Ready To Improve Your Tenants' Property Management Experience? 4 Points To Consider
Happy tenants tend to be stay longer, and for landlords that is a very good thing. When tenants extend their leases instead of searching for another rental home, landlords do not have to spend valuable time and resources to attract, screen, and approve a new tenant. This is why investors who want to become more profitable should always pay attention to their tenant retention ratios and work diligently to improve them. If you are a landlord interested in making improvements in your management style to help encourage your tenants to stay longer, focusing on these key areas is an excellent place to begin.
Look over your current screening process
Every tenant wants to enjoy a peaceful, pleasant home life at the end of their busy day. But if there are too many other tenants in the same complex who cause drama or treat their neighbors with disrespect, good tenants may be less inclined to remain. To help remedy this, landlords should make sure all rental application processes include a request for references from a previous landlord and that these references are verified, if possible, before approving the application.
Pay more attention to the condition of your units
Another problem that will often cause tenants to decide not to renew their lease is when their rental units or the entire complex has noticeable condition issues that the landlord is failing to address. Landlords who do not currently have a plan for making regular updates and improvements to their rental properties should consider doing so as soon as possible. Tenants who see that their landlord is striving to provide clean, comfortable, updated housing are more likely to feel good about continuing to make their home there.
Find ways to be more responsive to tenant needs
Tenants who feel like their questions, suggestions, or repair requests are going unanswered will quickly look for another rental to move into when their lease is up. Landlords who have been lax about returning calls, answering questions, or ordering repairs should immediately change their system so that all non-emergency calls and messages will be responded to within a certain period of time and all emergency calls will be instantly rerouted to a live person for more immediate assistance.
Shift daily property management to a professional
The fact is that, as a landlord, you may be too busy to do the things you know you need to do to offer your tenants a better rental experience. If this is a problem you are facing, a good strategy is to hire a professional property management company like Block & Associates Realty to assist you. Doing this will ensure that your tenants enjoy consistently excellent management, which will pay off by encouraging them to renew their leases.