A profitable rental home’s secret is attracting and retaining high-quality tenants. This supposes finding renters who pay on time, care for the property, and make friends with the neighbors. But just because you’ve filled the vacancy doesn’t convey your job is over. One of the biggest mistakes a property owner can make is frightening and driving away those same tenants due to negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Luckily, there is, in fact, a lot that property owners can do to keep a good renter. Definitely the most effortless and essential approach is to establish good relations with the tenants by checking in on them sometimes. Good communication can go far toward a delighted, satisfied tenant.
This strategy works excellently with a second, similarly salient practice: being proactive about maintenance and repair. Residents want to be living in a home that is in good condition and love a landlord who responds promptly to repair requests and performs regular maintenance without waiting to be asked. A property owner who constantly portrays good property maintenance practices will also better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
On top of regularly scheduled maintenance, owners can enhance tenant retention by endowing them 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. Quite a lot of owners hesitate to ask such questions, wary that renters will ask for expensive or unreasonable repairs or replacement items. On the contrary, consider the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than investing in that new dishwasher (or carpet or sprinkler repair) they asked you for. If a quality renter is thinking about a move, try to comprehend 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 precise reason that can be countered or a hurdle that can be set right. Call to mind, keeping a quality renter is a lot more profitable strategy than functioning as a revolving door rental house.
Ultimately, tenant retention is, indeed, an art that can be easily learned and developed moving forward. The happy news is that the professionals at Real Property Management Delta can expertly help. We know exactly what it takes to find and retain quality renters in the Newport area and nearby. We make nurturing healthy tenant relationships look so manageable and can attend to your habitual, everyday communication. If you want to actually learn more contact us or call 501-404-0674.
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.
