Resident Retention ideas

[Jasz]

When you own real estate, it’s important to keep your tenants happy. This isn’t always easy — especially after a long and successful relationship has ended.

Here are some ideas for how to retain your residents:

Make sure all of your amenities are working properly. The longer you can keep people in the same place, the better. If there are any issues with maintenance or service, let them know as soon as possible so that they can address them before moving out.

Offer incentives or discounts for rent or other fees. For example, offer a one-time rent reduction if they pay early or have stayed on time every month. Or give them a discount on utilities if they use less than normal.

Keep the home clean and well maintained by doing regular cleaning and maintenance yourself or hiring an outside company for this task. This will make your property look more appealing to potential new residents, who may be turned off by messiness or poor upkeep.

Make sure all paperwork is up-to-date and accurate before new tenants move in so that there aren't any unpleasant surprises when they sign their lease or buy their moving truck.

 

[Holicent]

The first step to improving your retention rate is to understand how many of your tenants are moving on. This can be done by reviewing your leasing agreements, but it's also possible to compile a list of clients and track their status with an online portal.

The second step is to determine which types of tenants are leaving your property. Are they moving out because they're sick of living in the complex? Do they have kids? Are they having trouble with their neighbors? Is there an issue with the management company?

The third step is to make sure that you're offering all of the incentives you can think of — free rent, no-cause evictions, free cable packages and so on. It's important that you offer more than just money; it's also important that you offer something that will make them feel valued as renters.

Finally, you need to create a welcoming environment for everyone who lives at your complex — whether it's a new tenant or an existing one who wants to stay for another year or two. Make sure there's plenty of parking spaces available so people aren't worried about finding parking spots when they arrive home from work each day; provide amenities like pool tables and gyms so people.