Ten Reasons Why Property Proposals Need Permission

1. Lenders Permission To Rent A Buy to Let Property. – Inherently this includes permission to rent – or does it?

a. Even this type of mortgage will exclude certain tenancies.

b. E.g. it is likely that a landlord’s family-members are excluded from occupation.

c. Certain tenant genres may also be excluded such as knowingly letting to benefit recipients.

d. Therefore, it is important to always establish whether there is either implied or actual permission.

e. A former landlord-home will probably require lender-permission to rent.

f. Lenders are likely to require any tenancy to be an AST and contra wise may exclude common law and commercial tenancies.

g. Lenders’ permission to allow alterations and extensions: probably requires lender consent to build a property extension.

h. Some lenders restrict the number of tenants to say four tenants.

i. So if you extend your four-bed apartment to five bedrooms, your lender might contend that your mortgage product does not permit renting to five tenants.

j. In such circumstances the borrower must do one of three things:

i. Swap mortgage products to enable an additional tenant. However, such a swap is likely to come with a lower loan-to-value and a higher interest rate.

ii. Switch mortgage lenders. This may not be as easy as it sounds in a depressed market.

iii. The only remaining option might be to do nothing. Certainly do not waste money renovating if this will breach the terms of the mortgage agreement.

k. Lenders might require confirmation that borrowers have appropriate permissions before in turn permitting renovations

l. Lenders might demand that a damp basement must be ‘tanked’ within say three months of granting a mortgage, meantime withholding a retention. But if the property is a listed building the local authority may not permit it. So unwittingly, conflicts can arise for the unwary.

2. Building Control Approval – Permission is likely required prior to conducting structural alterations.

a. Any structural alterations, even replacing a bathroom may require ‘Part-P’ permission to fit an electric shower unit. Likewise other ‘wet’or ‘notifiable locations’.

3. Planning Permission – This may be required if it is outside ‘Permitted Development’, e.g. a large extension requires permission, whereas say a small porch will not – unless it is a listed building or in a conservation area when normal permitted development requires written permission anyway). After 4 to 10 years following unpermitted works, any required permission is deemed granted and no longer an offence.

a. If the Property is a ‘Listed Building’, ‘Planning Permission’ is required.

b. If the property is in a ‘Conservation Area’ yet again Planning Permission is required to lop. top or fell a tree.

c. A house in an area designated as covered by Article 4 requires planning permission under the Town and Country Planning Acts and Orders.

4. Ex Local Authority Homes – If the property was formerly owned by a local authority then there is likely to be a restrictive covenant in the deeds preventing alterations to the external appearance – without the local Council Estates Department’s permission. So even if a small porch would e within permitted development permission may still be required.

5. Mandatory Licensable Property – A property is in England or Wales and comprising three or more storeys and 5 or more unrelated tenants is classed as a large HMO and as such requires LA approval to be let as a Mandatory Licensed Property.

6. Discretionary Licensable Properties – This also require permission to let and this covers Additional and Selective Licensing. See previous articles by the author on this topic.

7. Sui Generis – A property is in England or Wales and comprising seven or more unrelated tenants is classed as a large HMO and is in also a category of its own called ‘Sui Generis’. As such this requires LA approval to rent regardless of the number of storeys.

8. An Empty Property pending letting also requires permission from any home insurer if vacant longer than a set period – normally 30 days.

9. A Landlord’s or Owner’s Permission is required to do anything stipulated within a tenancy agreement which requires the landlord’s permission: permitting pets, subletting as an inferior landlord and or tenant, changing colour / decor, etc. Similarly, proposed works at or near a neighbouring property-boundary (vertical – walls, or horizontal floors and ceilings if flats) will require notice and Party Wall Act (1996) consent or arbitration with any adjacent owner.

10. Permission to Act subject to Declaring Personal Interests. Failure to declare a personal interest can result in a breach of Consumer Protection Regulations. If there is a presumption of a personal interest this can create a conflict of interest. Once the personal interest is declared to the other party and that party agrees, or permits the act, then there is no conflict. E.g a landlord must be told that a letting agent or staff member is related to the new tenant or to a service provider to avoid a presumption of impropriety. The tenant might only be paying half the true value of the rent or the contractor may not be competitive both to the detriment of the landlord. Once informed the landlord is likely to scrutinise such a deal to ensure correctness before granting permission to rent to the relative or agree to works by a relative.

