A profitable rental home’s secret is attracting and retaining high-quality tenants. This includes finding renters who pay on time, care for the property, and are friendly with the neighbors. But just because you’ve filled the vacancy doesn’t connote your job is over. One of the biggest mistakes a property owner can make is discouraging and finally driving away those same tenants on account of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, in point of fact, there is a lot that property owners can do to keep a good renter. Possibly the most trouble-free and significant idea is to establish good relations with the tenants by checking in on them fairly regularly. Good communication can contribute greatly toward a pleased, satisfied tenant.
This strategy works exactly with a second, likewise significant undertaking: being proactive about maintenance and repair. Residents want to stay in a home that is in good condition and favor a landlord who responds promptly to repair requests and performs regular maintenance without being asked at all. A property owner who illustrates good property maintenance practices will, in addition, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Coupled with regularly scheduled maintenance, owners can enhance tenant retention by providing a more direct involvement in caring for the property. Ask the tenant how they appreciate and like the rental home and if anything needs maintenance or repair. A number of owners hesitate to ask such questions, fretful that renters will call for expensive or unreasonable repairs or replacement items. Except, seriously consider the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than procuring that new dishwasher (or carpet or sprinkler repair) they solicited for.
If a quality renter is weighing on a move, try to understand why they are leaving and whether there’s anything you could offer them to stay. In general, if a tenant is moving to another rental house in the same area, there’s a specific problem that can be countered or a burden that can be taken care of. Know that keeping a quality renter is a massively more profitable strategy than merely working a revolving door rental house.
In conclusion, tenant retention is an art that can be understood and developed over the long haul. The very exciting news is that the professionals at Real Property Management Colonial can skillfully help. We totally understand what it takes to locate and retain quality renters in the Roanoke area and nearby. We make growing healthy tenant relationships look so easily undemanding and can manage your day to day communication. If you want to know more contact us or call 540-595-7411.
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.
