How to Keep Great Tenants in Your Investment Property?

How to Keep Great Tenants in Your Investment Property?

Since 76% of tenants think that their landlord understands their rental needs, they can get frustrated when the landlord doesn't commit to meeting them. Unfortunately, if you're struggling to keep up, you could drive good tenants away and contend with high vacancy rates.

Luckily, good leasing management services decrease the chances of high renter turnaround. Here, we're going to talk about how to keep great tenants in your property for the long haul.

Nurture a Good Landlord-Tenant Relationship

The best way to get tenants to stay is to make sure that they like you personally. If you're friendly and approachable, they'll feel comfortable communicating with you. This makes them likely to stick around since they know they have a responsive and caring landlord.

Send tenants SMS or email messages on their birthdays. Offer periodic raffles for gift cards among your tenants. Perks help you stand out from other landlords in Deland, Florida.

Respond to Requests Promptly

Whether tenants need a lock changed sometime this week or emergency flood assistance, responding promptly to maintenance calls is critical. No one wants to wait for 3 months to have a lock changed or an appliance replaced. These should be attended to within a week.

You legally need to respond to some emergency calls within very short timeframes. Pest infestations need to be contended with within just a day or two. Floods, electrical malfunctions, and the lack of hot water need immediate troubleshooting.

Working with a Deland property management company ensures that you have a fast and responsive maintenance team. We already collaborate with top-notch maintenance and cleaning experts who will be sent to properties within just a few hours of calling.

Screen All Tenants

Tenant screening may just sound like a way to initially get great tenants. You're right that it's necessary for this, but it's also important if you want existing tenants to stick around. After all, you're choosing the neighbors that they need to live next to and see on a daily basis.

Someone with a lot of past noise complaints may disturb existing good tenants. People with criminal records may bring trouble to their doors and disturb the peace and well-being of the entire building. Hire a property manager to use expert tools and resources for screening.

Gather Feedback Regularly

Feedback shows tenants that you care and is an important step toward retaining tenants. Send out an optional and anonymous yearly form inquiring about the state of the unit, the quality of help they receive from your property managers, and how they view tenant relations between themselves and their landlords.

This can give you an idea of what you're doing well and what you're doing better. When you adapt to meet tenant needs, there's a higher chance of lease renewal.

Work With a Leasing Management Company in DeLand, Florida

Now that you know some leasing management tips to keep great tenants in your investment properties, it's time to begin creating listings that stand out from the competition.

At PMI Central Florida, we're committed to helping landlords screen tenants, manage listings, and respond quickly to renter concerns and requests. Get a free rental analysis to learn more about how we can help you turn the highest possible monthly profit from your rental.