Common Reasons Why Renters Move Out
A tenancy is a short term agreement, it is not meant for the long term. It is a fix for a situation, until the tenants find permanent housing, or move jobs, or settle down. It is always going to be an agreement with an end, and so it is always very possible that tenants will move out.
Landlords face challenges in attracting high-quality tenants, but holding on to them for as long as possible is of paramount importance. This will not only save you the trouble of locating replacement tenants, but it may also spare you the misery of a vacancy. Vacant properties cost money, they do not earn money and they are a burden to the landlord, so the time that a property is vacant needs to be as minimal as possible.
On the other hand, some renters suddenly disappear. We doubt there is nothing you can do to prevent that from happening, although many landlords might disagree. Having an understanding of the most typical tenant turnover causes can offer you a chance to prevent problems in some areas and provide food for thought in others.
Common Reasons Why Renters Move Out?
- Need for bigger property – Moving in with a loved one, having a kid, working remotely, starting a business out of one’s house, desiring or requiring better indoor/outdoor links, etc. all need extra space.
- Cannot afford rent – Some landlords increase the rent every year, which can force tenants to find a new place to live. Financial hardships, such as the loss of a job or an increase in living costs, may also play a role.
- Noisy neighbours – Good tenants may be scared away by loud and threatening next-door neighbours. Although it may appear that you have no control over the situation, there is still a chance that you can find a solution.
- Poor property maintenance – Maintaining and fixing up rental homes should be a priority. Tenant turnover is possible if maintenance issues are ignored. Tenants will not be patient with persistent or unsolved concerns such as clogged drains, leaking roofs, broken windows, or pest infestations.
- Job Change/Relocation – Some renters must relocate because of a change in employment. They need to find an affordable place to live, as their new job’s salary could be lower than expected. Tenants may be required to vacate their rental because of a job transfer.
There are always reasons why tenants move out which could be preventable, or could not be, but with good communication between the tenant and the landlord, everything is manageable
