A profitable rental home’s secret is attracting and retaining high-quality tenants. This supposes finding renters who pay on time, care for the property, and get along pretty well with the neighbors. But just because you’ve filled the vacancy doesn’t just mean your job is over. One of the biggest mistakes a property owner can make is dissuading and driving away those same tenants by reason of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Fortunately, there is, indeed, a lot that property owners can do to keep a good renter. Probably the least complex and most beneficial approach is to establish good relations with the tenants by checking in on them at times. Good communication can do much for a well-pleased, satisfied tenant.
This strategy works quite well with a second, equally necessary procedure: being proactive about maintenance and repair. Residents want to dwell 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 asked for it. A property owner who exhibits good property maintenance practices will, at the same time, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Including 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 actually find the rental home and if anything needs maintenance or repair. A few owners hesitate to ask such questions, antsy that renters will impose and ask for expensive or unreasonable repairs or replacement items. But, on the other hand, 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 just buying that new dishwasher (or carpet or sprinkler repair) they asked for.
If a quality renter is evaluating a move, try to understand why they are leaving and whether there’s anything you could offer them to stay. Commonly, if a tenant is moving to another rental house in the same area, there’s a typical reason that can be countered or a problem that can be worked out. Take note, keeping a quality renter is a much more profitable strategy than just working a revolving door rental house.
In the end, tenant retention is an art that can be gleaned and developed in the long run. The marvelous news is that the professionals at Real Property Management Diamond can efficiently help. We fully understand what it takes to encounter and retain quality renters in the Lewes area and nearby. We make cultivating healthy tenant relationships look smoothly easy and can manage your everyday communication. If you want to find out more contact us or call 302-313-7700.
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.
