5 Tips to Help Keep Your Tenants Happy
As a landlord, you know how hard it can be to find good tenants. But when you do find them, you want to keep them! Because finding new tenants is more costly than retaining current ones, keeping your current tenants happy is beneficial from a bottom-line standpoint.
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This year marks the 50th anniversary of the passage of the Fair Housing Act (FHA). The FHA bans discrimination in housing-related transactions based on race, color, national origin, religion, sex, familial status, and disability. Much progress has been made, but there are still persistent inequalities in access to high-quality neighborhoods with good employment, well-performing schools, and transportation.
As a rental property owner, not only do you have to consider your building’s physical condition, but also keep in mind the safety of your residents, your business, and yourself.
As a rental property owner, utilities make up a large portion of your budget. A study done by the Institute of Real Estate Management found that for the average multifamily property owner, the utility costs equate to roughly 25% of all operating expenses.