business like a rental property, you should always be professional to your tenants or clients. One secret to becoming a successful landlord is constantly dealing with your tenants professionally.
It would be best if you had clear communication with them, responded to their concern on time, and were courteous in talking to them.
You will get back that respect if you treat your tenant with respect. Just remember, “respect begets respect.”
Tenants leave at the end of the lease due to Feeling Unappreciated
Following treating your tenants with respect, make sure that your tenants will feel appreciated too. Moreover, there are several ways to have a good relationship with your tenant, and one of them is to give them respect and appreciation.
However, if you treat them negatively, like treating them unprofessionally or causing bad feelings with your actions, tenants leave at the end of the lease or move out.
Outgrowing The Unit
Several times, tenants gave up the rental property because of marriage, adopted a pet, gave birth, or brought some roommate to help with the bills. Whatever their reasons, the unit was not enough, and they wanted to move out.
You can help them if you have multiple rental properties and units that you can offer them. You can walk them through your portfolio to find the appropriate unit that would cater to their growing needs. Having some tour with them in the properties is the best way to find them the suitable unit.
Job Change (Higher/Lower Salary)
If your tenant had a salary raise and wants to find a more pleasing rental property. Therefore, you can offer upgrades to the unit but with a little the rent increase.
However, if your tenant changed their job, that would cause them to decrease their salary. You can offer your tenant a reduced rent. Or another option is to offer them a less expensive unit if you have one available.
Renter’s Market
Most of the tenants move out when more units are available rather than demand for units. In that way, tenants will have a chance to get a larger unit or have more amenities for a lower price.
What you can do as a landlord is to avoid vacancies you can reduce your current tenant’s rent. Or another way around is to offer upgrades on the unit, such as upgrading the countertops, new carpet, or appliances.
Tenants leave at the end of the lease because of Poor Communication
If your tenant had difficulty reaching out to you, especially during an emergency, that is a major problem for them. What they need is a landlord that is trustworthy and reliable. In some situations, like if they’ve been locked out or if there are safety and security issues, they need a landlord that can address their concern and queries immediately when it occurs.
However, if you still have issues with good communication with your tenants, the best thing you can do is hire a property manager. They will do all the necessary tasks from addressing tenants’ concerns and complaints, scheduling maintenance, contacting the right person to do the repairs immediately, and others.
Final Thoughts
Following those tips listed above will help you to lessen tenant turnover. Tenant’s move out is an unavoidable situation, but you can do something to prevent some of it.
A harmonious relationship between you and your tenant is the best way to keep them. Being professional and appreciative to them will also be a significant factor so that your tenant will not think of leaving your rental property. Being a considerate landlord to your tenant will also benefit both the tenant and the landlord.
Although you have the fanciest high-end condo or rental property in the country, tenants leave at the end of the lease, if you don’t know how to treat your tenants properly and with respect.
Moreover, there are several justifiable reasons why a tenant leaves. Just like when the pandemic strikes until the present because of the crisis. Be sensitive to the situation and learn to put yourself in your tenant’s shoes.
