While 75% of renters say they like their current landlord, the rest have encountered problems. Top issues include maintenance delays, poor communication, and a lack of professionalism. If you're not improving tenant relations, your tenant churn rate will increase.
You'll have more vacant properties, leading to a drop in rental income. Instead, learn how to boost tenant satisfaction rates. Improve your relationships with tenants using these effective tips.
Establish Communication Channels
When new tenants move in, outline how they can reach you with questions and concerns. For example, you can provide them with access to an online portal. Using a tenant portal will allow you to consolidate communications into one convenient location.
Outline when they can expect to hear back from you. Provide your hours of availability to manage their expectations.
Encourage tenants to communicate. Maintain open dialogue to let them know their concerns matter.
Try to respond to tenants as quickly as possible. Delays may lead to frustrated renters. They may complain about your lack of assistance.
To keep up with inquiries, hire a property manager. They can respond to tenants while you're busy.
Conduct routine tenant satisfaction surveys. Determine where you can improve and implement immediate changes. This will show tenants that you're trying to meet their needs and expectations.
Maintain Profitable Properties
Tenants won't want to renew their leases if your investment properties are crumbling around them. Invest in routine inspections to keep your properties in good shape. Consider offering tenants property upgrades when they're unsure about renewing.
You can hire a property management company to schedule maintenance for you. They can handle maintenance coordination to improve tenant experiences. They'll even implement a preventative maintenance program for essential systems.
Foster a Sense of Community
Organize events and activities to bring your tenants together. For example, you can host a movie night or potluck.
Allow them to remain involved in important decisions. This will help promote a sense of belonging and pride in living in your properties.
Keep Finding Tenants
As you begin implementing these tips to reduce tenant churn, simultaneously market vacant properties. Consider developing a tenant referral program. Your existing tenants can direct friends and family your way.
This will further promote a sense of belonging in the community you've created.
Increase Tenant Satisfaction
Look for ways to improve tenant satisfaction rates. For example, you can:
- Communicate effectively
- Prioritize maintenance
- Take their feedback seriously
- Offer rewards
- Show your appreciation with gift cards
- Send holiday cards
If you're struggling, partner with a property management company. Their proven strategies can boost tenant satisfaction rates. With help, you can retain renters to improve your occupancy rate and ROI.
Improve Tenant Relations Today
Learning how to improve tenant relations could prove crucial to your success as a landlord. Use these effective strategies to maintain stronger tenant-landlord relationships. Remember, you can always ask for support.
Our team at PMI Contra Costa is part of a fast-growing property management franchise. We use proven strategies and state-of-the-art technology to maximize owner profitability.
Discover what makes us the number one property management company. Contact us today for help with your tenants.
