Lowering your tenant turnover will maximize your ROI and help you avoid vacancies. To keep that turnover rate low, it’s important to ensure your best Chula Vista tenants are happy living in your rental home.
When you’re establishing a tenant retention plan, think of your tenants as customers. They pay rent, and just like with any customer, you need to show them that you appreciate and value them. When you find and place high-quality tenants, doing everything you can to keep them will help all parties have a better rental experience. Today, we have some tips on lowering your tenant turnover.
Screen for Long Term Chula Vista Tenants
Attract great residents who are likely to renew their leases year after year and stay for the long term.
This requires a strategic screening process. Well-qualified tenants will pay rent on time and take good care of your Chula Vista rental property. They’re also more likely to stay for more than just one lease term. When you’re screening applications, identify the tenants who have a history of staying in place for several years. Make sure you’re following all fair housing laws while you screen, and take every step you can to choose a high-quality, long-term tenant. This is the best place to start when it comes to tenant retention.
Proactive Communication Retains Tenants
Tenant communication is critical when you want to keep tenants happy and reduce your vacancy and turnover rates. This is where it can be beneficial to work professional Chula Vista property managers. A management company will maintain ongoing communication and develop excellent relationships with your tenants. If you are managing on your own, make sure your tenant’s needs are being met. Remain responsive and accessible.
Your tenants will need to know how to contact you. It’s vital to be available 24 hours a day in case there’s an emergency at the property. Many tenants leave the property they’re renting because their maintenance issues are not resolved or because they can’t get in touch with their landlords. This is a terrible reason to lose your tenants.
Pay Attention to Rental Property Maintenance
Emergency maintenance problems require your immediate attention. If a tenant calls to report that the property is flooding or the toilet in a one-bathroom home isn’t flushing, you need to get these things fixed right away to keep your tenants safe and the property habitable.
A landlord focused on tenant retention will respond with the same sense of urgency when there’s a routine repair need. A clogged garbage disposal might not seem like a big deal, but your tenants will appreciate your immediate response. It’s also a good way to protect the condition of your Chula Vista investment property.
Demonstrate Appreciation to Your Tenants
There’s a lot you can do to make your tenants feel special and appreciated. Make a note of their birthdays, and send a card. Leave a welcome basket in the property when they move in that includes small housewarming presents like towels and soap or magnets. Keep them informed when things are going on with the neighborhood or in the building.
These are a few of the best tenant retention tips we employ. If you’d like to hear more about how to reduce vacancy and keep tenants happy in Chula Vista, we hope you’ll contact us at Encore Realty.