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10 Ways to Thank Your Tenant

Don’t you love a good THANK YOU from someone? Thank yous can uplift your tenant, keep them smiling, and possibly maintain a loyal renter for years by showing appreciation for their business. After all, managing a rental property is a business whether you do it yourself or hire a property management company so customer service must be up to par if you want to keep happy renters and a well-kept rental.

It feels good to be recognized and appreciated. Simple gestures go a long way that results in trust, respect, loyalty, and partnership that can easily be exercised by you as a landlord.

As busy as everyone is today, showing appreciation and gratitude may seem like a task within itself, but it doesn’t have to feel like one. Here’s how you can build a solid relationship with your tenants that’ll have THEM saying thank you and the gestures returned.

It’s easy to harbor bad feelings about prior tenant experiences for most landlords. Managing your property and acquiring ideal residents is not an easy task. Make-readies for destroyed carpets, holes in the walls, unpaid rent, and multiple HOA lawn violations tend to never be forgotten affecting future tenancies.

However, one bad apple doesn’t have to spoil the bunch. There are good tenants out there and when you have one that pays on time, takes care of the home, and adheres to the terms and conditions of the lease agreement, it’s worth taking the time to recognize and acknowledge them. Because if it wasn’t for your tenants, you wouldn’t be in business so it’s valuable to reward which also builds rapport and appreciation between you two.

The good news is that showing appreciation doesn’t have to be hard- or even time-consuming. Most people like the simplest things. It’s the thought that counts and goes a long way with having a good relationship with your tenant.

Here are 10 ways you can show gratitude and keep awesome tenants

 

1. First impressions count. Establish a good relationship from the start

As a landlord, you take the lead. Be polite and professional from the beginning by providing ways to reach you should they need to contact you at any time for questions or concerns. If you don’t want to deal with the hassles of phones calls, consider a property management company to handle managing the home for you- which provides your tenants a seamless professional experience as well.

When residents feel they’re respected and appreciated, it sets a positive start encouraging them to care for the home and ultimately renew their lease.

2. Be available

Just like all of us, tenants want to be responded to right away. Time is precious. When a tenant calls or sends an email with a question or problem, a good landlord will always strive to get back to them as soon as possible. Addressing matters promptly help to alleviate concerns and shows you care. If you’re going to be off the grid for a bit, providing a heads-up goes and alternate contact goes a long way in building trust and ease with your tenants.

3. Respect their privacy

Respecting privacy is one of the best ways to build trust and show gratitude to your tenants. Respecting privacy means to provide a courtesy notice before any visits by you or a contractor. If you have to enter the home, scheduling it around the tenants time goes above and beyond and shows great consideration for their privacy.

4. Fix things in a timely matter

There are no avoiding repairs. Homes need maintenance just as cars do and by putting things aside or band-aiding needy repairs can break your wallet in the long. Treat your rental property as if you were living in it yourself. For instance, HVAC units last longer with regular maintenance. If a tenant complains of the AC not working on a consistent basis, getting to the heart of the matter and fixing it timely shows you care for their well being providing a good tenant experience when repairs are needed.

5. Be realistic when raising the rent

Every landlord wants to maximize their rental income. It’s normal to raise the rent each year with those rising taxes and property values increasing. It’s important to have done your homework with market values and recent rental averages for your home’s area so you want to take discretion prior to sending out renewal or rental increase notices. Make sure you’re within the terms of the lease agreement regarding increasing rent and offer a competitive amount. Normally, notices should be provided at least 30 days of the increase but check your state lease laws as they vary. You’re most likely guaranteed to have a disgruntled tenant if you have an increase around the holidays- a time when most people are strapped for money so timing should be considered.

6. Reward tenants with small tokens


The holidays are an opportune time to say thanks and go a very long way to keeping a happy tenant. You could send a gift basket, birthday card, or a gourmet treat. If you really want to feel like a hero, you could surprise them with a friendly discount off rent which would be well received.

