A profitable rental home’s secret is attracting and retaining high-quality tenants. This entails finding renters who pay on time, care for the property, and are of good standng with the neighbors. But just because you’ve filled the vacancy doesn’t simply mean your job is over. One of the biggest mistakes a property owner can make is driving off those same tenants resulting from negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
But, fortunately, there is a lot that property owners can do to keep a good renter. Maybe the most undemanding and critically important means is to establish good relations with the tenants by checking in on them often. Good communication can be of great value toward a joyful, satisfied tenant.
This strategy works effectively with a second, also critical approach: being proactive about maintenance and repair. Residents want to occupy a home that is in good condition and delight in a landlord who responds promptly to repair requests and performs regular maintenance without being requested from. A property owner who always shows good property maintenance practices will likewise better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Including regularly scheduled maintenance, owners can enhance tenant retention by imparting to them a more direct involvement in caring for the property. Ask the tenant how they truly find the rental home and if anything needs maintenance or repair. A lot of owners hesitate to ask such questions, uncomfortable with thinking that renters will impose expensive or unreasonable repairs or replacement items. Nevertheless, consider the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than paying for that new dishwasher (or carpet or sprinkler repair) they wished.
If a quality renter is assessing to move, try to ascertain why they are leaving and whether there’s anything you could offer them to stay. Typically, if a tenant is moving to another rental house in the same area, there’s a concrete reason that can be countered or a problem that can be handled. Bring to mind that keeping a quality renter is a more profitable strategy than, in fact, operating a revolving door rental house.
At the end of the day, tenant retention is an art that can be realized and developed after some time. The exciting news is that the professionals at Real Property Management Deluxe can help. We truly comprehend what it takes to spot and retain quality renters in the Pequot Lakes area and nearby. We make working on developing healthy tenant relationships look manageable and can tend to your day-to-day communication. If you want to check out more contact us or call 218-454-7368.
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.
