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 have a rapport with the neighbors. But just because you’ve filled the vacancy doesn’t specify your job is over. One of the biggest mistakes a property owner can make is unwittingly driving away those same tenants arising from negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, as a matter of fact, there is a lot that property owners can do to keep a good renter. Likely the most manageable and crucial means is to establish good relations with the tenants by checking in on them at regular intervals. Good communication can make a major contribution toward a delighted, satisfied tenant.
This strategy works really well with a second, additional, effective course of action: being proactive about maintenance and repair. Residents want to stay in a home that is in good condition and so like a landlord who responds promptly to repair requests and performs regular maintenance without being requested. A property owner who portrays good property maintenance practices will, on top of that, 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 giving them a more direct involvement in caring for the property. Ask the tenant how they totally feel for the rental home and if anything needs maintenance or repair. A good number of owners hesitate to ask such questions, troubled that renters will try to obtain expensive or unreasonable repairs or replacement items. Even so, consider the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than putting money into that new dishwasher (or carpet or sprinkler repair) they pleaded for.
If a quality renter is contemplating to move, try to determine 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 express reason that can be countered or a complexity that can be dealt with. Put in mind that keeping a quality renter is a much greater profitable strategy than, in fact, operating a revolving door rental house.
In the final analysis, tenant retention is an art that can actually be learned and developed as time goes by. The terrific news is that the professionals at Real Property Management Hartford Metro/Greater New London can certainly help. We know and identify what it takes to ascertain and retain quality renters in the Waterford area and nearby. We make actualizing healthy tenant relationships look very easy and can take charge of your typical, day to day communication. If you want to discover more contact us or call 860-436-9955.
Originally Published on April 5, 2019
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.
