By Blackbird Realty & Management, Inc
Getting a rental property rented is easy for many landlords but when it comes to lease renewals that’s another story.
Thankfully, the process of renewing leases is easier than you think especially if you follow these simple tips.
Tip #1 – Start The Lease Renewal Process Early
Instead of waiting until the last minute to see if your tenants are going to renew their leases, start the renewal process early by asking them at least three months in advance if they plan on renewing their leases or not.
Tip #2 – Offer Tenants Incentives For Renewing Their Leases
Another helpful thing you can do to get your tenants to renew their leases is to offer them incentives for renewing their leases, especially if they renew early.
Some of the incentives you might want to consider offering your tenants include:
- Gift cards to local businesses
- Free Rent for one month
- Free WiFi internet
Tip #3 – Make Repairs Or Improvements To The Rental Property
Last of all, but most important, another great thing that you can do to get your tenants to renew their leases is make repairs or improvements to your rental property.
Every tenant likes to know that they matter to their landlord and making those repairs/improvements now will show your tenants that you value their value them as a tenant and want to keep them renting from you for years to come.
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