As a residential property owner, you should always strive to make your tenants happy. You ought to know that a bad experience at your apartment or rental home could prevent them from renewing their lease and finding somewhere else to stay. After all, it is in your best interest to retain your current tenants so you can guarantee turnovers. You are perhaps wondering how you can attract and retain your tenants. Let’s explore some practical steps you can take to keep attract new tenants and keep your existing ones happy:
There is no telling when an emergency will arise. Even though you might not be available 24/7, it would be wise to ensure you respond promptly. If your tenants learn that you are unreliable and unavailable whenever they need your help, they will likely start detesting your levels of customer service. Some might even start considering moving to a different place. The result is that you will lose business!
Enforce all your rules fairly
You should ensure that you have rules for your tenants to adhere to. This should form part of the lease agreement to ensure that the tenants are aware of the rules and regulations. The next key step is to enforce the rules. It would be wise to implement all the rules you make uniformly and deal with anyone who breaks them.
Work with a good property manager
Frankly, overseeing and managing a rental property is not a simple task. In addition to ensuring the units are safe and in good condition, you ought to create a good rapport with tenants to ensure they keep renewing the lease. This is why you are better off going for effective property management services. Find the best property manager to reduce the heavy load on your shoulders. A property manager can also help you control costs and handle the financial aspects of the property. They are also well-trained to handle each tenant professionally. You will attract and retain your clients with a professional helping you run your rental business.
Keep tabs on maintenance
One of the main reasons tenants leave a rental property is because the landlord ignored their maintenance request. It takes less than three lousy experiences with maintenance for a tenant to start hunting for a new place to live. Therefore, it would be wise to conduct routine inspections and respond promptly to maintenance requests when they arise.
Update your units regularly
Prospective tenants will request to see your units before they commit. If the rental looks fresh from a ’90s sitcom, we guarantee it will not sell. Outdated appliances on their last legs will also make your units less lucrative. Therefore, it would be wise to update any fixtures, devices, and furniture in your units to modern standards to attract and retain more clients.
Keep your tenants in the loop
If you want to retain your current tenants, it will help you inform them about any renovations or potential problems in their unit. Imagine coming home after a long day to discover contractors renovating the roof without your knowledge. Even though tenants live in your property, we guarantee they would like some form of control over their space.
Rental units and homes are an excellent and steady source of income. However, the payment will only come if tenants are occupying the units. Building a rapport with your tenants and demonstrating you care about their grievances is a sure way to attract and retain them on your property.