The strategy to a profitable Uniondale rental home is to attract high-quality tenants and to retain them. This includes finding prompt-paying tenants who take care of the property and also get along well with the families and people in the area. But just because you’ve solved the vacancy problem, it doesn’t mean that the work is finished. One of the more serious errors a property owner can do is to drive away those tenants due to neglect or failure in communication.
It’s good that there are many things that property owners can do to keep high-quality tenants. Perhaps the most critical thing you could do is to develop a nice relationship with the tenant by paying them a visit from time to time and checking in on them. Good tenant communication can go a long way towards a happy, satisfied tenant.
This tactic works well when done together with a second, equally critical approach: being proactive about the upkeep of the property. 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 models good property maintenance practices will inspire their tenants to be proactive and do their part.
On top of regularly scheduled maintenance, owners can improve tenant retention by involving them more directly in taking care 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. Some owners avoid asking these types of questions. They’re afraid that the tenants would request repairs or replacement items that are unreasonably expensive or unnecessary. 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.
In the event that a quality tenant is considering the option of moving, try to figure out the reason why; then try to see if you can offer them anything to convince them to stay. Often, if a tenant transfers to another rental house nearby, 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 Landmark has professionals that are willing to help. We understand what is needed to find and retain quality renters in Uniondale. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. If you want to know more about how we can help you with tenant relations, don’t hesitate to contact us online or call us at 516-522-2859.
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.