Tenant turnover rate is one of the most frustrating aspects of renting out properties, as it can leave property owners with financial issues. However, turnover rates don’t ebb and flow without cause, as it directly correlates to the tenant’s overall rental experience. If you want to decrease vacancy rates and retain tenants longer, here are three tips to help you improve tenant satisfaction.
Make It Easy To Communicate With You
However you decide to communicate with your tenants, you should be accessible and easy to get in touch with. While you may be unable to respond to them 24/7, tenants should know your schedule, the best way to contact you for day-to-day issues, and how to get in touch in an emergency. Clearly defined expectations for communication and consistent contact are critical to forming a solid landlord-tenant relationship with healthy boundaries. To make things easier, you can also provide templates for situations such as crisis communication and maintenance requests. This makes it easier for tenants to communicate their needs and lets you tackle them quickly and efficiently.
Update and Maintain the Property
Taking pride in your property is the number one way to show tenants that you care about their rental experience. Updating amenities when you can and prioritizing maintenance requests keep the property in shape, making it more comfortable to live in. No one wants to deal with an oven that won’t stay hot or a dryer that won’t work. You don’t have to spend thousands getting the most expensive high-end technology but replacing and repairing appliances when necessary is incredibly important.
Conduct Meetings and Use Feedback
Setting aside time to meet with your tenants face-to-face helps build trust and a better line of communication. It helps you meet their individual needs and ensures you don’t appear as a faceless entity they never get to know. In building this relationship, tenants feel more comfortable sharing their experiences, opinions, and critiques, essentially letting you know what to do to retain them. Worst-case scenario, they don’t renew their lease but leave you with a better idea of how to satisfy the next tenant better to keep them around.
Ultimately, the best thing you can do to help improve tenant satisfaction is to meet them where you can and take pride in caring for and maintaining your property.
If you’re struggling to attract or retain tenants, need help tackling maintenance requests, or need assistance with any of your responsibilities as a landlord, Excalibur Homes is here to help. We’re a rental property management company in Jacksonville, FL, and we know how hard it is to keep a rental running smoothly. That’s why we’re dedicated to meeting your needs and helping you meet the needs of your tenants.