A profitable rental home’s secret is attracting and retaining high-quality tenants. This suggests finding renters who pay on time, care for the property, and hit it off well with the neighbors. But just because you’ve filled the vacancy doesn’t depict your job is over. One of the biggest mistakes a property owner can make is, without knowing, driving away those same tenants on grounds of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Favorably, there is a lot that property owners can do to keep a good renter. Surely the most unproblematic and crucial approach is to establish good relations with the tenants by checking in on them often and regularly. Good communication can certainly go a long way toward a delighted and satisfied tenant.
This strategy works so well with a second, equally weighty action: being proactive about maintenance and repair. Residents want to occupy a home that is in good condition and cherish a landlord who responds promptly to repair requests and performs regular maintenance without being asked. A property owner who regularly shows good property maintenance practices will, furthermore, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Side by side with regularly scheduled maintenance, owners can enhance tenant retention by extending to 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. Many owners hesitate to ask such questions, apprehensive that renters will demand for expensive or unreasonable repairs or replacement items. But, on the other hand, take into account the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than acquiring that new dishwasher (or carpet or sprinkler repair) they appealed for.
If a quality renter is assessing a move, try to identify why they are leaving and whether there’s anything you could offer them to stay. Oftentimes, if a tenant is moving to another rental house in the same area, there’s a particular problem that can be countered or a concern that can be settled. Always remember, keeping a quality renter is a notably more profitable strategy than, sadly, operating a revolving door rental house.
In the final analysis, tenant retention is an art that can be attentively learned and developed over the course of time. The great news is that the professionals at Real Property Management Victory can skillfully help. We know what it takes to identify and retain quality renters in the Birmingham area and nearby. We make cultivating healthy tenant relationships look worry-free and can tackle your conventional, daily communication. If you want to discover more contact us or call 205-793-0700.
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.
