A profitable rental home’s secret is attracting and retaining high-quality tenants. This denotes finding renters who pay on time, care for the property, and are friends with the neighbors. But just because you’ve filled the vacancy doesn’t actually mean your job is over. One of the biggest mistakes a property owner can make is unknowingly driving away those same tenants for the reason of negligence or poor communication.
Building Strong Tenant Relationships Through Proactive Communication and Maintenance
Happily, there is a lot that property owners can do to keep a good renter. Perhaps the most undemanding and vital approach is to establish good relations with the tenants by checking in on them now and then. Good communication can make a big difference toward a joyful, satisfied tenant.
This strategy works pretty great with a second, equally essential process: being proactive about maintenance and repair. Residents want to reside in a home that is in good condition and delight in a landlord who responds promptly to repair requests and performs regular maintenance without being prompted. A property owner who always displays good property maintenance practices will, in addition, better inspire their tenants to do their part.
Boost Tenant Retention with Open Communication and Solutions
Over and above 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, in truth, like the rental home and if anything needs maintenance or repair. Most owners hesitate to ask such questions, apprehensive that renters will impose expensive or unreasonable repairs or replacement items. In contrast, consider well the alternative: if they move out, you’ll spend far more replacing them and preparing the property for a new tenant than buying that new dishwasher (or carpet or sprinkler repair) they asked for.
If a quality renter is looking into a move, try to uncover 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 a concrete reason that can be countered or a problem that can be solved. Always keep in mind, keeping a quality renter is a more profitable strategy than, sadly, operating a revolving door rental house.
In the end, tenant retention is an art that can be properly learned and developed after some time. The great news is that the professionals at Real Property Management NW Chicago Suburbs can efficiently help. We totally understand what it takes to discover and retain quality renters in the Crystal Lake area and nearby. We make cultivating healthy tenant relationships look simple and can tend to your day-to-day communication. If you want to easily find out more contact us or call 847-737-4800.
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.
