Property Management companies all have strategies to keep their best tenants, as well as a strategy for tenants who needs to go. You need to make the tenants realize that their property is the best option there is. A good tenant retention plan should be put into action to keep tenants satisfied and happy.
Here are some factors you may think into consideration to make your tenants stay:
- Well maintained property. Nobody wants to stay in an unkempt and neglected property, make sure everything is the way it is when they first moved in.
- Clear and precise contract. Make sure there is a full disclosure of the entire contract before the lease is signed. Extra fees and stipulations can be a problem later on if its not stated in entirety.
- Abrupt response to complaints or suggestions. Complaints should be addressed within 24 hours after its been filed, it will make tenants feel they are heard.
- Availability. Giving out good service may not be simply enough to tenants, being available in person can help in renewing their contract. It can also be a good opportunity to discuss lease renewal negotiations 6 to 9 months in advance.
In the end, its all about providing first rate service to tenants who feel their needs are being taken cared of, will have no problem renewing their lease agreements.
