Keeping your tenant happy is key to the success of any rental. Think of your renters as an unofficial business partner; their continued happiness means consistent income for you. There are various reasons a renter might leave your unit and not all of them are bad. As the landlord you need to do everything within your power to eliminate any reason a tenant may vacate your unit that is in your control. Keeping the points below in mind when developing your customer service will help you maintain positive client relations and a happy renter base–and ultimately keep your units full.
– Quick Response Time:
A tenant’s patience only lasts so long before he or she becomes frustrated with your lack of response to a request. For issues that cannot be resolved quickly, make contact with the tenants and let them know when the concern will be addressed. Then make sure you follow through.
– Respect Privacy:
Although you retain ownership of the unit, renters have a legal right to privacy. Beyond the legal requirements, there are additional ways to respect the privacy of your renters that they will very much appreciate. Offers tenants plenty of advanced warning any time you need access to their units. Giving specific dates and limited time frames of when you will visit the unit allows them to plan. Try limiting your overall access to the unit if possible.
– Fair Prices:
While the temptation to hike rental prices may be high from time to time, do not believe that consistent hikes will always help your bottom line. Vacancies are far more expensive than maintaining a fair and even slightly lower than market rental price. Everyone likes to be treated fairly, and consistent, and reasonable prices will be a great asset to your rental retention efforts. When you have a tenant that consistently pays the rent on time, try to keep that tenant as long as you can.
You should prioritize client relations for the benefit of your business. Not only are happy tenants long-term customers, but they are also great advertisements as they tell their friends of your great service and post positive feedback online, which is some of the greatest advertising. Ultimately, keeping the customer happy will ensure long-term tenant retention, which in turn makes your bottom line happy.
photo credit: Piyushgiri Revagar <a href=”http://www.flickr.com/photos/123868529@N03/23212076862″>Keys are on the door!</a> via <a href=”http://photopin.com”>photopin</a> <a href=”https://creativecommons.org/licenses/by-nc-nd/2.0/”>(license)</a>