The best way to having a profitable Universal City rental home is to draw and keep the best tenants. This entails finding tenants who pay their rent on time, tend to the property, and be friendly with the neighbors. But just because you’ve addressed the vacancy, it doesn’t mean that there’s nothing left to do. One of the greatest blunders a property owner can commit is pushing those same tenants away because of poor communication or negligence.
It’s fortunate that there are plenty of things that property owners can do to retain high-value tenants. Perhaps the easiest way is to develop a good relationship with the tenant by visiting them regularly and checking up on them. Good tenant communication can go a long way toward a happy, satisfied tenant.
This tactic works well when done together with a second, equally critical approach: being proactive about the upkeep of the property. Tenants want to live in a home that is in great condition and appreciate it when a landlord puts in the effort to maintain it. They want landlords that respond quickly to repair requests, but in addition to that, they really like it when they perform regular maintenance without being asked. A property owner who models good property maintenance practices will inspire their tenants to be proactive and do their part.
On top of regularly scheduled maintenance, owners can improve tenant retention by involving them more directly in taking care of the property. Consider getting the opinion of the tenant about how they are liking the rental home and if any maintenance or repair work needs to be done. Some owners avoid asking these types of questions. They’re afraid that the tenants would request repairs or replacement items that are unreasonably expensive or unnecessary. But take a look at the alternative: if the tenant leaves, you’ll be spending much more on finding a replacement and getting the home ready for a new tenant than purchasing that new stove (or carpet, or dishwasher repair) that they asked for.
If the case arises that a quality tenant is considering a move, try to find out the reason and whether or not there is anything you could do or offer so they would stay. Usually, if a tenant decides to move to another rental house in a nearby location, there’s a specific reason that can be countered or an obstacle that can be overcome. Remember, keeping a quality tenant is a far more profitable strategy than operating a revolving door rental house.
Ultimately, tenant retention is a skill that can be learned and refined over time. The good news is that Real Property Management Alamo has professionals that are willing to help. We understand what is needed to find and retain quality renters in Universal City. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. Please contact us online or call us at 210-600-5672 to learn more about how we can serve you with your tenant relations.
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