A profitable rental home’s secret is attracting and retaining high-quality tenants. This indicates finding renters who pay on time, care for the property, and get along fine with the neighbors. But just because you’ve filled the vacancy doesn’t point out your job is over. One of the biggest mistakes a property owner can make is driving away, without knowing, those same tenants through negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, there is, in reality, a lot that property owners can do to keep a good renter. Certainly the simplest and vital procedure is to establish good relations with the tenants by checking in on them every once in a while. Good communication can get far toward a glad, satisfied tenant.
This strategy works perfectly with a second, equally principally important approach: being proactive about maintenance and repair. Residents want to be taking up residence in a home that is in good condition and want a landlord who responds promptly to repair requests and performs regular maintenance without being asked. A property owner who presents good property maintenance practices will likewise better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Along with regularly scheduled maintenance, owners can enhance tenant retention by giving them a more direct involvement in caring for the property. Ask the tenant how they find the rental home and if anything needs maintenance or repair. Quite a few owners hesitate to ask such questions, worried that renters will require expensive or unreasonable repairs or replacement items. But, on the other hand, mull over the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than purchasing that new dishwasher (or carpet or sprinkler repair) they needed. If a quality renter is weighing a move, try to sort out why they are leaving and whether there’s anything you could offer them to stay. Usually, if a tenant is moving to another rental house in the same area, there’s an explicit reason that can be countered or a mess that can be put right.
Always remember, keeping a quality renter is a whole lot more profitable strategy than working a revolving door rental house.
In the final analysis, tenant retention is an art that can be fully learned and developed through time. The incredible news is that the professionals at Real Property Management Now can competently help. We ascertain what it takes to discover and retain quality renters in the Grand Junction area and nearby. We make growing healthy tenant relationships look so conveniently easy and can take care of your usual, daily communication. If you want to find out more contact us or call 970-314-7123.
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.
