A profitable rental home’s secret is attracting and retaining high-quality tenants. This suggests finding renters who pay on time, care for the property, and get on well with the neighbors. But just because you’ve filled the vacancy doesn’t definitely mean your job is over. One of the biggest mistakes a property owner can make is driving out those same tenants originating from negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, in actual fact, there is a lot that property owners can do to keep a good renter. In all likelihood, the most straightforward and pertinent means is to establish good relations with the tenants by checking in on them every now and then. Good communication can be essential toward a comfortably happy, satisfied tenant.
This strategy works quite well with a second, additionally weighty step: being proactive about maintenance and repair. Residents want to actually stay in a home that is in good condition and like a landlord who responds promptly to repair requests and performs regular maintenance without being asked. A property owner who consistently shows good property maintenance practices will, on top of everything else, 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 offering a more direct involvement in caring for the property. Ask the tenant how they truly like the rental home and if anything needs maintenance or repair. Innumerable owners hesitate to ask such questions, anxious that renters will look for expensive or unreasonable repairs or replacement items. Still, contemplate the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than buying that new dishwasher (or carpet or sprinkler repair) they required.
If a quality renter is seriously contemplating a move, try to know why they are leaving and whether there’s anything you could offer them to stay. Normally, if a tenant is moving to another rental house in the same area, there’s a definite reason that can be countered or a problem condition that can be worked on. Consider that keeping a quality renter is a much more profitable strategy than, in actual fact, operating a revolving door rental house.
When all is said and done, tenant retention is an art that can be truly understood and developed through the years. The positive news is that the professionals at Real Property Management Metro can actually help. We determine what it takes to figure out and retain quality renters in the Columbia area and nearby. We make having healthy tenant relationships look so easy and can work on your routine, daily communication. If you want to find out more contact us or call 410-290-3285.
Originally Published on April 5, 2019
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