There are many factors to being a rental property owner and a landlord, but if you already have experience leasing out property to renters, then you know that tenant turnover is inevitable, and just a part of the process.

Some renters will move at the end of their lease due to personal reasons, and others may decide it is time to part ways due to their level of customer satisfaction, or a lack thereof. 

Review our list below to find out the top 8 most common reasons why your tenants might move on after their lease expires. 

Tenant Move-Out Reason #1: The Space Is Too Small

Many renters are at the stage in life when they are just starting out on their own, just getting out of college, or they just got married. Often after living in an apartment for a while, the tenant may decide that they need more space, and they will need to move to something larger. The reason could be deciding to house with a roommate, having their new spouse move in, or if they are having kids.

Tenant Move-Out Reason #2: Rent is Unaffordable

There are a couple of reasons that rent may become unaffordable for the current tenant occupying the space. They may have experienced an illness or lost their  job. On the flip side of that, as the landlord, you may have increased rent to stay current with the market trends for the area. This increase may have not been in your tenant’s allotted budget.

Tenant Move-Out Reason #3: New Job

A new job may force your tenant to move out. Often companies will transfer their employees to other locations, or they may be relocating to accept a totally new position altogether.

Tenant Move-Out Reason #4: The Space Is Too Large

Once the kids have gone away to college, the parents may be looking to find something smaller to suit their current needs. Usually a downsize will allow extra money in the budget to use for other purposes, thus making it an attractive option to move out.

Tenant Move-Out Reason #5: Change In Relationship

Marriage, divorce, or separation from a long time partner, may result in the necessity to move. The renter may need a smaller space or may not be able to afford the monthly rent by themselves.

Tenant Move-Out Reason #6: Problems With Maintenance

If a tenant has had a lot of maintenance problems in the unit they have rented, or if the maintenance issues have not been addressed in a timely manner (or at all), there is a good chance they will try to relocate to a new property, hoping there will be a more effective response or fewer issues at the new place.

Tenant Move-Out Reason #7: Neighbors

While every renter knows that you will have to be flexible and adapt to your neighbors when living in an apartment community, sometimes there are disagreements between neighbors that cannot be resolved. In a situation such as this, your current tenant may take their lease expiring as an opportunity to say goodbye to the problem with that neighbor and move out.

Tenant Move-Out Reason #8: New Location

Everyone enjoys a change of scenery every now and then. Although your tenant may have had a good experience in the home or unit that they have rented, they may just be ready to move to experience something new. 

They may also be interested in switching locations in order to be closer to shopping, a certain school, or various amenities that may now peak their interest. 

These top 8 various reasons your tenant might move out and move on are just an overview of what may be going through the tenant’s mind as their renewal time draws near. Looking at the situation from a fresh perspective may give you leverage you need to handle the situation with a more personalized approach.

Follow the Thousand Hills Blog next week to find out how to take the information learned about these move-out reasons and to offer a solution that will benefit both you and the tenant. Using that personalized approach may help you secure another lease agreement and satisfy everyone.

If you need assistance managing your property, or if you would like to discuss how the management service Thousand Hills Realty, Inc. offers will help you retain your tenants, call us today at (417) 337-8081.