You invest a lot of time and money trying to attract top-quality tenants to your rental properties. Too many landlords, this might seem like the hardest battle of them all, but in all reality, the hard work is just beginning. Now that you have tenants in your rental units, you must find ways to keep them. So, what can you do? Read on to find out.
Host a Variety of Events During the Year
To most tenants, the landlord is not much more than the person who collects the rent. If you want to keep your tenants, they need to think of you as a part of their lives. No, this doesn’t mean going out and partying with them or trying to become a “member of their family.” But you can host summer barbecues, maybe throw simple holiday parties. Even if you only have a few tenants, this is still a great way for everyone to connect. However, if any event you decide to host involves food, be sure to ask about any special diets or food allergies first.
Create a Beautiful Home
Your tenants need to feel good about where they live, if they do, they are more likely to stay. Your job is to ensure the common area are well-kept and maintained. Pay close attention to lawns, sidewalks, exterior paint, and trim, keep all aspects of community property as clean as possible. If you stay on top of this, your tenants will be much happier and likely to stay longer.
A Little Gift Goes a Long Way
We all love to receive gifts and that includes your tenants. It doesn’t mean you have to spend a lot of money, but a little anniversary or birthday gift shows that you remember them and that you care. Building this deeper level of connection may be the difference between them looking for a new home and staying.
Listen to Your Tenants
When your tenants send you letters, emails, leave voice mails or talk to you in person, they are trying to reach out to you. Why not send them a monthly questionnaire regarding any needed repairs, routine maintenance, or issues that need to be taken care of? Listen to what your tenants are saying, let them know you have heard their concerns and then be sure to address them as soon as possible. If a tenant tells you they are thinking about leaving, try to find out why and ask them what changes you could make for them to stay. If possible and within the realms of reason make those changes, most will cost less than trying to find a new tenant.
Be There When You Are Needed
One of the biggest complaints voiced by tenants is that their landlord never seems to be there when they are needed. Make it as easy as possible for your tenants to reach out to you. This means using social media services like Facebook and Twitter so they can reach you with emergency requests. Be sure to check your accounts regularly and reply to any requests for maintenance as quickly as possible.
It is the little things in life that make it go better and by taking a little extra time out of your day to let your tenants know you care, you have a much higher chance of retaining quality tenants and spending less money trying to find new ones.