Tips On Finding The Right Property Management Company

It is a hassle, more often than not, to find the right guy to do the job. This is certainly the case when searching for a property management company. While it’s true that the risk of property management is reduced considerably if a reliable real estate manager is on the job, you have to find the right property management company for the process to be successful. Read on to learn how to find the right one.

Search Your Local Network

Your local network will comprise trusted and reliable people. Ask your realtor, contractor, or handyman if they know of any property management company that you can work with. Also seek advice from network meetings and investment clubs. Gather all the options you can from the people you know and trust.

Ask The Company Officials Important Questions

Once you have a list of property management companies ready, you to need to speak to the concerned people in each company and ask them a number of questions. Find out who their other clients are and collect references. Look into the property portfolios they managed in the past and find out how efficient they were with these ventures. This can be a good measure of how likely it is that the company will succeed in managing your property portfolio.

Value For Money Is Key

After gathering all the necessary information, you should enquire about the pricing. Property managers are responsible for performing a multitude of functions that vary in both cost and responsibility. Before entering into an agreement with the company, ensure that you are getting everything you want from them, and all of that at a satisfying price.

Be smart about the money. Some companies may offer their services for a percentage of your monthly rent, but there may be others offering more services for a marginally higher price. It’s recommended that you decide exactly as per what suits you.

You Should Take The Calls

You and your property manager should work like a team, with no lapse in communication. Remember that it’s your property in question and so you are in control. The buck stops with you. So for instance, if the company relies on your rental income for their salary, they might look for ways to increase your rent amount. You should stay a step ahead and make sure this doesn’t affect you. Nobody should have the final word on your property but you.

Be Sure About Who You Finally Pick

Take your time in choosing the most suitable property manager. Not all those who make a good first impression will deliver. Even if a manager was referred to you, you should do your research anyway and run a thorough background check.

Important Property Investment Strategies

It is the right time to invest in the property market. As the real estate market is growing faster than ever before, you can definitely take it under consideration. Many national and international property developers have been showing their interest in it. To roll money in various markets, many new business tycoons are choosing real estate market as the best option. This is a very good decision helping them make more money. Side by side, they can make more profit and show the government lower account balance.

If you are a new investor interested in investing money in the real estate market, you must follow some important investment strategies. This will help you maximize profit and minimize loss. To do so, you must be well aware of the tax rules and latest real estate laws. Clearly speaking, you should know the property guidelines of a place for a safe, secure and profitable investment there.

Given below are some important guidelines:

Examine the site for investment

This is the first and the vital step for taking any property investment decision. If you are going to invest in a city, you must find out a site which is very close to the industrial belts, business hubs and special economic zones of it. Here you should critically justify and judge the proposed project site. To do so, you must think about the location and communication system of a place. Your planned area must be well-connected to the important parts of the city. It should not be far from the heart of the city.

Learn the property size and ongoing market price:

This is another important thing to consider before starting a new real estate project. You must know the size of the land. Get it measured and calculated with an experienced engineer. You should know the ongoing market price of that area. Make a comparison of the prices with the nearby sold areas.

Know the tax laws and investment rules

This is mandatory for a realtor to know the tax laws and property rules of a city. Violation of any of these rules is subject to various risks. It is worthy to mention here that the tax and investment laws of your targeted area must be flexible.

Buy a fair property:

Buy a property, which has no objection, litigation or dispute. If you buy a wrong property, you cannot take it under your possession. You will only lose your money. A right property selection will give you an extra advantage and confidence.

3 Tips for Home Staging an Empty Property

You might be familiar with the concept of home staging as a way to increase mass appeal of your for sale home to the general public. But what if the home you wish to sell is empty? Can an empty home also be effectively staged? The answer to this question is: definitely yes! Read on for more information.

The first tip is that, believe it or not, there are home staging professionals in existence today that excel in staging empty homes. Some of them are so effective at what they do that empty, the home receives multiple offers before entertaining even one open house. If the home you want to sell is empty and you are seeking to have it staged, you would do well to ask around to the different staging companies to find out if they have anyone on hand who specializes in empty homes.

Another important tip is the concept that less is more. That means the less your home is cluttered up by too much furniture, art pieces, or any other decorative items; the more appeal it will have to potential buyers. This is because the majority of potential buyers enjoy imagining what the home will look like with THEIR furnishings inside of it. If the home is too crowded they cannot easily do this. Then they may move onto a different home instead of buying yours.

