Learn the easiest way to create a great tenant. It's all about keeping them happy and being nice! It’s really that simple... be nice, be fair, be generous. If you take one step, your tenant will probably take three.

Steps
Going the extra mile. If you want your tenants to go the extra mile for you, you have to go there for them first!

Set a fair rent; don’t rip your tenants off. It’s OK to charge above market rent if your property is above market value, but otherwise don’t overcharge or you’ll build resentment.

Reward on-time or advanced rent payments (e.g. with movie tickets, gift certificates, DVD rental vouchers, chocolates, anything nice that your tenant will like) have a reward program …. ex. 1yr of “on-time rent� earns _____ 2yrs “ “ earns _____…3yrs of "on-time" rent earns _____ ..... (This also makes them want to live in your unit longer to get the greater rewards that comes with a longer residency!)

Know who your tenants are and at least a little bit about them. You should be able to have a conversation with them about their life (e.g. “How are little Johnny and Sarah?� “Are you still playing golf?�) But don’t get too close as in “friends� as they best not to see you as a “friend�… but a “friendly landlord� who cares about them!

Be available to your tenants. If you miss their call and they leave a message, respond promptly. There is nothing more annoying than a property manager who never answers your call and never gets back to you.

Discuss win-win options with them. For example, if the door handles need replacing, offer to pay for them if the tenant installs them. Or if they find a room in the house too hot, offer to install a ceiling fan for an extra $7 a week rent. You must ensure that both parties are benefiting, not just you.

If you aren’t going to manage your properties yourself, then appoint an excellent property manager. Not an average property manager; in my experience, the average property manager isn’t good enough. If you are going to put someone else in charge of your income, your livelihood, your babies, you want someone really good.
If required…offer to pick them up for the initial viewing of your properties(s)… they will be impressed by your help!

If a tenant wants to move out , suggest your other apartments that you might have openings - this will save you time and money as well in searching for a good new tenant.

Results of “going that extra mile�

A tenant who will go the extra mile will:

--> Do minor repairs at their own cost
Add value to your property (e.g. by installing a broadband connection, a wall-mount for a dryer [if it’s a unit/apartment], or by painting the balcony railing etc) Recently, my tenant replaced their own toilet tank that cracked and paid half the cost of the thank and did the work himself! And numerous tenants have painted and or added fixtures and permanent house furnishing to the units just because we have gone the extra mile for them.

--> Always have rent paid on time or even in advance
Be extra careful not to scratch walls or floors
Clean everything better so it doesn’t age/rust as fast or break, save energy and save you money.

Extra Tips

SPECIFY - Use qualifiers in your for-rent advertising. Saying "no pets" or "good credit required" will save you time and effort in screening applicants

USE WORD OF MOUTH - Offer a tenant referral fee of $50 to $100 to your good tenants to fill your vacancies. Good tenants tend to know other good tenants

RENT UNIT UNFURNISHED – Them having invested the time to move in and settle will more likely keep them renting longer.

DO YOUR OWN REPAIRS - Maintenance companies can chew up your profits.

AIM HIGH - Neighborhoods near military bases and universities are great places for income property because transient military families tend to rent instead of buy.

Thats it for now... have a prosperous day!
Adam Gulbinowicz