Real Estate Gladiators is an industry leader in the property management industry serving Issaquah, Bellevue, Kirkland, the greater eastside and surrounding areas.
Tenants today want more than a well-maintained property in a desirable location. They’re looking for an outstanding rental experience, complete with responsive service from their landlords and property managers. Tenant retention is important to maintaining healthy cash flow and increased ROI, so make sure you’re doing everything you can to place and keep good tenants.
Embrace Technology: Go Mobile
Convenience is extremely important to tenants, so do everything you can to make the experience easy and efficient. You should allow them to pay rent and make property maintenance requests online. Mailing in a check is clumsy, time consuming, and only invites late payments. Provide electronic platforms for payments, and do the same when repairs are needed. Online maintenance reporting is not only easier for tenants; it also provides you with a written documentation of the work that was requested and performed on your property. When tenants can apply for a home, submit a maintenance request, and pay rent from their mobile phones, they’ll feel like their convenience is important to you, and they’ll appreciate those tools.
Communication and Availability
Automated SMS messages when rent is received or work is scheduled can save you and your tenants a lot of time and hassle. Use email to communicate and make sure you’re available to your tenants when they need you. Most of your tenants don’t need to have in-person conversations, and they don’t want to pick up the phone and call you. They’ll likely prefer the ease and swiftness of text messages and emails. A good property manager will be willing to communicate with their tenants in ways that make sense for the renter. Follow up, and do what you say you’re going to do. You cannot make a promise and then not keep it.
Take Care of Maintenance and Repairs
One of the most common reasons that tenants don’t renew their lease is a lack of responsiveness when it comes to maintenance. Make sure you take care of repairs immediately, no matter how minor they seem to you. Keep your tenants informed during the scheduling process, and then send them an email to make sure the work was done to their satisfaction. When you take their needs seriously, you provide a great rental experience and keep them happy.
Demonstrate your Appreciation
Show your tenants that you appreciate them, especially when they pay rent on time, take care of your home, and follow the terms of their lease. When it’s time for them to renew, offer small incentives. A new appliance, a professional carpet cleaning, or upgraded landscaping can be a big deal to a tenant who is trying to decide whether to renew the lease or look for something else. Offer tips and ideas for what to do around town, share coupons and discounts. Check in with your tenants from time to time and find out if there’s anything you can do to make their rental experience a happier and more comfortable one.
These are just some of the ways to provide an excellent experience to your good tenants. If you’d like more help keeping tenants happy, we have some additional thoughts. Contact us at Real Estate Gladiators to hear more.
