HMO: how to keep tenants longer
An HMO (house in multiple occupation) can be a great investment but managing shared tenancies can be tricky. Not only are there lots of legislations to adhere to, finding, and more importantly keeping, good tenants isn’t always easy. And, if tenants keep leaving, the additional costs of voids adds up – eating into your profits. Here, we take a look at some top tips to keep your tenants in for longer.
This might seem like an obvious one but keeping lines of communication strong and clear is the key to a good tenant-landlord relationship., This way, should anything arise, things can be managed quickly and efficiently (on both sides). Plus, knowing your tenants by their first name helps to build a rapport and make them feel that they’re not just a number. This actually works both ways, having a tenant know landlords by a first name and not just ‘landlord’ adds the human respect element. Think of yourself as a caring host, enjoy serving your customers – that way they’re likely to stay longer.
Regular visits & maintenance
Visiting a property is important not only for maintenance but to make sure the property is kept in good condition. As a tenant, one of the or biggest bugbears is not having things working or waiting for ages for something to be repaired. By dealing with maintenance issues quickly helps tenants feel that their landlord cares about their welfare, not just the property.
Onboard a good letting agent for your HMO
Having a good letting agent on board can help to take the stress out of managing an HMO property. However, having the wrong one can have the opposite effect. Make sure you ask other landlords for recommendations and reviews, a good letting agent will have a good reputation. Take the time to choose a letting agent carefully and build a good working relationship.
If you’re looking for a professional and reputable letting agent in Norwich then contact us today to see how we can help support you.