There’s no doubt that lease renewal time can be one of the toughest times of year for some owners, especially if their tenants wait until the last minute to renew their leases.
Thankfully, lease renewals don’t have to be a “headache” if you use these simple tips for getting your tenants to renew their leases sooner.
Tips For Getting Your Tenants To Renew Their Leases Sooner
Talk With Your Tenants Sooner About Lease Renewal
You know that one or more tenants has their lease up for renewal in three months so why not speak with them now rather than later about renewing their leases?
Starting the dialogue sooner with tenants about lease renewals means you will also have more time to resolve any issues they may have with the rental property or a rent increase which you may be planning.
Offer Incentives to Your Tenants
Let’s say that one or more of your tenants is “on the fence” about renewing their lease; one of the best things you can do for those tenants is to offer them incentives for renewing like: gift certificates to local restaurants, gym memberships, free internet for 6 months, free cable or another freebie which could give them the incentive to renew with you.
Upgrade Your Amenities
Last of all, but most important, one of the best things you can do before your tenants are due for lease renewal is to find out what other homes for rent in Modesto are offering their tenants as amenities and then offer similar amenities to your tenants.
For example: some of the most common amenities you could offer your tenants include: outdoor space, dog run, BBQ or grill, onsite storage shed or yard maintenance.
Get Property Management In the Central Valley
To get more property management tips or to learn more about our property management services contact RPM Central Valley today by calling us at (800) 535-7381 or CLICK HERE to connect with us online.