{"id":607,"date":"2020-06-04T16:09:36","date_gmt":"2020-06-04T21:09:36","guid":{"rendered":"https:\/\/www.padleads.com\/blog\/?p=607"},"modified":"2020-10-25T08:23:38","modified_gmt":"2020-10-25T13:23:38","slug":"reasons-and-tips-to-motivate-tenants-to-renew-their-lease","status":"publish","type":"post","link":"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/","title":{"rendered":"Reasons and Tips to Motivate Tenants to Renew their Lease"},"content":{"rendered":"\n<p>A good tenant is not that easy to come by. A vacancy is not always easy to fill in. Because of this, landlords often find it <a href=\"https:\/\/www.padleads.com\/blog\/4-ways-to-decrease-property-management-stress\/\" target=\"_blank\" rel=\"noreferrer noopener\">stressful<\/a> whenever a good tenant&#8217;s leasing contract is nearing its end.<\/p>\n\n\n\n<p>The reason why you should encourage lease renewal is to enjoy the following benefits:<\/p>\n\n\n\n<ul><li>You don&#8217;t have to go through the tedious process of marketing your vacant unit and <a rel=\"noreferrer noopener\" href=\"https:\/\/www.padleads.com\/blog\/screening-tenants-how-landlords-should-do-it\/\" target=\"_blank\">screening new tenants.<\/a><\/li><li>Your vacancy rate would be low, so you can ensure a steady income from your business and maximize profit.<\/li><li>It&#8217;s easier to deal with a tenant with who you are already familiar. Adjusting to a new tenant takes a lot of time and effort.<\/li><\/ul>\n\n\n\n<p style=\"font-size:15px\"><em>Related article: <a href=\"https:\/\/www.padleads.com\/blog\/increasing-the-odds-of-long-term-tenancies\/\" target=\"_blank\" rel=\"noreferrer noopener\">Increasing the Odds of Long-term Tenancies<\/a><\/em><\/p>\n\n\n\n<h2>Tips to Encourage Tenants to Renew<\/h2>\n\n\n\n<p>For tenants to consider renewing their lease, there should be an effort on your part to give them good reasons to stay longer. There are a few insights you should consider.<\/p>\n\n\n\n<h2>Remind them ahead<\/h2>\n\n\n\n<p>Most of the time, tenants lose track of how far they are in their tenancy. When the end of a tenant&#8217;s leasing contract is just a few months away, it&#8217;s good to remind them of it so that you can already get an idea if they are interested in renewing their lease.<\/p>\n\n\n\n<p>Asking them ahead will make you know if they have hesitations about renewing so that you can come up with an offer that would remove their uncertainty. Even if they are firm in their decision to not renew, knowing ahead can give you time to look for potential tenants who are willing to wait for your current tenant to leave.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/lightbulb-2692247_1280-2-1024x682.jpg\" alt=\"\" class=\"wp-image-632\" srcset=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/lightbulb-2692247_1280-2-1024x682.jpg 1024w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/lightbulb-2692247_1280-2-300x200.jpg 300w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/lightbulb-2692247_1280-2-768x512.jpg 768w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/lightbulb-2692247_1280-2.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2>Be a responsible landlord<\/h2>\n\n\n\n<p>The same way a landlord wants to keep a good tenant, a tenant also wants to stay with a good landlord.<\/p>\n\n\n\n<p>One reason why tenants don&#8217;t renew a lease is because their landlord is not responsive to their needs, doesn&#8217;t do maintenance, and sees them as cash cows rather than humans. Even if the property is in a convenient location or has useful amenities, a tenant will not stay if the landlord does not treat them right<\/p>\n\n\n\n<p>Make an effort to perform your landlord responsibilities as agreed on the leasing contract: be accessible to your tenants and address their concerns promptly; consider them as partners in business rather than sources of income; be fair and reasonable when it comes to money matters.<\/p>\n\n\n\n<p style=\"font-size:15px\"><em>Related article: <a href=\"https:\/\/www.padleads.com\/blog\/how-to-be-an-ethical-landlord\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to be an Ethical Landlord<\/a><\/em><\/p>\n\n\n\n<h2>Offer incentives<\/h2>\n\n\n\n<p>If you <a rel=\"noreferrer noopener\" href=\"https:\/\/www.padleads.com\/blog\/offering-special-deals-to-potential-tenants-how-to-do-it-right\/\" target=\"_blank\">offer discounts<\/a> to entice potential tenants to rent, why not offer it to loyal tenants as well? If a tenant is on the fence about renewing because of the rent increase, you can waive the increase in the first month of their new lease. Or if they think they can no longer afford the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.padleads.com\/blog\/pet-policy-what-landlords-can-charge\/\" target=\"_blank\">pet rent<\/a> for all their fur babies, then let some of their pets stay rent-free.<\/p>\n\n\n\n<p>This will make them feel rewarded for their loyalty.&nbsp; This may cost you a little money, but compare it with the money you wouldn&#8217;t earn if the unit remains vacant.<\/p>\n\n\n\n<h2>Put a little pressure<\/h2>\n\n\n\n<p>If they are being indecisive, it&#8217;s not wrong to add a little pressure to help them decide. Set a deadline for them. If they don&#8217;t decide by then, let them know that you will consider it as a non-renewal.