Tenant Retention

Tenant Retention

Once we find a tenant to move into your rental property, it is extremely important to keep the tenant satisfied so that they will stay in your rental property for as long as possible. Many landlords don’t understand that the costs of vacancy and turnover are a rental property owner’s largest expenses. Therefore, it is wise to do a few nice things for a tenant living in your rental property in order to take care of them and make them feel welcome. Ultimately, the goal is for that tenant to want to stay in your rental property for as long as possible.

So besides taking care of the maintenance issues that your tenant may have promptly, what are some other things that a landlord might consider doing to help make their tenant feel comfortable in their home? One thing is to respect that tenant’s privacy; landlords must make sure that they understand that the tenant has the right to enjoy their home without being interfered with all the time. Tenants who feel comfortable in their own homes are likely to continue living there rather than finding another place to call their own.

thanks! - thumbnailAnother thing that we like to do is to reach out to the tenant throughout the year and say, “Hey thanks for being a great tenant; thanks for paying your rent!” Perhaps around Christmas time you could send your tenant a card with a Starbucks gift card in it; maybe on their birthday you acknowledge them and tell them happy birthday. You could also recognize that they are taking good care of your yard by snapping a picture, sending it to them, and saying, “Thank you for the great job that you’re doing taking care of the yard at the property.” These are small things that you can do throughout the course of the year to make a tenant feel good so that when the time for a lease renewal comes around, they will want to continue to stay in your rental property and pay you rent each and every month.

If you have any questions, or if we can ever help you in any way with your rental needs, please contact us at New Heights Property Management.

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