Ideas For Helping Resident Retention
While the amount of people looking for rental homes is at an all time high, it is still important to try and hold on to good tenants. Keeping a current resident is much less expensive than finding and moving in a new tenant.
But how do you keep residents happy enough to stay? Customer service plays a huge role in this. The relationship that renters build with people like the maintenance crew and their Property Manager can make or break a lease renewal. Fortunately, developing the necessary social skills won’t require an additional line in the budget and it can make a world of difference for retention.
Retention Tip #1- Make Eye Contact With Your Resident
Problems occur, appliances break. What is important is that you listen to your tenants and have empathy and compassion for them when issues arise. They’ll build confidence in your ability to problem solve as they realize that you are sincere and ready to help solve the problem. When it comes time to renew their lease, your renters will remember how they were treated and how things were dealt with.
Retention Tip #2- Good Staff Responsiveness
Respond promptly to tenant requests, always. It’s important that any maintenance issues are resolved quickly and professionally. If something can’t be fixed immediately, keep your tenants informed and involved with what is going on. Remember that they are most likely the ones that are having to live with whatever is broken.
Retention Tip #3- Maintain Your Property
Keeping your property looking and operating at a high level is vital to resident retention. Tenants can become dissatisfied with their rental home if they believe it “went downhill,” which can mean that any part of the property was neglected. Keeping your rental home well maintained and in working order will help attract and keep quality tenants that you will feel better about having in your investment.
At On Q PM our staff is committed to providing your tenants with the best possible experience, helping increase retention and overall contentment with their rental home. Your renters are not a distraction, they’re our business.