A profitable rental home’s secret is attracting and retaining high-quality tenants. This points out to finding renters who pay on time, care for the property, and get on very well 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 out those same tenants owing to negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, there is, in actual truth, a lot that property owners can do to keep a good renter. Potentially the most straightforward and relevant tactic is to establish good relations with the tenants by checking in on them intermittently. Good communication can count a lot toward a delighted, satisfied tenant.
This strategy works very well with a second, equally essential tactic: being proactive about maintenance and repair. Residents want to rest in a home that is in good condition and delight in a landlord who responds promptly to repair requests and performs regular maintenance without being prompted. A property owner who constantly displays good property maintenance practices will, in like manner, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Apart from regularly scheduled maintenance, owners can enhance tenant retention by presenting them a more direct involvement in caring for the property. Ask the tenant how they actually feel about the rental home and if anything needs maintenance or repair. Multiple owners hesitate to ask such questions, uneasy that renters will look for expensive or unreasonable repairs or replacement items. With that said, seriously consider the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than getting that new dishwasher (or carpet or sprinkler repair) they sought for.
If a quality renter is taking into consideration a move, try to determine why they are leaving and whether there’s anything you could offer them to stay. Many times, if a tenant is moving to another rental house in the same area, there’s a definite reason that can be countered or a problem that can be resolved. Take note, keeping a quality renter is a much more profitable strategy than, regrettably, operating a revolving door rental house.
In summation, tenant retention is an art that can be mindfully learned and developed through the years. The wonderful news is that the professionals at Real Property Management Champion can capably help. We know exactly what it takes to identify and retain quality renters in the Wilmington area and nearby. We make fostering healthy tenant relationships look trouble-free and can work with your routine daily communication. If you want to actually know more contact us or call 910-638-0190.
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.
