How to Keep Tenants Happy for High Retention Rates

by | Jun 24, 2013 | Real Estate

To make the most of your property investments, you need a rental management Lombard agency on your side to keep tenants happy, so they will renew their leases year after year.  It is much more cost-effective to keep the quality tenants you have than it is to continually replace them each year.  The added benefit is that you will get a great reputation, so prime tenants will be waiting to snap up your vacant properties as soon as they come open.  There are several ways you can keep tenants happy.

Respect Tenants and Treat Them Right

Respect goes a long way.  Always respond to your tenants quickly if they have an issue, and listen to their suggestions for improvement.  Put them first if you expect to make the most from your rental properties.  Happy tenants mean high retention rates.

Make Things Easier

Make things easier for your tenants.  Online bill payment, online maintenance requests, streamlined tenant referrals, and other things will make their lives much easier.  In today’s modern age of technology, all property management companies should offer these services anyway.

Be Creative to Keep Tenants Happy

All property management companies are trying to compete for the best tenants.  If you do not treat your renters well by giving them incentive to stay, they will simply go to someone else who can offer them a better housing deal.  Consider putting an incentive in place, such as making their lease payments smaller if they consistently pay their rent on time for a certain period of time.  If you do not want to lower the rent permanently, you could always give them a percentage off of one month.  If they see your efforts to make them happy, they will appreciate it.

Upkeep and Customer Service

People want to live in nice surroundings where they feel safe.  If your rental units are looking their age, then it is probably a good time to invest in upgrades.  If you take care of repairs when they happen, then things will not build up to where they become unmanageable.  Areas that are kept nice have lower crime rates as well, and this is a big plus for tenants who want to live in a good area of town.  Customer service is also important.  The service you provide can make or break whether or not a tenant renews their lease.

RPM DuPage County offers rental management services in Lombard and Illinois.  They are a full-service rental agency that has plenty of local experience. Contact them today at (630) 427-2200.

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