A profitable rental home’s secret is attracting and retaining high-quality tenants. This entails finding renters who pay on time, care for the property, and connect well with the neighbors. But just because you’ve filled the vacancy doesn’t imply your job is over. One of the biggest mistakes a property owner can make is dismissing and eventually driving out those same tenants resulting from negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, there is, in truth, a lot that property owners can do to keep a good renter. Presumably, the most uncomplicated and salient activity is to establish good relations with the tenants by checking in on them at regular intervals. Good communication can make a world of difference toward a happy, satisfied tenant.
This strategy works really great with a second, equally essential action: being proactive about maintenance and repair. Residents want to take up residence 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 demonstrates good property maintenance practices will likewise better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Besides regularly scheduled maintenance, owners can enhance tenant retention by granting them a more direct involvement in caring for the property. Ask the tenant how they prefer or like the rental home and if anything needs maintenance or repair. Many owners hesitate to ask such questions, uncomfortable and scared that renters will demand expensive or unreasonable repairs or replacement items. In contrast, seriously think of the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than paying for that new dishwasher (or carpet or sprinkler repair) they wished for.
If a quality renter is contemplating a move, try to ascertain 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 an exact reason that can be countered or a problem that can be handled. Take note, keeping a quality renter is an immeasurably more profitable strategy than, unfortunately, operating a revolving door rental house.
Ultimately, tenant retention is an art that can be assimilated and developed later on. The exciting news is that the professionals at Real Property Management Sterling can skillfully help. We ascertain what it takes to identify and retain quality renters in the Colchester area and nearby. We make growing healthy tenant relationships look manageable and can settle your repeated, daily communication. If you want to understand more contact us or call 802-861-6468.
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.