Still another tip is regarding the cost of professional home staging companies. This can vary from one company to another, based on your home’s particular needs and the market for home buying you are currently in. Another factor that will determine how much you pay them is whether or not that staging company uses their own sets of furniture or buys some especially for your home. Of course the amount of time they spend staging your home also will factor into your cost.

We have a bonus tip for you as well. That is the person you select to stage your home should know your potential market. Is it families with children and pets or possibly a single professional who prefers a lot of space? Perhaps it is a retirement age couple with homes in a couple of states? Part of the answers to these questions lie in the neighborhood your home is in. Who makes up the majority of your neighbors right now? Odds are good that whatever demographics are there now will determine if more of the same type of neighbors will be attracted to your home. Then make sure your hired professional home stager knows how to set up your home accordingly.

When you are ready to sell your home, either empty or furnished, be sure to contact a local home staging company. They can work wonders when it comes to actually selling your home. Remember; the better your home looks, the more potential buyers it will attract. Then you can be assured of a successful and relatively quick sale. Everybody will be happy.

Property Management Made Simple

A fast, simple and effective way for landlords to manage their property portfolio with minimum hassle.

Being a landlord or a property manager can be an arduous task. There is usually an endless list of jobs that need to be taken care of, whether you’re managing a single property or a vast portfolio. There are several landlord property care apps offered by property management groups to help property owners in managing their property and keep everything running smoothly, taking the stress out of daily tasks.

WHY DO I NEED AN APP FOR THIS?

Downloading the app provides a simple and efficient way for you to manage your properties. It’s intelligently designed, easy to use features have been developed by the experts in app development to cater for your specific requirements. With its key features you can digitally take control of all tasks with a swipe of your finger.

KEY FEATURES:

  • Managing Tenants
  • Monthly rental payments
  • Utility management
  • Rent review
  • Property inspection reports
  • Annual safety tests
  • Lease management
  • Print yearly/ monthly taxable finances.

MANAGING TENANTS AND RENT

When it comes to managing rent owed and tenants the app couldn’t make it simpler if it tried! You go to the sub section you need, click the icon and straight away you can add new tenants, storing their personal information i.e. phone number and address, as well as their moving date and contract end. As for rent you merely need to select the property in your portfolio, specify the date, rental fee and Estate agents commission and you’re sorted. This saves a lot of time and productivity in the long run, meaning you’re not chasing any overdue payments or tenant details.

TAX MADE SIMPLE

Everyone knows that trying to keep on top of yearly tax returns can be a nightmare, but this is just another reason why this app is extremely beneficial. It allows you to do your own book-keeping on the move, by logging all of your income and expenses, when and where you necessary, to keep on top of your accounts. In the long run this will be more beneficial for your accountant or even for yourself if you organise your own accounting. Moving forward, this means you can review monthly and yearly reports with the tap of one finger, as well as track your taxes making your End of Year returns report easy to access, and print off for your benefits.

The same format is used when logging Expenses, again these are all kept in one place, and you can easily input property expenses through their individual property details and log important expenses such as Interest only mortgage, Capital Mortgage, Repairs, Insurance, Cleaning, agents involved etc.

ADDITIONAL SUPPORT

An additional benefit is that you will have a dedicated support team which promises to assist you with any technical and non-technical help that you may require. This gives you reassurance and trust that your portfolio details are in the right hands, and that all information is deemed confidential, to which you will only have access to, and none of which will be shared to other Property Managers.

The Best Qualities of a Property Manager

The importance of property managers is not new to anyone, especially to the landlords, buyers, sellers and tenants. Real estate management is a career profession and is booming in every corner of the world. The manager works either directly for the owner of real estate properties or works for a real estate management firm. Nowadays, owning a rental property anywhere on this planet requires the assistance of property management services which are professional and efficient. Not all managers have the same competency to find you a rented house or a house to buy. Hence, you need to consider certain things before hiring a manager:. Wondering what are these? Check out here:

Reliable and ethical

Property managers need work on a code of honour while they deal with other people’s trust and money. While collecting rent, laundry machine money, maintenance charges, security deposits, etc. the managers should maintain a fiduciary relationship with the property owner. While the owner entrusts his money and property, the manager must be honest with these. The managers must perform at the highest level of integrity.

