Determining a long-term tenant to settle in your rental property can be a lasting task. Employ effective Springville tenant retention strategies to obtain sustainable tenants that you can believe to remain for a longer time. Many tenants stay for the sense of community, others might stay for diminished costs come lease renewal time. Others might be charmed by the gorgeous landscape or maintenance requests process being accomplished easily and punctually by a property management company.
Even with the reasons tenants might stay or go, landlords and property managers should take into consideration the move out costs resulting from allowing your property to become unoccupied. This cost can be hefty and cost you the profit you would have gained if you had retained the tenant or had a program in place to replace the tenant quickly. Having established Springville tenant retention strategies can help you have a close relationship with your tenants. For example, if one of your tenants was considering a move, they would trust you and let you know of their plans. Knowing this information beforehand can give you significantly more time finding a replacement.
One of the first Springville tenant retention strategies to carry out is to perceive well what your tenants like. Some property managers are surprised to hear when tenants have unkind or opposing things to say about them. This can arise for a number of reasons. One of these reasons is your lack of communication with the tenant. Tenants want to be heard. While customer service is a major component of meeting the tenant’s needs, property managers tend to not focus on what really matters when talking with the tenants. Some property managers might have resentment towards such phone calls or interactions as it adds more work to an already busy day. However, what property managers should understand is customer service is the most important part of the day.
Customer Service can be an extensive topic. Springville tenant retention strategies encompass diving intensely into what your customer service experience implies for your tenants. Commonly, customer service shouldn’t be viewed as a task. It is an interaction and relationship building step. An effective open communication relationship will not happen overnight. From the time your tenant signs your rental property lease, you are engaging in a constant testing phase with your tenant. Tenants will test you to see what your communication style is, your updating process, how quick you will respond to requests, and how open you are: where you can either be strict with your job procedures, or relaxed and open to conversation. Some tenants can be busy and unable to take phone calls. Consider sending texts or simple reminders about things rather than accumulating everything into one random long phone call.
Listen and Take Action
Springville tenants demand to be heeded. Whether their side of the story is true or not, there is a rationale that they are reaching out to you. Hear them out with whatever they have to say. A tenant will feel validated when you give them time to voice their opinions. Listening, as in any relationship shows that you care more about just getting the job done and showing them that you care about them as a person. Avoiding saying, “no, we can’t do that” or starting out your sentences or responses with “no.” Always provide a solution or alternative to go along with their ideas even if your solution will cost the tenant money or not be exactly what the tenant feels is right or has in mind as the solution.
Complete in a Timely Fashion
Tenants tend to have a higher admiration when service requests are resolved speedily and efficaciously. Even if you do the job right and to their preferences, if it takes several months to do it, they may still hold resentment towards you. When you finish tasks in a quick and timely fashion, your Springville tenants will trust you more as a property manager. Take time out of your busy schedule to quickly perform the task. You will find that even taking ten-minutes to give proper attention to a service request asked for not too long ago, will go a long way in keeping your tenant around lease after lease.
An effectual tenant retention strategy infers diligent listening and punctuality in carrying out service requests. Picture all the possibilities that you can produce as you direct your attention more on the relationship part with your tenants. Interested in learning more about Real Property Management Utah County? Contact us online or call us at 801-224-0033 today and request a free assessment for your Springville property.