Property Management Tips for Tenant Satisfaction
Keeping tenant satisfaction high may be the biggest factor in successful property management. Attracting new tenants and filling vacancies are valuable skills, and both are inevitable necessities, but keeping current tenants happy and in place is the most efficient way to generate the kind of return on investment you’re looking for as a property investor.
Unfortunately for many property managers, keeping renters satisfied proves to be harder than expected. If you are struggling with high turnover, excessive vacancies, an overwhelming number of complaints, or similar problems with your tenants, here are some tips that may help you turn things around and get back on track to running property that is happy and profitable.
Don’t Compromise on Maintenance and Inspections
Falling behind on maintenance and routine inspections is a recipe for tenant dissatisfaction. It’s safe to assume that your renters will notice any compromise on these basic tasks. If you don’t want them to feel neglected, don’t neglect the property they call home.
It’s important to note that maintenance isn’t just about performing the necessary repairs that arise. It also means taking the preventative measures that stop potential issues before they start affecting your tenants. In the end, it’s worth it. Renters will pay more for well-maintained properties, and therefore, owners make more.
Resolve Complaints Quickly
No one likes being ignored or given the runaround. Set up a system for documenting and responding to complaints so that they are dealt with as soon as possible. Verify with the tenant that you received their complaint and work to address it. Create special contingency plans for emergencies like the heat going out in the winter, etc.
Respect Tenant Privacy
Few things can turn a tenant against his or her landlord faster than a violation of privacy. Anytime you need to enter their unit, provide plenty of notice. This isn’t just good advice. It’s the law in most states. You may own the property, but you must show respect for the tenant’s privacy.
Maintain Open Lines of Communication
Listening to tenants, letting them air their complaints and compliments, and showing your appreciation for them will pay off in a big way. Making sure renters are aware of rules and regulations also can prevent nasty disputes from arising. When a renter is considering renewing a lease, a pattern of open communication can be a key factor in their decision to stay.
Keeping the perfect tenant is probably the only thing harder than finding the perfect tenant. If you follow the tips above, you will significantly raise your chances of having a property full of happy renters.
You can trust New Vistas Corporation for all of the services that go into attracting and retaining happy tenants. We’re the premier property management firm in the Northeast, serving all of New York, New Jersey, Pennsylvania, and Delaware.
Visit our homepage to learn more about the powerful advantages we can give to rental property owners.