Local ordinances and state laws

There are separate land laws of every place and every country. The Government usually decides on how the real estate is to be managed. The manager needs to stay updated with the legal requirements of managing real estate so that he or she can take right decision and correct action whenever required.

Organised and detail oriented

The property manager, while collecting rent, must also ensure that the rent is paid and updated in the tenant’s account as “Received”. He should maintain financial records with details of each and every transaction. Also, it is their duty to remind the tenants about the rent increase, lease renewals, lease expirations, etc. In short, the manager must be able to multi-task based on priorities.

Technical competency

In today’s date, a property manager should have computer competency along with other technical skills like typing, driving, etc. The methods of mail merging, emailing and faxing need computer knowledge. Also, he or she should be in complete command of basics of computer usage. Only then they can efficiently handle all tasks.

Communication skills

The property managers must have good communication skills as they have to deal with people coming from all walks of life and all corners of the world. Hence, the managers must be able to document their cases in front of judges, negotiate with vendors, and talk to owners and tenants even when they are in bad state of mood. They should always deal with their clients in professional manner.

Flexible mind

The managers must have a flexible mind as this is a volatile profession. They should have ability to accept changes of law and have positive and unbiased attitude, obey fair housing laws, etc. They should not mistreat tenants.

Property Management Provides Peace of Mind

While real estate can be a lucrative investment, managing tenants, repairs, and related issues can be challenging. This is especially true for owners who live in another location or have full-time jobs beyond their real estate investments. For these individuals, hiring the right property management company can provide much-needed peace of mind. Here are questions to ask when interviewing a potential property manager.

1. How long have you been in business?

Not only is a lengthy record in the industry often indicative of a trustworthy business, but it also means a manager has likely dealt with most problems that tend to crop up with rentals. Experience with a range of issues, including legal, accounting, emergency response, and maintenance expertise, is essential.

2. Are you licensed by the appropriate state and industry authorities?

In most states, licensed managers must take an approved property management course and passed a state licensing exam. A licensed property manager in charge, or PMIC, is allowed to manage other managers and run his or her own business. He or she is knowledgeable about state regulations for handling rental income, security deposits, and other financial matters.

In addition to licensure, certification can indicate more extensive industry knowledge. These credentials are granted by trade organizations, including the Institute of Real Estate Management, National Apartment Association, National Association of Residential Property Managers, and the Community Associations Institute.

3. Can you provide referrals from past clients?

A property manager should be able to provide contact information for current or past clients that have agreed to speak on his or her behalf. Potential clients should check out the addresses of which the business is in control to ensure that they are being run properly. By the same token, relying on referrals from trusted contacts is a good way to vet a short list of potential companies.

4. What fees do you charge?

While there can be a wide range of industry fees, the standard costs include a management fee ranging from 4 to 12 percent of the monthly rent, depending on the location and condition of the real estate, whether there is more than one holding, how many units in each, and what types of services are required. Some companies charge a monthly vacancy fee when the home is uninhabited, while others require the full fee regardless of whether there’s a current tenant. A set-up fee for a new client can be up to $300. Also, those relying on a management company to find tenants can expect to pay 25% to 100% of the first month’s rent (usually around 50 percent).

5. How often do they inspect?

The answer to this question is a key to ensuring that a real estate investment is protected. While a property management firm should inspect anytime there is tenant turnover, regular inspections should still be done when there’s a long-term tenant. Intervals can vary, but units or homes should be inspected at least once a year, as well as an external inspection every quarter to notice any potential developing issues.

10 Property Management Tips

Are you looking for some useful property management tips? If so, you may want to read the following 10 tips from experts in the field. With these tips, managing property will be a lot easier for you. Read on.

Provide Important Information

Make sure your customers and clients have access to the information about the properties. If you really want to get the listing, you should be able to share all the relevant information in an efficient manner.

Be Punctual

You should be committed as far as making arrangements for a meeting or appointment is concerned. Try your best to get to the meeting point at least a few minutes earlier. This is a good way of leaving great impression on your clients.

Presentation

You should be well dressed when seeing your clients. This will encourage your clients to treat you well. Moreover, your dress code will tell a lot about you.

Honesty

You should be honest while providing reports and statistics about your properties. Providing misleading or false information to clients is the best method to destroy your business. What you need to do is find a strategy to deal with the situation and get a solution instead of providing false information.

