A profitable rental home’s secret is attracting and retaining high-quality tenants. This implies finding renters who pay on time, care for the property, and live amicably with the neighbors. But just because you’ve filled the vacancy doesn’t signify that your job is over. One of the biggest mistakes a property owner can make is inadvertently driving away those same tenants arising from negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, there is, in fact, a lot that property owners can do to keep a good renter. Maybe the most undemanding and crucial solution is to establish good relations with the tenants by checking in on them regularly. Good communication can make a huge difference towards an assured, satisfied tenant.
This strategy works so much better with a second, equally significant action: being proactive about maintenance and repair. Residents want to live in a home that is in good condition and like a landlord who responds promptly to repair requests and performs regular maintenance without being asked. A property owner who always shows good property maintenance practices will furthermore better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
As well as regularly scheduled maintenance, owners can enhance tenant retention by offering them a more direct involvement in caring for the property. Ask the tenant how they are enjoying the rental home and if anything needs maintenance or repair. Countless owners hesitate to ask such questions, fearful that renters will demand for expensive or unreasonable repairs or replacement items. But, on the other hand, seriously consider the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than buying that new dishwasher (or carpet or sprinkler repair) they are requesting for.
If a quality renter is looking to move, try to learn why they are leaving and whether there’s anything you could offer them to stay. Typically, if a tenant is moving to another rental house in the same area, there’s a clear reason that can be countered or a matter that can be tackled. Do not forget, keeping a quality renter is a vastly more profitable strategy than, sadly, working a revolving door rental house.
In the long run, tenant retention is an art that can be fully learned and developed in due course. The amazing news is that the professionals at Real Property Management Pro Care can capably help. We know full well what it takes to find and retain quality renters in the Plymouth Meeting area and nearby. We make cultivating healthy tenant relationships look so simple and can monitor your continuous, daily communication. If you want to find out more contact us or call 215-770-4312.
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.
