HAVE A PROPERTY IN KENYA? WAYS TO KEEP YOUR TENANT HAPPY AND STAY LONGER

The real estate industry is an ideal target industry for investors looking at increasing their financial situation for the future. Getting your hands on a commercial property and/or residential property can generate sustainable gradual income at specific periods in relation to letting the property or a one-time bulk payment in relation to selling off the property, both of which increase the investors financial situation.

The duration of a sale process varies from deal to deal, it may be instant or may take several months. However once the process is complete, the property has a new owner as a result, the previous owner has no right or obligation to continuously monitor how the new owner is settling into his new purchase however that scenario is very different in the event the property is rented out by the owner instead of being sold. As an owner of the property, ensuring tenants are continuously satisfied is very important towards maintaining a healthy relationship with them, furthermore, this also makes them feel more comfortable and appreciated. If the property has been handed to a real estate consultant to manage, it is the responsibility of the real estate consultant to act on behalf of the owner and ensure that they are constantly available for the tenant in the event the tenant requires assistance.

A happy tenant in most cases leads to a long term tenant. A long term tenant is mouthwatering for property owners as that leads to consistent income over a long period of time. There are many ways to keep tenants happy and ensure they stay for a longer period of time.

The aspect of being approachable as the property owner or real estate consultant, in the event the property is being managed on behalf of the owner is vital. There may be instances where the owner of the property or real estate consultant’s representative is overwhelmed with duties and may not be available for the tenant at that specific time however the tenant should be informed regardless that the matter will be handled as soon as possible. A tenant should not be ignored, responded to disrespectfully or in act of frustration. Where a tenant feels that an owner or real estate consultant is not approachable, this creates complexities and negativity in their relationship, tenants will then opt to find a property elsewhere. Its crucial for the owner of the property or real estate consultant to ensure they are approachable at all times so as not to discourage the tenant from reaching out incase of any assistance required.

Attending to issues in the property’s structure is important in ensuring the problems faced within the property do not end up chasing the tenant away. There may be issues within the property that the tenant may raise to the owner or real estate consultant that needs immediate fixing or attention over time. Issues such as water seepage for instance are critical and need to be attended to as soon as possible. In such situations, it is vital for the owner of the property or real estate consultant to inform the tenant that the matter will be attended to as soon as possible and acknowledge that the issue raised is critical. This gives a sense of comfort to the tenant that indeed the matter will be looked at soon. Following up to what was informed to the tenant and attending to the issue raised will result in tenant satisfaction.

Communication is key, this cannot be emphasized enough. A situation where a tenant tries to communicate with the owner of the residential/commercial property or with the real estate consultant and gets no response, this causes frustration on the end of the tenant and could lead the tenant to feel helpless. This is quite a common situation tenants face especially with some real estate consultants whereby they simply get ignored. The frustrations on the end of the tenant could result in terminating the lease. Effective communication between the landlord and tenant or real estate consultant and tenant further leads to tenant satisfaction.

Never underestimate the importance of the human factor when it comes to tenants. Your renters may be more likely to want to stay if you are a friendly, and cooperative person. Obviously, that goes for all of life, but even more so when you want people to happily pay you every month. Being courteous and respectful goes a long way to make a tenant feel comfortable in the unit. Having an open relationship can be of great benefit to elevate the sense of comfort for the tenant and builds the tenant-landlord relationship.

Knowing what tenants mainly look for in a property and implementing those resources encourage tenants to stay in the property for a longer period of time. Consider offering features that tenants care about most may help you attract better long-term tenants and serve as an incentive for them to renew their lease. Amenities such as swimming pools, gardens and gymnasiums are what tenants focus on, especially the millennials. Lifestyle quality is a major factor in whether they decide to stay or go. You may own the property, but the tenant should be able to consider it their home. In addition, there are other strategic upgrades like stainless steel appliances, invertors, back-up generators, hardwood flooring, and central air conditioning that can make a house feel like home. These upgrades can potentially be good investments if you want to attract new tenants or encourage current tenants to stay longer.

No tenant wants to be treated unfairly by their landlord or real estate consultant. So, no matter the race, religion, sexual orientation or physical ability of your tenant, you must be consistent in how you treat the people who rent from you. This also means being responsive, addressing concerns, and avoiding charging excessively. Sure, you can charge whatever you want, but if you end up raising it too high on specific, protected groups of people, you could be setting yourself up for discrimination litigation.

Every owner has the right to enforce their rules and regulations in relation to their property however its important to do so without going overboard. This should be specified in the lease as well as the consequences of breaching the said rules, this is an important element so that the tenant is aware what the consequences are well in advance of breaking the rules set in place. Furthermore, in the part of the owner, its critical form him/her not to go against what has been initially agreed in the lease as that is the ethical thing to do and not upset the tenant by causing distrust. For example if there is a rental escalation of 5% stated in the contract after 2 years, when the escalation rate is about to take effect a situation shouldn’t arise where the owner increases it by a higher percentage other than what has been stated and agreed in the contract.

As an owner or real estate consultant representing the owner, it is important to act ethically and avoid behaviors and situations that would trigger a dispute between the two parties. Due to the current market situations, there is an oversupply of properties in Kenya, this makes it more complex for property owners to obtain a tenant quickly, as a result, owners should ensure their tenants are satisfied and should maintain a healthy relationship with them.

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