They key to a successful rental experience is finding, placing, and retaining tenants who pay rent on time, take good care of your home, and continue to live in your property for a long time. Today, we are sharing some tips on how to keep your good tenants happy and what you need to do to reduce the expense and stress of tenant turnover with your rental properties.
High Tenant Quality and Tenant Happiness
The first thing you need to do is to find the right tenant. To find a high quality tenant, you need to design your marketing and screening processes strategically. Make sure you find someone with a good record in rental properties and without any prior evictions, criminal convictions, and serious financial problems. Once that high quality tenant is in place, you want to make sure they have a great rental experience. Do everything you can to keep your tenants happy. This will save you a lot of time and money, and it’s also just a generally good thing to do.
Speedy Maintenance Response Times
When your tenants call or submit a request for maintenance, make sure to respond right away. Your response time is going to be key when it comes to tenant satisfaction and retention. Going through the property on an annual basis is called an inside property evaluation. We check the condition of the property and look for unreported maintenance issues or things that need preventative repairs. This allows us to make sure the tenants know that we do care about their comfort, security, and safety. We want them to know that if something needs to be repaired, we will handle it immediately. Getting things repaired quickly, on time, and efficiently is important.
Vendor relationships are also important. You need a list of professional contractors who are responsive and committed to you and your properties. At Prandi Property Management, we are only as good as the licensed property vendors that we use. So, we use very good, responsive vendors.
Providing Value and Communication
The other thing we like to do is let our tenants know that we value them and their commitment to staying in the property. We are proactive in finding out if there’s anything they need or want to report to us. We do this with our walk-through evaluations, and also by communicating on a regular basis.
Many tenants in a single-family home like a one-year lease that’s renewed year after year. So, by not raising the rents too much, we are able to keep tenants in place and happy. We make cost of living increases, but nothing extreme. Our tenants understand the value we provide and they know moving will cost money and the rental market is full of properties with higher prices. Just staying a little under the market with your rents will keep the tenant happy.
We are here for the tenants and we are here for you, our client. Please feel free to contact us at Prandi Property Management if you have any additional questions.