Attracting great tenants is an important goal of most landlords, but once you have found them, you need to know how to keep them. Understanding what quality tenants look for in a rental property can help you to keep vacancies at a minimum.
One of the most important things you can do to retain quality tenants is to be responsive. Do not ignore calls from your tenants. Either answer when your tenant calls or return the call as quickly as possible. Also, consider offering a variety of communication methods by which your tenants can contact you. With options such as cell phones and texting available today, this should not be a problem.
If there is an issue with a unit, make it a point to address the problem quickly. Whether the issue is a squeaky door or a leaky faucet, repair it right away. Never wait until your tenant complains about the issue a second time before you address it. Even if you are busy, be certain that you have a backup plan in place for handling issues. In the event that the problem will take some time to fix, be sure to explain the situation to your tenant so that they are not left wondering what is going on.
In addition to handling repair issues in a timely manner, it is also important to perform maintenance on a regular basis. Rental units should never be left in neglect. Regular maintenance offers more pleasant living for your tenants while also reducing the likelihood of repair issues in the future.
Actively look for ways in which you can please your tenants. Go above and beyond. Ultimately, you are running a business and your tenants are your customers. One way to show your tenants that you appreciate them is to provide a house warming gift. Leaving a welcome basket on the day your client moves into your unit is a great way make a solid first impression. Not only will your tenants likely feel touched by such gestures, but it also lets them know that you are invested in operating your business in a professional manner.
Along those same lines, make it a point to stay in touch with your tenants. Do not wait for them to come to you. Personal notes or an email from time to time are a great way to do this. Most tenants will greatly appreciate such gestures to stay in touch.
Another great way to help retain great tenants is to provide them with a range of payment options, including online payment solutions. Many tenants today keep hectic schedules and may find it difficult to drop by an office to make payments in person. By offering online payment options, you can provide your tenants with a convenient service they are certain to appreciate. Additionally, online payment options also helps to improve the chance that your rental payments will be received on time.
Retaining great tenants requires active participation, but it can pay off beautifully.