The strategy to a profitable Chester rental home is to attract high-quality tenants and to retain them. This involves finding tenants who pay punctually, maintain the property, and treat the neighbors well. But just because you’ve found people to fill the vacancy, it doesn’t mean the work is over. One of the greater mistakes that a property owner can do is driving those good tenants away due to carelessness or lack of communication.
Luckily, there are a lot of things property owners can do to retain good tenants. Perhaps the easiest way is to develop a good relationship with the tenant by visiting them regularly and checking up on them. Good tenant communication can go a long way toward a happy, satisfied tenant.
This approach works great when paired with a second, equally important method: being proactive when dealing with maintenance and repair. Tenants want to stay in a home that is well-maintained and they appreciate a landlord that, in addition to responding promptly to repair requests, does regular maintenance without being asked. A property owner who displays good property maintenance practices will influence their tenants and urge them to do their part as well.
Aside from regularly scheduled maintenance, owners can make tenant retention better by involving them in the maintenance of the property. Consider inquiring from the tenant how they are liking the rental home and if anything in the property needs repair or maintenance. There are some owners that don’t want to ask such questions. They believe that the tenants will ask for unreasonable repairs or costly replacement items. But think about what the other option is: if the tenant leaves, you’ll be paying so much trying to find a replacement and making preparations to get the place ready for a new tenant. You’ll surely spend a lot more than if you just buy that new washing machine (or carpet, or sprinkler repair) that they requested.
If the case arises that a quality tenant is considering a move, try to find out the reason and whether or not there is anything you could do or offer so they would stay. Normally, if a tenant is moving to another rental house in the same vicinity, there’s a specific reason that can be countered or an obstacle that can be overcome. Remember, keeping a quality tenant is a far more profitable strategy than operating a revolving door rental house.
At the end of the day, tenant retention is a talent that can be studied and perfected over time. The good news is that Real Property Management NJ Elite have professionals that are willing to help. We understand what is necessary to find and retain renters of good quality in Chester. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. Don’t hesitate to contact us online or give us a ring at 908-955-7487 to know how we can help you with your tenant relations.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.