7. Renewal Incentives

Let’s face it, we all love bonuses or a free gift when renewing or signing up for something. Same goes true for tenants. By giving a gift for pest control, maid service, free lawn cut, or carpet cleaning upon renewing can be both a win-win for you and the tenant. A fresh coat of paint is also a great gesture which keeps both a tenant happy and the home looking good. Showing you care about the upkeep and condition of the house motivates tenants to look after it better themselves. An ideal tenant attribute every landlord dreams of.

8. Be thoughtful

A simple way to show appreciation for your tenants is sending an email or calling on their birthday. People love to feel special and personal message handles just that. Spreading joy and celebrating a part of someone’s day makes your tenants feel like family. When they feel like family their likely to stay longer which costs you less in the long run.

9. Consider upgrades

Renters not only like convenience but they like modern up to date furnishings and amenities. This doesn’t mean you have to renovate the whole house to show how much you care, but having updated appliances, countertops, flooring, blinds, and ceiling fans mean a lot in value and what tenants are getting for their rent. By having up to date amenities and renovations, you will attract ideal tenants during turnover as well keeping your current residents out of the old and into the new.

10. Keep your promises

Just as landlords pray for ideal tenants, tenants pray for ideal landlords. Landlords how not only are fair, honest, and appreciative but also those that keep their promises. There’s nothing worse to a tenant than having been told a new fence will be put up or hints of new wood flooring plan to be installed and nothing happens. Not following thru on promises can quickly deflate a good landlord-tenant relationship and risks churn costing more money in the end. Deliver on your promised and your tenants are guaranteed to be most grateful.

Remember, treating tenants like family makes them feel respected, appreciated, and special which will encourage them to do the same when taking care of the home, paying rent on time and possibly become your best tenants.

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7 Steps to Renting & Property Management

Turn your home into a rental property.

Renting your property out isn’t as hard as you may think and take up all your time.

If you don’t know where to start, how to prepare your home, and manage the property then you’re not alone. If you’re thinking about renting your property and new to property management, then knowing your first steps is what’s going to set you up for success.

This month’s October blog provides steps to getting started, how to prepare your home for occupants, and the process it takes to do so for property management.

One of the main things that property owners ask is “what do I need to do first?” Let’s dive into what you need to do first and the steps to take afterward to get your home on the market and into the world of property management. You may realize it’s not that difficult.

  1. The first step is determining the property value

    How much will your property rent for and how long will it take to rent? A rental properties value is based on location, condition, amenities, and demand and supply. You can determine a price to list your rental and project how long it will take to acquire a tenant by having a rental market analysis (RMA) performed. An RMA, aka CMA (competitive market analysis), is a report of other comparable homes. It shows either how many homes have rented or are currently for rent, listing price,  and how long it’s on the market or was. Having this data will allow you to have a strategic approach towards marketing the home for rent.

  2. The second step is to analyze the report and create an action plan with a property management expert

    Having an action plan will drive you to set the home up as a rental investment. Once you determine a listing price and project how many days the home may be on the market, you can start to prepare the property for marketing with realistic expectations.

  3. The third step is to meet with a property management rep at the home

    The rep should walk the property with you and make suggestions such as any repairs needed and how to position the home to attract prospects and increase traffic. The more traffic you have for your property the quicker you’ll get it occupied. If you’re not able to meet in person, you can have the rep go on their own but this step is very important in preparing the home before listing it.

  4. The 4th step is signing up for property management services

    A property management firm will be able to place your home on the market to reach millions of renters, screen and acquire tenancy, collect security deposits and rent, and manage the overall activities of the property such as maintenance and customer service for your residents. Sure anyone can manage a property on their own but how many know how to do it? Plus, there’s state laws, codes, and regulations every landlord must comply with and if you don’t have a handle on these legalities it could come back to bite you in the end and be very costly. Yep! Consider yourself a property investor.

  5. The 5th step is marketing the property for rent

    The home will be listed on multiple real estate platforms such as the MLS, Realtor.com, Zillow, and a handful of rental sites. A sign will be placed in the yard or window of the home (depending on HOA regulations), and a lockbox so prospects and realtors can have access to view the property. During this time, any makeready or repairs will be managed and completed prior to tenancy.

