Investors spend a lot of time thinking about the rent. They spend much less time thinking about how long a good tenant stays. Yet every change of tenant has a cost.
What a changeover really costs
Take a property renting at $650 a week. Two vacant weeks between tenants is $1,300 of lost rent. Add a letting fee, advertising, a final clean and any repairs before re-leasing, and a single changeover can easily cost several thousand dollars. A tenant who stays for three years instead of one avoids that cost twice.
What makes good tenants stay
- Fast, fair maintenance. Nothing damages a tenancy faster than repairs that drag on.
- Clear communication. Tenants want to know who to call and when they’ll hear back.
- Respect. Proper notice for entry, considerate inspections and a professional tone.
- Fair rent reviews. Increases that reflect the market, explained clearly and timed in line with the rules.
- A well-kept home. Small improvements, like a new oven or air conditioning, can make a tenant more likely to renew.
Retention and rent aren’t opposites
Keeping a good tenant doesn’t mean leaving the rent below market. It means reviewing the rent fairly and looking after the relationship, so the tenant sees the value in staying.
How we approach it
At Rentwell, responsive maintenance, clear communication and mutual respect are how we create productive tenancies. It reduces conflict, protects the property and supports stronger returns over time.
Tim Gaynor · 6 min read
Jason Broadbridge · 5 min read