A profitable rental home’s secret is attracting and retaining high-quality tenants. This connotes finding renters who pay on time, care for the property, and bond 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 frightening and driving away those same tenants due, in fact, to negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Encouragingly, there is a lot that property owners can do to keep a good renter. Perhaps the most uncomplicated and integral way is to establish good relations with the tenants by checking in on them often enough. Good communication can be instrumental toward a fulfilled, satisfied tenant.
This strategy works just fine with a second, further pivotal undertaking: being proactive about maintenance and repair. Residents want to keep on staying in a home that is in good condition and fancy a landlord who responds promptly to repair requests and performs regular maintenance without being sought from. A property owner who attests to good property maintenance practices will, in effect, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
With regularly scheduled maintenance, owners can enhance tenant retention by lending them more direct involvement in caring for the property. Ask the tenant how they truly feel about the rental home and if anything needs maintenance or repair. Lots of owners hesitate to ask such questions, concerned that renters will ask them for expensive or unreasonable repairs or replacement items. Be that as it may, consider 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 petitioned for.
If a quality renter is pondering on a move, try to uncover why they are leaving and whether there’s anything you could offer them to stay. Largely, 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 dealt with. Keep in mind that keeping a quality renter is a notably more profitable strategy than working a revolving door rental house.
Lastly, tenant retention is an art that can be manageably learned and developed in due time. The exciting news is that the professionals at Real Property Management West San Fernando Valley can expertly help. We know exactly what it takes to select and retain quality renters in the Chatsworth area and nearby. We make cultivating healthy tenant relationships look light and can act on your frequent and daily communication. If you want to find out more contact us or call 818-727-0100.
Originally Published on April 5, 2019
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