Three Tips for Landlords About Tenant Retention

As a landlord, you got into real estate to make money, not give it away. In order for you to make money, your unit(s) must have a sufficient number of tenants whose total rent payments exceed your monthly payment. Not only do you need to attract reliable renters, but you also need to find ways to keep them. Here’s what you should know about keeping units occupied.

Property Management

If you’re managing your own property, it’s important that you be fair, communicative and responsive to the people renting your units. If you’ve contracted with a company to manage your units, they need to be professional in their interactions with your renters. Customer service is a key part of any business and when you have residents paying rent each month, they want to feel confident that their requests for maintenance and other needs are being met.

Security and Protection

Irrespective of location and price point, your occupants should feel safe and secure in your property. It’s incumbent upon you to have adequate property insurance to cover damages to the structure, as renter’s insurance only covers tenants’ possessions. On top of that, your rental units should include certain security elements so that people feel secure when at home. This might include a full-time or part-time security guard or security gates and on-site surveillance included with Huntsville security system installation.

Facility and Grounds Maintenance

Rental units that look rundown or dirty won’t attract new tenants, especially ones who will pay rent on a timely basis. It is up to you to make sure that you have sufficient staff to respond to maintenance requests promptly. Just as a homeowner should maintain any lawns and plants, you also need to maintain the grounds at your property. This also includes trash pickup and repairs to the building structure.

As a property management denver co, you’re better prepared for success when you can keep your units filled with satisfied tenants. Customer service, security and maintenance are important to your residents, and therefore, you as well. Negative word of mouth and obvious disrepair are huge turnoffs to potential occupants.