A profitable rental home’s secret is attracting and retaining high-quality tenants. This involves finding renters who pay on time, care for the property, and be compatible with the neighbors. But just because you’ve filled the vacancy doesn’t also mean your job is over. One of the biggest mistakes a property owner can make is scaring off those same tenants for the reason of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, in fact, there is a lot that property owners can do to keep a good renter. Probably the most trouble-free and relevant tactic is to establish good relations with the tenants by checking in on them regularly. Good communication can make a world of difference toward an elated, satisfied tenant.
This strategy works pretty good with a second, also substantial tactic: being proactive about maintenance and repair. Residents want to take up residence in a home that is in good condition and take delight in a landlord who responds promptly to repair requests and performs regular maintenance without being requested from. A property owner who manifests good property maintenance practices will likewise better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Added to regularly scheduled maintenance, owners can enhance tenant retention by offering them a more direct involvement in caring for the property. Ask the tenant how they love the rental home and if anything needs maintenance or repair. A number of owners hesitate to ask such questions, anxious and agitated that renters will insist on expensive or unreasonable repairs or replacement items. Nonetheless, assess the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than shopping for that new dishwasher (or carpet or sprinkler repair) they wanted.
If a quality renter is contemplating to move, try to figure out why they are leaving and whether there’s anything you could offer them to stay. Generally, if a tenant is moving to another rental house in the same area, there’s a particular reason that can be countered or an annoyance that can be managed. Be mindful that keeping a quality renter is a significantly more profitable strategy than, as a matter of fact, operating a revolving door rental house.
On that note, tenant retention is an art that can be learned and developed eventually. The great news here is that the professionals at Real Property Management Pioneer can totally help. We grasp well what it takes to find and retain quality renters in the Lewisville area and nearby. We make nurturing healthy tenant relationships look hassle-free and can administer your normal, daily communication for you. If you want to understand more contact us or call 940-435-2526.
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.
