How To Reduce Tenant Turnover
Our conversation today is about how to reduce tenant turnover, and one of the most important things you can do (and the easiest) when working with tenants is to show up when you are needed.
If a tenant calls with a maintenance issue, do whatever is needed to take care of it.
Responding in a timely manner to tenant requests is key to keeping a tenant happy and in place.
We like to use a software system so that when a tenant puts in a maintenance request, a text message goes out immediately to the people who need to know and respond.
Another thing you can do to keep your tenants around is to answer their questions right away.
If tenants ask you something or need information, provide a response as quickly as possible.
Some questions might require a bit of digging and you won’t be able to turn it around immediately, but you can assure them that you will find their answer as soon as possible.
If there is a question about rent or yard work or the neighborhood, give them an answer so they feel like they are important and heard.
You want your tenants to take pride in the property, so treat them with respect and be responsive.
Make sure you handle any security concerns.
If one of our tenants has their home broken into or there are issues at the property and a request for security lighting or door locks are made, we take those requests seriously.
We make it a top priority because we don’t want our tenants to feel unsafe in the property.
There are easy things you can do to improve security such as lighting and new deadbolts.
According to the lease, we could probably ask tenants to pay for these things, but as owners we believe in keeping our renters safe, so we think paying for these security upgrades is the responsible thing to do.
Finally, treat your tenants professionally.
We like to treat tenants the same way we treat our property owners; as business associates.
They are paying rent, we are providing a place to live and there is an agreement in place.
Make sure it’s a business relationship.
Treat all of your tenants professionally, even if you have tricky situations, such as tenants who are late rent payers.
When this happens, communicate what is expected and what your contract states.
There is no need to yell, threaten or berate anyone.
When tenants feel like they are being listened to, treated fairly and respected, they will stick around and you will not have to worry too much about frequent tenant turnover.
If you’re looking for the best property management company in Salt Lake City, contact us today!
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