An obvious but often overlooked goal of a property owner should be to attract good tenants - tenants who pay their rent on time, keep the unit in decent condition and don't disturb the other people living in the building. It's not as easy as it sounds. Most good tenants probably aren't moving, and the bad ones - well, they're just plain bad. Finding quality tenants is the difference between a good investment experience and a rotten one. Which would you prefer?
Finding good tenants is like finding good employees: it takes an ongoing effort. You need to be recruiting all the time even if you don't have any vacancies. Murphy's Law dictates that tenants will leave in bunches, forcing you to move quickly to replace the pending lost cash flow. If you've developed a waiting list of people interested in living in your rental property, when the time comes you'll be able to bring them in without too many out-of-pocket expenses.
There are many things landlords can do to make their property attractive to both existing tenants and prospective ones as well. The existing tenants need to be reassured that you are interested in continually maintaining and improving the property, giving them less reason to move. However, should they do so for reasons beyond your control, you'll have a unit to market that's in first-rate condition. Here are some suggestions for how to achieve this ideal environment:
Attracting good tenants is all about providing excellent customer service. The better you are at meeting legitimate needs, the better the quality of tenant you will have now and into the future.