Marketing

You should market your property in an effective way. The vender may have unrealistically high hopes, but you should be realistic and shouldn’t agree to the price offers without taking the time to think about everything. After all, you don’t want your property to sit vacant for months just because the price tag was too high.

Advertising

Advertising your property is of great importance. Make sure the advertisement is available at the right time. Therefore, you should be ready with a draft on time. Aside from this, it’s better that you get approval from the vender prior to uploading the advertisement on your site.

Photography

Make sure you take some professional photos of the properties and upload them on your site. Ideally, it’s a good idea to take at least 4 pictures of each property. The pictures should be taken from different angles. Putting a few videos along with photos is also a great idea.

Stay in Touch

You should send updates and reports to the property owners on a regular basis. As a matter of fact, maintaining great relationship with your clients pays. Losing a client is easier than gaining a new one. Therefore, you should stay touch with your clients.

Database

You should know your database. Your prospective clients should receive the same level of respect as do your existing clients. Therefore, it’s a good idea to take a look at your list of clients from time to time.

Background checks

Make sure you do background checks on your tenants. What you need to do is do rigorous background checks on the personal information, tenancy history and employment history of your tenants. This is a great way of making sure you are on the safe side.

What to Ask When Looking for a Good Property Manager

If you’ve ever searched for a good property manager before, then you know how difficult it can be to find a good one for your rental property. There are several property managers out there, probably more than what you really need to bring your property into the market.

With so many choices available, you may find it difficult to choose one for your unit. But don’t worry – if you ask the right questions while shopping around for property managers, you’ll get a better idea of who would make the best fit for your property. Ask them these questions when discussing your property to see if they’re the right property manager for you:

1. What type of properties have you managed?

Experience counts for a lot in property management, and it can separate the good ones from the ones you should steer away from. Experience in this field, however, isn’t just about the number of years worked in the field; it’s also about what type of properties they’ve managed. Depending on what type of property you have, you can either go with someone who specialises in managing properties like yours or someone who has more varied experience managing different types of properties.

2. How do you screen potential tenants?

Screening potential tenants is one of the most important steps to property management, so the way they do this often reflects their level of service to your property. Ask them how they’ll match tenants to your property and what their process is like for finding tenants. This will give you a better idea of how they operate and what lengths they’ll go to find the right match for your property.

3. How do you handle late payments by tenants?

Finding tenants is just one phase of property management; the longer phase involves managing the tenancy itself. Asking them this question will show you what their management style is like and how they’ll deal with critical rental issues like these. See if their process aligns with what you expect them to do and how you want your property to be managed.

4. How do you respond to complaints?

Similar to the previous question, this question allows you to gauge how well a potential property manager will handle the landlord-tenant relationship. Remember that a property manager will act as the mediator between you and your tenant, so it’s important that you’re comfortable with their process for dealing with any complaints or issues.

5. How often do you do inspections?

Routine inspections are important to any tenancy agreement, and the number of times it’s done per year will help give you better peace of mind as the landlord or owner. This question will also show you how well the property manager will look after your property even after the start of the tenancy.

6. What’s the right rental price for my property?

If you’ve done your research beforehand, this question will let you assess how well a potential property manager knows the market and what they can offer you. It also allows you to get a better idea of what your property is worth in the current market. Compare their answer with different property managers to see what they offer and to better understand where your property stands in the market.

7. What are the things I can do to improve my listing?

Asking them this question won’t just reveal their expertise in property management, but it’ll also help you put your property in the best position in the market. Note their suggestions, assess how relevant they are, and decide whether or not they can get your property where you want it to be.

8. What are the full costs and fees for managing my property?

Some have small sign-up fees but a variety of hidden fees once you sign on and let them manage your property. Avoid getting surprised by such fees, and ask them to indicate all management and service fees included in their service. The more complicated their fee structure is, the bigger the headache (and expense) it will likely be.

9. What can you do that others can’t?

This is where prospective property managers will try to sell you on what they offer and how well they set themselves apart from the competition. It’s also the part where you assess the intangibles in any working relationship, giving you a better idea of how well they meet your standards. Listen well, take notes, and assess if they provide what you’re looking for.

4 Easy Ways to Increase Profits and Your Rentals

Cha-Ching! It’s the first week of the month and time to cash these checks. It is not always easy, but I love owning rentals; especially now when rents are through the roof. The challenge now is finding property to buy. If you were lucky enough to pick up a few properties the last few years you are likely doing very well, but maybe you could be doing even better! Here are four ways to do even better on your rental portfolio.

