A profitable rental home’s secret is attracting and retaining high-quality tenants. This involves finding renters who pay on time, care for the property, and bond with the neighbors. But just because you’ve filled the vacancy doesn’t certainly mean your job is over. One of the biggest mistakes a property owner can make is unwittingly driving away those same tenants on account of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, there is, in actual fact, a lot that property owners can do to keep a good renter. Perhaps the simplest and most crucial action plan is to establish good relations with the tenants by checking in on them at regular intervals. Good communication can make a major contribution toward a fulfilled, satisfied tenant.
This strategy works pretty good with a second, equally pertinent routine: being proactive about maintenance and repair. Residents want to dwell in a home that is in good condition and want a landlord who responds promptly to repair requests and performs regular maintenance without being called for. A property owner who consistently shows good property maintenance practices will, at the same time, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
In conjunction with regularly scheduled maintenance, owners can enhance tenant retention by imparting them a more direct involvement in caring for the property. Ask the tenant how they truly feel about the rental home and if anything needs maintenance or repair. A lot of owners hesitate to ask such questions, worried that renters will ask for expensive or unreasonable repairs or replacement items. But really, assess 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 wanted.
If a quality renter is studying a move, try to figure out why they are leaving and whether there’s anything you could offer them to stay. Generally, if a tenant is moving to another rental house in the same area, there’s a definite reason that can be countered or an issue that can be managed. Keep in mind, keeping a quality renter is a definitely more profitable strategy than, regrettably, operating a revolving door rental house.
Finally, tenant retention is an art that can be easily learned and developed in due time. The positive news is that the professionals at Real Property Management Dade can expertly help. We know precisely what it takes to ascertain and retain quality renters in the Cutler Bay area and nearby. We make nurturing healthy tenant relationships look hassle-free and can handle your frequent, daily communication. If you want to know more contact us or call 305-501-1511.
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.
