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LandLord type folks - I have a question...


KillJoy

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We have Renters in our Home. Our Contract with them was for 1 year, then month to month. Stupidly, there is no rent increase for month to month. So, they have no incentive to renew the Contract.

 

That being said, the Misses was speaking w/ them and they said they were really happy there and would re-sign if we wanted them too, albeit hesitantly.

 

I am wanting them to re-sign. I am thinking of this:

 

Re-sign for 1 year, I will repaint 1 room of their choice

 

Re-sign for 2 years, I will repair any / all rooms of their choice

 

Colors would be agreed upon by us and them. When they moved in, they like a "majority" of our colors, but Smalls bedroom DID NOT fit in.

 

What are your guy's thoughts??

 

KillJoy

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You can also do a rental increase request, but you have to give them a certain notice, I think one full month before increase is standard and opt them a new lease for the current rate with no increase for signing a new lease.

 

Just another option that doesnt cost you a thing to do.

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I am wanting them to re-sign. I am thinking of this:

Re-sign for 1 year, I will repaint 1 room of their choice

Re-sign for 2 years, I will repair any / all rooms of their choice

Colors would be agreed upon by us and them. When they moved in, they like a "majority" of our colors, but Smalls bedroom DID NOT fit in.

 

What are your guy's thoughts??

 

Paint is easy and cheap, you, me and they know that. Does the place need any other improvements / upgrades that they would enjoy having and you would benefit from long term?

 

We have rental units and each term I usually upgrade one thing, dishwasher, carpet, improve counters, etc., to use as both a thank you to them and to help me continually improve the property.

 

Listen to what they like and see if you can find something like the above. May cost a little more but again, you both win. I'd likely do the paint for them too. I did carpet and floors in another place and they loved us for it and actually began taking better care of the place too.

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That's just it.... When they moved in, the place was top notch. New Carpet, Tile Floors, Fresh Paint (most all walls). They did not mention a THING they did not like. :( Paint is all I can think of....

 

Perhaps Carpet cleaning? They do have 2 dogs. It would be a benefit to us as well...

 

KillJoy

 

Paint is easy and cheap, you, me and they know that. Does the place need any other improvements / upgrades that they would enjoy having and you would benefit from long term?

 

We have rental units and each term I usually upgrade one thing, dishwasher, carpet, improve counters, etc., to use as both a thank you to them and to help me continually improve the property.

 

Listen to what they like and see if you can find something like the above. May cost a little more but again, you both win. I'd likely do the paint for them too. I did carpet and floors in another place and they loved us for it and actually began taking better care of the place too.

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That's just it.... When they moved in, the place was top notch. New Carpet, Tile Floors, Fresh Paint (most all walls). They did not mention a THING they did not like. :( Paint is all I can think of....

 

Perhaps Carpet cleaning? They do have 2 dogs. It would be a benefit to us as well...

 

Talk to them. I bet they will share with you how they like the place and area. I have a couple in one of our units that's having another baby so I offered them a new washer and dryer set. A nice one too. Appliansmart FTW and they signed. Units stay with me though and that's in the lease.

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I have a property management company I've used for the last 7 years. Only charges me 6% a month and maintenance/repairs are dirty cheap.

 

That being said, if you want to keep your renters you can't guess what they want. Definitely ask them what would keep them and don't be afraid to offer to split costs for upgrades/remodels. Their cleaning should be part of your rental agreement??? That being said, renters suck at maintenance so it may be a nice thing to do a carpet cleaning...

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