Consider renting extra space separately. There is a tremendous amount of upside in this. Garages immediately come to mind, but I have also rented storage sheds separately and have heard of people renting sections of the lot for horse boarding or additional storage.

I have a property now that I rent the garage out separately. It is a two car garage that I rent for $200 a month. This one strategy increases my revenue by 10% and there is little to no expenses with the garage lease, so it actually increases profits by more than that!

Rent extra items. I have heard of rental property owners renting out items such as TVs, computers, or furniture to increase revenue. I have not done that, but I have rented washer/dryers separately. Washers and dryers tend to break down so I will never include them with my rental units. If I buy a property with a washer/dryer or I get one from a tenant that has moved out, I will typically either offer it to the tenant for free or rent it to them. Obviously, renting the washer and dryer will increase the monthly cash flow, but you will be responsible if something goes wrong. It could increase your headache, but it will also increase your profits. If the tenant does not want to rent them from you, you can offer it to them for free or you will want to remove them. The last thing you want is the responsibility of insuring the washer and dryer works without any income for the additional hassle.

Bill tenants for utilities. For some reason this was a hard one for me to do. I was taught early on that I, as the landlord, should pay for the water. The argument is that water is the one utility provider that can lien your property for nonpayment. Although that is true, it still makes since to have the tenant pay water. The worst case is the tenant does not pay and you have to.

In my market, it is becoming more acceptable to ask the tenant to pay all utilities, so why not give them what they expect? The two benefits are increase in cash flow for you and they will use less. I just spoke to Travis in my office about this. He has a tri-plex that had extremely high water bills. He was having trouble figuring it out and was paying that bill each month as the landlord. This was cutting into his profits by more than $300 a month!! The solution for him was to pay a company $2,500 to put in a system to individually meter each of the 3 units. Within one month, he discovered that one unit was responsible for most of the water usage and discovered that they were growing marijuana. Those tenants were asked to leave and were replaced with a much better tenant saving Travis over $150 a month. His next step will be to start sending invoices to each tenant for their water usage, which will increase his revenue by another $150.

Reduce turnovers. This one might sound obvious but is often overlooked. Turnovers can be very expensive. In fact, it is not uncommon for one turnover to ruin your profits on a unit for two or more years. The cause includes loss rent, marketing for a new tenant, repairs, and more. Reducing turnover can be complicated. Here are just a few ideas to help.

Screen tenants – This is the single best way to keep your turnovers low. It is extremely important to get quality tenants, and the only way to do that is to screen them properly. Obviously credit and criminal checks are essential, but it is also a good idea to interview your prospect about why they are moving and why they want to rent from you, call references, insure they can afford the rent and utility payments, have a stable drama free lifestyle, take care of their stuff (look in their car when you meet them), and have an emergency contact that will help them if they get into financial trouble.

Smaller rent increases – In a hot rental market like we are in, it is challenging to keep up with the pace in which rents are rising. Often times rent in the area is going up faster than I can raise the rent, which is a very positive thing. The reason this occurs for me is that I do not want to increase rent more than a tenant can afford. My experience is that if the tenant cannot afford the rent increase, they will not tell you. They will attempt to make it work and will eventually fall behind, creating a costly turnover. It is much better, in my opinion, to work with your tenant with reasonable increases and keep them happy and paying their rent each month.

Maintenance – I just had my maintenance team go out to a rental to unclog a shower drain. I got a bill for the service for $125. On the invoice it mentioned that he found hair in the drain. Why is it my responsibility to clear a drain that the tenant clogged? Well the answer is… it’s not. My lease states that I am not responsible for any clogged drain, so when I got the invoice I created an invoice that I sent to the tenant with a copy of the lease and a copy of the invoice I received for the maintenance call. I just got the $125 check in the mail today. Now the tenant is conditioned to take better care of the unit because I am not paying for issues they create.

The other thing about maintenance that has worked really well for me is to take care of items that I am responsible for right away. I do not delay at all. When I get a maintenance call, I will get my team on it right away. The tenant will normally hear from the person scheduled to fix the issue the same day. This has really helped me keep tenants. I have had tenants tell me several times how much they appreciate that. It is not uncommon for a tenant to ask me to rent them another place when they decide to move, and it is also not uncommon for me to hear that a tenant stayed longer than they wanted simply because I took care of them.