Have you ever wondered how you can avoid having to find new tenants and sign new leases? It’s actually pretty simple.
The best way to retain your residents and have them renew their leases year after year is to have happy residents. Happy residents equate to long-term residents, which is your ultimate goal as a landlord. Keeping your residents happy can be time consuming and difficult. This is where a professional property management firm can help.
If you have a single renter, keeping them happy may be as simple as checking in and asking. On the other hand, if you have multiple renters, multiple properties, or other things to do beyond maintenance, this can become a difficult task. If you’re determined to do it yourself, here are a few tips that can help:
- Routine Maintenance
Being proactive and responsive about routine maintenance can mean a lot in terms of your renters well being. In the D.C./Northern Virginia area , this should include things like making seasonal adjustments to prepare for winter, or pest control during the summer. It also includes responding quickly when unexpected issues arise, like leaky faucets. If you are not a full time property manager, it can be difficult to make the time for an unscheduled visit. In contrast, a professional property management company can have someone available around the clock to fix the problem. Professional management companies typically have a dedicated maintenance team on board that can manage this entire process for you in both, a proactive and reactive form.
- Offer Incentives
If you have long-term tenants, or want to have long-term tenants, try offering incentives. If parking places are available, make the spots that are closest to the building or property available to your best tenants. Going above and beyond for renters that are good tenants such as replacing or upgrading light fixtures, faucets, shower-heads, etc. can help make tenants feel that you appreciate them. Other perks may include offering cleaning services from a professional cleaning company for some of the harder to maintain areas like carpets, window treatments, and floors.
- Ease of Communication
Tenants may find it frustrating if they can’t get in touch with you when they need you. Make sure you provide your tenants with all necessary contact information so that its easy for them to get in touch. Typically, if you are the landlord, you’ll be handling all of these calls. One of the benefits of working with a property manager is that they have a team on call for all the necessary emergencies a tenant may experience.
At Gordon James Realty we have an in house team that manages all tenant requests. This facilitates communication with tenants so that they feel that their concerns are addressed on time. We e also serve as a filter between the tenant and the owners to make sure only REAL emergencies are treated as emergencies.
Residents will feel secure in their homes knowing that their needs are taken care of promptly and properly. This in turn will increase your chances of a contract renewal.
- Maintaining Professionalism
Landlords should at all times maintain a standard of professionalism. If tenants feel that their landlord treats them with respect and handles all interactions with professionalism, they will feel more comfortable. This includes giving proper notice before entering a property to do routine maintenance, or being mindful of your tenants schedule when trying to coordinate calendars.
By making yourself available on tenants’ terms, you will make them feel more comfortable. This includes finding out your tenants’ preferred methods of communication and whether or not they prefer emails, letters, phone calls or drop-in’s. In any written communications, use a formal Mr. or Ms. In verbal communication; ascertain whether or not you have reached them at a convenient time. Think of your tenants as long-term business partners that boost the value of the property and they will show their appreciation by staying residents.
- Other Things You Can Do
Although maintenance is the number one key to resident retention, there are other aspects that will help with tenant retention. Communicating with your tenant occasionally by sending them an email reminder to let them know you are available should they have any concerns or questions. Make sure your tenants know you are concerned about their well being. Some ways to do this include: asking if they have any maintenance requests whenever you make a visit to the property. Depending on the size of your property, hosting a community event can also be a good way to get to know your tenants and any concerns they might have.
These tips are key in resident retention, but they aren’t always easy on your own. If you’re looking for someone to help improve and increase your tenant retention, contact a professional property management team.