A profitable rental home’s secret is attracting and retaining high-quality tenants. This denotes finding renters who pay on time, care for the property, and get along so well with the neighbors. But just because you’ve filled the vacancy doesn’t actually mean your job is over. One of the biggest mistakes a property owner can make is driving away, without knowing, those same tenants because of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, without a doubt, there is a lot that property owners can do to keep a good renter. Probably the most manageable and pertinent course of action is to establish good relations with the tenants by checking in on them occasionally. Good communication can greatly contribute toward an ecstatic, satisfied tenant.
This strategy works extremely well with a second, equally imperative method: being proactive about maintenance and repair. Residents want to be living in a home that is in good condition and love a landlord who responds promptly to repair requests and performs regular maintenance without being asked first. A property owner who establishes good property maintenance practices will, indeed, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Together with regularly scheduled maintenance, owners can enhance tenant retention by having them a more direct involvement in caring for the property. Ask the tenant how they actually like the rental home and if anything needs maintenance or repair. Several owners hesitate to ask such questions, uneasy that renters will order for expensive or unreasonable repairs or replacement items. But, however, look at the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than buying out that new dishwasher (or carpet or sprinkler repair) they approached.
If a quality renter is seriously thinking of a move, try to unravel 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 a hitch that can be cleared up. Keep in mind, keeping a quality renter is a much more profitable strategy than simply operating a revolving door rental house.
Definitely, tenant retention is an art that can be properly learned and developed in the long term. The excellent news is that the professionals at Real Property Management Key Response can adeptly help. We know precisely what it takes to correctly find and retain quality renters in the Gallatin area and nearby. We make building healthy tenant relationships look conveniently easy and can take control of your everyday communication. If you want to understand more contact us or call 615-953-8700.
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.
