What if, instead of having to advertise some of your properties every year and extend move-in specials, you had tenants already living there who re-signed their lease? Many landlords seek to increase tenant retention but aren’t completely sure how to get the job done. Working with a property management company like All County Denver Metro Property Management ensures you have the edge in tenant retention and satisfaction.
Stay Up to Date
How do your properties compare to other rental properties nearby? If your price is significantly higher but you don’t have exceptional service or additional amenities, it only makes sense that tenants would look elsewhere. To increase tenant retention, ensure that you always know what is around you and step up your property as needed to stay competitive.
Don’t Be Afraid to Ask
When a tenant turns in their notice, do you wish them well and let them go on their way? Whenever possible, you should try to complete a no-pressure exit interview with your former tenants. Why are they leaving? Where are they moving to? What changes could have affected their decision to stay? You might be surprised to learn that a simple upgrade or issue was the deciding factor, and you can use that to increase tenant retention in the future.
Screen Your Applicants
Cultivating great relationships with your tenants doesn’t matter if they aren’t paying their rent every month! Aggressively screen applicants using a property management company to see if they’ve been evicted. What is their credit like? Do they have a criminal history? A professional company will follow up with employer references and past landlords to ensure you are renting to a good tenant who will take care of your property.
Work With a Skilled Property Management Company
Property management companies like All County Denver Metro Property Management are the key to increase tenant retention at many properties. By offering responsive maintenance, excellent customer service and making you look excellent, you will have happier tenants that don’t want to leave.
Increase Tenant Retention with Help from All County Denver Metro Property Management
All County Denver Metro Property Management offers all property owners competent and honest property management services. From rental market evaluation to tenant placement, we can assist with all of your needs. Our team of real estate professionals looks forward to hearing from you about how we can make your investment a stress-free asset and keep your tenants happy. Call us at (720) 575-6100 for a free quote.