podcast

How to hold on to good tenants

Lisa Indge, How to hold on to good tenants

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Keeping good tenants is a really important part of being an investor and I think that it's a two way street. You should never keep the rent below market, or well below market, or not increase the rent simply because you like the tenant or they have been a good tenant. It's important to set the ground rules and communicate with your tenant clearly about what the future prospects are. So if the lease is expiring, say in two months time, ask the tenant at that stage if they would like to sign a new lease so that you're preparing for the next period. It gives them surety and you too. And I think this gives you an open conversation with the tenant about whether or not they will stay on or move on.

 

Listen to other instalments of The Smart Property Investment Show:
Episode 95: The top 10 things every investor should check before buying a property
Episode 94: BONUS EPISODE: From 1 to 28 properties – what's his secret?
Episode 93: 28 properties and an $11.5 million portfolio – how this investor did it
Episode 92: BONUS EPISODE: Investor reveals top tips for better property management
Episode 91: Why being 'pedantic' about property will enable this investor to be debt-free by 45
Episode 90: Portfolio update: SPI gives the inside scoop on its latest property purchase
Episode 89: Renovating as a couple: two young investors share their story
Episode 88: Everything you want to know about the short-term rental market revealed
Episode 87: BONUS EPISODE: Former Olympian shares his property development know-how
Episode 86: How a former Olympian found new sport in property development: Ed Fernon's success story
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How to hold on to good tenants
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