A profitable rental home’s secret is attracting and retaining high-quality tenants. This implies finding renters who pay on time, care for the property, and have a good rapport with the neighbors. But just because you’ve filled the vacancy doesn’t equate to your job being over. One of the biggest mistakes a property owner can make is sending them packing and driving away those same tenants because of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately for you, there is a lot that property owners can do to keep a good renter. Probably the most manageable and critical undertaking is to establish good relations with the tenants by checking in on them regularly. Good communication can be very essential toward a happy, satisfied tenant.
This strategy works quite well with a second, equally relevant tactic: being proactive about maintenance and repair. Residents want to inhabit a home that is in good condition and are fond of a landlord who responds promptly to repair requests and performs regular maintenance without being called for. A property owner who consistently portrays good property maintenance practices will, as well, 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 giving them a more direct involvement in caring for the property. Ask the tenant how they view and feel about the rental home and if anything needs maintenance or repair. Numerous owners hesitate to ask such questions, anxious that renters will try to demand expensive or unreasonable repairs or replacement items. Having said that, look into the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than acquiring that new dishwasher (or carpet or sprinkler repair) they requested for.
If a quality renter is taking into account a move, try to find out why they are leaving and whether there’s anything you could offer them to stay. Usually, if a tenant is moving to another rental house in the same area, there’s an express reason that can be countered or a dilemma that can be corrected. Always bear in mind, keeping a quality renter is a much greater profitable strategy than, unfortunately, operating a revolving door rental house.
In drawing things to a close, tenant retention is an art that can be attentively learned and developed as time goes by. The good thing is that the professionals at Real Property Management Cairn can competently help. We assimilate what it takes to identify and retain quality renters in the Smith Mountain Lake area and nearby. We make cultivating healthy tenant relationships look so easy and can take charge of your typical day to day communication. If you want to actually find out more contact us or call 434-215-3028.
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.
