Tenants move out, and sometimes there's nothing you can do to hold onto great tenants; however, sometimes there is something you can do about it. Vacancies in your Long Beach rentals can affect your bottom line in two ways. First is the lack of income from tenants, and the second is the cost of getting the empty unit back into a marketable condition to fill the vacancy.

It’s well known that keeping great long-term tenants is the ideal way to maintain a steady income stream. Below are the top 3 reasons why tenants move out and how to try to keep them.

Financial Reasons

One of the most common reasons tenants move out is money. Often this occurs after multiple rent increases that may make it difficult for them to afford your rental even if you’re doing everything by the books. Although adjusting the rent based on the market is a good idea, keep in mind that the money gained by increasing rent can easily be undone if it causes the tenant to move out. 

If you have multiple units for rent, consider offering a cheaper team. Alternatively, you can opt to reduce their rent. Sometimes as little as $50.00 can be enough to convince a tenant to stay. This can be worth it in the long term, as you’ll spend more dealing with a vacant rental. You always have the option to re-adjust the rent.

The Apartment is too Small

A tenant may need to move due to needing more space. A couple getting married and having a child may require an additional room or bathroom. A tenant may want to invest in a dedicated office. You can keep that tenant if you have larger rentals.

 In single-family homes with backyards, you can invest in prefabricated office pods, which can provide office space and typically don't require a city inspection before installation. If you have larger rental units, communicate with your tenant so that they can move into one of them. If tenants are happy with their landlords, they’ll usually prefer to stay working with them instead of moving out and dealing with a new, unknown landlord.

Maintenance Issues

Loyal tenants are known to put up with the occasional inconvenience, but once they reach their limit, it's unlikely there will be anything to fix that relationship. Constantly dealing with plumbing issues, roof leaks, electrical breakers turning off, or pest infestations can be aggravating. Taking too long to respond to maintenance requests can make a tenant feel like you don't care about your property, making them think you’re only here to collect rent. An excellent full-service property management company can help if you don’t have the necessary resources. 

The solution is simply to stay on top of maintenance, fix issues before they become problems, and respond quickly to tenant requests. If an issue arises, dealing with the problem swiftly will usually keep tenants happy. Having multiple ways for tenants to ask for repairs can also help, such as a phone number to call or text and an email.

It's normal for tenants to move out. If there is no way for you to convince them to stay, consider asking them if they know anyone looking for a rental. Frequently good tenants will recommend other tenants with good habits. Preventing your tenants from moving out may seem overwhelming for some, but not impossible. If you need help retaining tenant occupancy, consider calling us at (562) 888-0247, or feel free to fill out our free rental analysis to see what your rental could yield today.