Top 10 Ways to Keep Tenants
1. Treat them as though they are the most important people in your life.
Because they are. They allow you to make a living.
2. Keep rent low
Don’t overcharge. Charge similar rates to the other apartment complex’s around you. Price your rates at reasonable prices, and prices that match your complex’s quality.
3. Keep maintenance costs low
Only charge tenants for maintenance when it is absolutely necessary. If they are constantly getting charged for your stuff breaking, they will be opted to move. Also, they may bring in their own people to fix things, making them resent you and allowing you to know less about how your products and equipment are working.
4. High Availability
Make sure you always have maintenance people available. No tenant wants to sit in leaking water, a freezing apartment, or a hot apartment.
5. When they ask you to fix something, fix it.
Don’t avoid problems, and don’t put things off. When something is broken, fix it. It will save them hassle and you money.
6. Fix it now
When there is a problem, fix it right away. If they have to continue to remind you and bug you they are unlikely to sign again. It can also save you money by fixing things before they get worse.
7. Offer discounts and special perks
Such as, free parking, free internet access, free cable, furnished, a gym etc.
8. Give incentives for recommendations
For example, if a tenant recommends you to a friend, pay their first month utility bill.
9. Stay in contact with them so they know you care
Offer e-mail that include easy ways to pay rent, information on how to take care of their apartment, ways to save money on energy bills, and even decoration ideas.
10. Most importantly, take care of your property
Nobody wants to live in a run-down apartment. Keep it clean, and keep all appliances running properly. Along with all electric outlets, heating/cooling devices and plumbing.
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