<\/p>\n\n\n\n<p>It can only go two ways. Regardless of what their decision will be, it still would be an advantage to you if you learn it ahead of time.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/hourglass-1703330_1280-2-1024x682.jpg\" alt=\"\" class=\"wp-image-633\" srcset=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/hourglass-1703330_1280-2-1024x682.jpg 1024w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/hourglass-1703330_1280-2-300x200.jpg 300w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/hourglass-1703330_1280-2-768x512.jpg 768w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/06\/hourglass-1703330_1280-2.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2>DEALING WITH A VACANCY<\/h2>\n\n\n\n<p>There is always that possibility of non-renewal, so it&#8217;s best to be prepared for it.<\/p>\n\n\n\n<p>If a good tenant has decided to not renew their lease, learn to be okay with it and let them go with no bad blood. It&#8217;s part of the rental housing business.<\/p>\n\n\n\n<p>Thankfully, marketing your units is no longer as difficult nowadays because of the rise of the digital era. Most home hunters now look for rental spaces online. Uploading listings on listing syndication websites like <a href=\"http:\/\/www.padleads.com\">Padleads<\/a>, you can extend the reach of your listing to different rental websites with a wide audience.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"718\" height=\"130\" src=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/03\/padleads.png\" alt=\"Apartment Rental Leads\" class=\"wp-image-24\" srcset=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/03\/padleads.png 718w, https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/03\/padleads-300x54.png 300w\" sizes=\"(max-width: 718px) 100vw, 718px\" \/><figcaption>Get More Apartment Lead<\/figcaption><\/figure><\/div>\n\n\n\n<p>Once you receive offers, conduct a thorough screening process. There are a lot of good tenants out there. You just need to know how to weed out the bad ones to find your ideal tenant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A good tenant is not that easy to come by. A vacancy is not always easy to fill in. Because of this, landlords often find&hellip;<\/p>\n","protected":false},"author":5,"featured_media":345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[24,22,13,2,23,19],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reasons and Tips to Motivate Tenants to Renew their Lease - Padleads<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reasons and Tips to Motivate Tenants to Renew their Lease - Padleads\" \/>\n<meta property=\"og:description\" content=\"A good tenant is not that easy to come by. A vacancy is not always easy to fill in. Because of this, landlords often find&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Padleads\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-04T21:09:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-25T13:23:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/04\/helloquence-OQMZwNd3ThU-unsplash-1024x683.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Charles T\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.padleads.com\/blog\/#website\",\"url\":\"https:\/\/www.padleads.com\/blog\/\",\"name\":\"Padleads\",\"description\":\"Guaranteed: more leads for your apartment\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.padleads.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/04\/helloquence-OQMZwNd3ThU-unsplash-scaled.jpg\",\"contentUrl\":\"https:\/\/www.padleads.com\/blog\/wp-content\/uploads\/2020\/04\/helloquence-OQMZwNd3ThU-unsplash-scaled.jpg\",\"width\":2560,\"height\":1709},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/#webpage\",\"url\":\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/\",\"name\":\"Reasons and Tips to Motivate Tenants to Renew their Lease - Padleads\",\"isPartOf\":{\"@id\":\"https:\/\/www.padleads.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/#primaryimage\"},\"datePublished\":\"2020-06-04T21:09:36+00:00\",\"dateModified\":\"2020-10-25T13:23:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.padleads.com\/blog\/#\/schema\/person\/d018f3a3ddcc81e7c85f6213fe12f80b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.padleads.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Reasons and Tips to Motivate Tenants to Renew their Lease\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.padleads.com\/blog\/#\/schema\/person\/d018f3a3ddcc81e7c85f6213fe12f80b\",\"name\":\"Charles T\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.padleads.com\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f4589184468e71c918fb3963b73b56a8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f4589184468e71c918fb3963b73b56a8?s=96&d=mm&r=g\",\"caption\":\"Charles T\"},\"url\":\"https:\/\/www.padleads.com\/blog\/author\/charlespadleads-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Reasons and Tips to Motivate Tenants to Renew their Lease - Padleads","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.padleads.com\/blog\/reasons-and-tips-to-motivate-tenants-to-renew-their-lease\/","og_locale":"en_US","og_type":"article","og_title":"Reasons and Tips to Motivate Tenants to Renew their Lease - Padleads","og_description":"A good tenant is not that easy to come by. 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