The best way to have a profitable Roanoke rental home is to draw in and keep the best tenants. This involves finding tenants who pay punctually, maintain the property, and treat the neighbors well. But just because the vacancy has been filled, it doesn’t mean that the work is done. One of the larger lapses a property owner can make is driving away those same tenants because of poor communication or neglecting responsibilities.
Luckily, there are a lot of things property owners can do to retain good tenants. Perhaps the easiest way is to develop a good relationship with the tenant by visiting them regularly and checking up on them. Good tenant communication can go a long way toward a happy, satisfied tenant.
This strategy does well when it is combined with a second but equally crucial approach: being proactive about the maintenance and repair of the property. Tenants want to live in a home that is in great condition and appreciate it when a landlord puts in the effort to maintain it. They want landlords that respond quickly to repair requests, but in addition to that, they really like it when they perform regular maintenance without being asked. A property owner who shows good property maintenance practices will be an inspiration for the tenants and influence them to do their part as well.
Aside from regularly scheduled maintenance, owners can make tenant retention better by involving them in the maintenance of the property. Think about asking the tenant how they are liking the rental home and if they need anything repaired or serviced. There are owners that hesitate to ask such questions. They think that the tenants will ask for extravagant replacement items or unnecessary repairs. But look at the alternative: if the tenant leaves, you’ll end up spending a lot more money replacing them and getting the place ready for a new tenant than fulfilling their request for that new dishwasher (or carpet, or stove repair).
If the time comes that a quality tenant is entertaining the thought of moving, try to get the reason for their decision; then figure out if there is something you could offer them so they would stay. Usually, if a tenant is moving to a different rental house in the same neighborhood, there’s a specific reason that can be countered or an obstacle that can be overcome. Remember, keeping a quality tenant is a far more profitable strategy than operating a revolving door rental house.
In the end, tenant retention is a learnable skill that can be developed further over time. The good news is that the experts at Real Property Management Colonial can help. We know what is required to find and retain the best quality renters in Roanoke. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. Don’t hesitate to contact us online or give us a ring at 540-595-7411 to know how we can help you with your tenant relations.
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.
