When landlords think about people moving the rent is usually the first thing they think about. They figure if a good tenant decides to leave it is because they found a place that costs money or a better place to live somewhere else. That is not always the reason why people move out. In today’s market good tenants are often willing to pay a fair price for a home they really like living in. What makes them want to leave is usually the experience of living in that home the people moving out experience.
Good Tenants Rarely Leave Over Small Rent Increases
Most people who rent a place know that the amount they pay for rent will go up and down over time. This is because things like rising costs and inflation and what is happening in the market affect everyone. If a tenant really likes where they live and they feel like they are treated well then a small increase in the rent is usually not enough to make them want to move to a place. Moving to a place is a big hassle and it costs a lot of money. The tenant has to pay a deposit. They have to pay to move all their stuff. They have to sign a new contract. They have to get used to a whole new place. For a lot of tenants, it is just easier to stay where they are long as they are happy, with their tenant experience and they like where they live.
Communication Matters More Than Many Landlords Realise
One of the biggest frustrations tenant’s reports is poor communication.
This does not always mean arguments. Usually it's the things that matter:
* Maintenance requests that are not answered
* Long waits for responses
* Uncertainty about issues, with the property
* Feeling like nobody is listening when concerns are brought up
From a landlord’s point of view these might seem like issues. From a tenant’s point of view they can make them feel that their living situation does not matter.
Over time this feeling grows.
People Don't Just Rent Properties—They Rent Experiences
A property can have:
* A great location
* A fair rent
* Nice interiors
But if living there feels stressful tenants will look for another place.
The rental experience is made up of interactions:
* How fast problems are fixed
* How polite the communication is
* Whether tenants feel okay about reporting issues
* Whether they know what to expect from the start
The best landlords know that tenants being happy isn't about the property. It's, about the landlord-tenant relationship.
Small Frustrations Become Big Reasons to Leave
Tenants do not usually move out because of one problem. It is usually a lot of things that add up.
These things can be:
* Repairs that take a time to get done
* Not knowing what is going on
* Misunderstandings that happen over and over
* Feeling like the tenant is not important to the landlord
Each of these problems might not seem like a deal, on its own. When they all happen together tenants can get really frustrated with their situation and start looking for a new place to live even if they are not moving out right away. The tenant will start looking at property listings. This can happen long before they actually decide to move out.
What Good Tenants Actually Want
Most tenants do not want everything to be perfect. They want to know what to expect. Tenants want things to be predictable. They want basic things, from landlords.
These things are:
✔ Clear communication
✔ Prompt responses
✔ Fair treatment
✔ maintained homes
✔ A sense of stability.
When landlords provide these things all the time tenants are more likely to stay in the property and tell people about it. Tenants will renew the property. Recommend the property to others when landlords do these things.
The idea that people move out because of the rent is not always true. People move out for lots of reasons. Sometimes they just do not like living in the place anymore. They feel like the landlord does not care about them. The rent is something that people think about when they decide what to do. What really matters is how they feel about the place they live. The landlords who keep the tenants are not always the ones who charge the least amount of rent. They are usually the ones who make the place feel like home. They make people feel happy to live This is really important when there are a lot of places to rent. It is something that can really help a landlord.