  6. The 6th step is acquiring tenants

    Once the home has been listed, your property manager will screen all applicants, collect funds, administer the lease documents, and move in the tenants. The sign and lockbox will be removed and property taken off the market.

  7. The 7th step is managing the property

    Monthly rent will be collected, coordinating repairs will be in place, and providing a positive tenant experience for your residents resumes.

Got the property management blues? We’ll turn your worries into income. Contact us today.

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Curb Appeal Tips for Your Austin Texas Rental Property

By Rave Property Management

So you’re just getting ready to rent your Austin Texas Rental Property; you’ve painted, cleaned and have it ready for new tenants. However, did you consider improving the general curb appeal?

Focusing on curb appeal can offer significant advantages for a landlord. Some of these advantages include:

  • More overall interest & prospective tenants viewing the property
  • Fewer days on the market based on the overall condition of the property (Interior/Exterior)
  • Higher rent potential based on desirability

You can take steps that are cost effective to improve the curb appeal by following these simple tips.

Clean Up Your Austin Texas Rental Property

Does your rental property still have tree limbs, leaves, and debris left over from winter? If so, it’s time to get your property cleaned up because first impressions do count, even when it comes to a rental, because if a perspective tenant thinks your property looks unsightly, they may choose to keep looking.

Besides removing debris and cleaning up your property in Austin, or the surrounding area, you should also consider moving/trimming the grass, cutting back bushes or shrubs, painting your mailbox and power washing your driveway to make your rental property more inviting.

Plant New Flowers & Fresh Mulch

Another tip you can use for making your Austin Texas Rental Property more inviting is to plant new flowers. If this isn’t easy for you to do at this time you should purchase pre-planted flower bowls or planters from stores like Home Depot or Lowe’s and place them in front of your rental property.

Create Conversation Areas Outside

Last of all, but equally important, if your Austin Rental has a small porch or patio area, you should stage patio furniture so that prospective renters can take notice there are plenty of areas for them to socialize, grill during the summer, and enjoy living in & hanging outside your rental property.

Get Austin Texas Property Management

For professional property management for your Austin Texas Rental Property, contact Rave Property Management at (512) 377-1486 or click here to connect with us online.

Austin Texas Named Best State Capitol to Live in the United States

austin-texas-state-capitol

By Rave Property Management

AUSTIN, TX. – Thanks to recent data from wallethub.com we know that Austin Texas has been named the best state capital to live in the United States.

Why is Austin the best state capitol to live in the United States? There are a variety of factors including economic strength, excellent health care, fun things to do in the area, affordable housing, cool people, great food, awesome music and so much more.

Best State Capitol to Live

Besides all of the obvious reasons why Austin Texas is the best state capital to live in the United States we also have an excellent cultural scene, great educational opportunities, awesome quality of life, cool coffee shops and many other great benefits that make Austin ideal if you want to live in a state capitol.

Unlike other state capitals in the United States that “feel” like state capitols, Austin is different because our city offers a “coolness” that can’t be found in other state capitals in the USA; this is thanks in large part to Austin also being the Music Capitol of the World and a major destination for the artists, singers, songwriters, poets, and creative people to come and live.

Where Are the Worst State Capitols to Live?

So now we know that Austin is considered to be the best state capitol to live in the United States, the big question is, where are what some would consider to be the “worst capitals” in the United States?

Here’s Wallet Hubs ranking of the worst state capitals:

Indianapolis, Indiana

Dover, Delaware

Little Rock, Arkansas

Providence, Rhode Island

Baton Rouge, Louisiana

Carson City, Nevada

Montgomery, Alabama

Trenton, New Jersey

Hartford, Connecticut

Jackson, Mississippi

Get Austin Texas Property Management Here

For professional Austin Texas Property Management, contact Rave Property Management, today by calling us at (512) 377-1486 or click here to connect with us online.

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