As everyone around here knows, the Outer Banks has a tremendous shortage of Long-Term Rentals. In this market, there is no need to put up with a slow-paying tenant or nuisance tenant although turnover of your home can be costly for the homeowner on a tight budget or fixed income. We have many renters who have lived in the homes we manage for 5+ years, pay on time and take good care of the property. Many of these renters are retired people whose income is fixed and they no longer wish to have the expense of Home Ownership. Our goal at OBX Housing is to keep these tenants happy and wanting to stay in your investment property.
Here are a few suggestions that will your great tenant:
- After 12 months of paying on time and with lease renewal for another 12 months, offer to have the carpet cleaned at no cost to them. This is an expense that you as a homeowner can write off for tax purposes and it also ensures that the carpet is cleaned once a year.
- Offer to keep their rental rate the same for next 12 months if they sign a 2 year lease with a small increase for the second year.
- Offer to have the exterior of the home pressure washed and outside windows cleaned at your expense. Again, this is an expense you as a homeowner can write off for tax purposes.
- Offer to have the HVAC and dryer vents cleaned. This is a service that should be done in ALL homes frequently but is often forgotten. This is also an expense you as a homeowner can write off for tax purposes but it could also prevent birds nesting in dryer vents and or a fire.
- Offer a $100 gift certificate to a local grocery store. This too would be an expense that you could write off for tax purposes and really shows goodwill towards your tenant.
These are just a few ideas that could help you keep a good tenant happy and paying on time.