A profitable rental home’s secret is attracting and retaining high-quality tenants. This actually means finding renters who pay on time, care for the property, and coexist in harmony with the neighbors. But just because you’ve filled the vacancy doesn’t signify your job is over. One of the biggest mistakes a property owner can make is intimidating and eventually driving away those same tenants owing, in fact, to negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Thankfully, there is a lot that property owners can do to keep a good renter. Perhaps the most convenient and critical approach is to establish good relations with the tenants by checking in on them from time to time. Good communication can contribute substantially toward an untroubled, satisfied tenant.
This strategy works fairly well with a second, equally vital methodology: being proactive about maintenance and repair. Residents want to always be in a home that is in good condition and respect a landlord who responds promptly to repair requests and performs regular maintenance without being asked all the time. A property owner who consistently shows good property maintenance practices will likewise better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
As well as regularly scheduled maintenance, owners can enhance tenant retention by guaranteeing them more direct involvement in caring for the property. Ask the tenant if they admire and like the rental home and if anything needs maintenance or repair. A number of owners hesitate to ask such questions, disquieted that renters will exact expensive or unreasonable repairs or replacement items. However, ponder on the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than spending on that new dishwasher (or carpet or sprinkler repair) they asked for.
If a quality renter is contemplating a move, try to become aware of why they are leaving and whether there’s anything you could offer them to stay. Characteristically, if a tenant is moving to another rental house in the same area, there’s a certain reason that can be countered or an agitation that can be addressed. Keep in mind always that keeping a quality renter is a very much more profitable strategy than just operating a revolving door rental house.
In closing, tenant retention is an art that can be easily learned and developed sometime later. The awesome news is that the professionals at Real Property Management Innovation can competently help. We grasp well what it takes to get and retain quality renters in the Forest Hills area and nearby. We make growing healthy tenant relationships look so easy and can oversee your day to day communication. If you want to easily learn more contact us or call 516-570-9275.
Originally Published on April 5, 2019
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
