A profitable rental home’s secret is attracting and retaining high-quality tenants. This specifies finding renters who pay on time, care for the property, and hit it off with the neighbors. But just because you’ve filled the vacancy doesn’t denote your job is over. One of the biggest mistakes a property owner can make is banishing those same tenants by reason of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Luckily, there is a lot that property owners can do to keep a good renter. Possibly the simplest and most significant method is to establish good relations with the tenants by checking in on them now and then. Good communication can make a big difference toward a pleased, satisfied tenant.
This strategy works so well with a second, similarly crucial means: being proactive about maintenance and repair. Residents want to reside in a home that is in good condition and admire a landlord who responds promptly to repair requests and performs regular maintenance without being questioned. A property owner who displays good property maintenance practices will, in addition, 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 giving them more direct involvement in caring for the property. Ask the tenant how they feel about the rental home and if anything needs maintenance or repair. Many owners hesitate to ask such questions, nervous that renters will call for expensive or unreasonable repairs or replacement items. On the other hand, think of 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 asked for.
If a quality renter is looking into a move, try to discover why they are leaving and whether there’s anything you could offer them to stay. Overall, if a tenant is moving to another rental house in the same area, there’s a particular reason that can be countered or an issue that can be solved. Take into consideration that keeping a quality renter is a way more profitable strategy than functioning as a revolving door rental house.
Ultimately, tenant retention is an art that can be grasped and developed after a while. The great news is that the professionals at Real Property Management Northern Arizona can help. We comprehend what it takes to discover and retain quality renters in the Mohave Valley area and nearby. We make healthy tenant relationships look simple and can deal with your daily communication. If you want to learn more contact us or call 928-757-7368.
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.
