Five Steps to Improved Renter Retention

In today’s housing market, getting the right renters for your property is no easy feat. That’s why it can be so advantageous to work with a company like AZ Residential Management, who can help make sure that you find the tenants that are right for your rental home. But once you have the renters of your dreams, what can you do to hold on to them? 

The answer is, thankfully, simpler than you might think. We’ve put together a list of five ways that you can not only improve the professional relationship you have with your renters but also increase the likelihood that they’ll continue to call your property home for years to come.

  1. Be Available – When you are reliably accessible to answer the questions, concerns, and complaints of your renters, they will notice. Having a landlord/property manager they can rely on is very important to renters.
  2. Be Prompt – If you are contacted by a renter who has an immediate issue, one of the best ways to build a good relationship with them is to always respond to their issues as soon as possible. It is your responsibility to make sure that things on your property are in good working order and your prompt response to concerns will show your renters that you take your role as a landlord seriously. 
  3. Be Respectful – It may be your right as the landlord to enter your property as needed, it is not just more respectful to your renters if you give them a 48-hour notice of any visit you may need to make but it is also the only legal option. You want your renters to feel comfortable and think of your property as their home.
  4. Be Open to Changes – It may seem easiest to adopt a “no changes to the property” attitude to prevent unapproved projects from potentially causing damage, but if possible, it’s better to allow your renters to make small changes. Renters who are willing to invest in small improvements on your property are far more likely to stick around than those who aren’t.
  5. Be Honest – Never lie to your renters. There is nothing to be gained from hiding the truth about things like maintenance issues, rent increases, policies in your leasing contract or anything that your renters should rightfully know.

If the steps above appeal to you as a property owner and you aren’t already a part of our team here at AZ Residential Management, contact us today! We will be happy to answer any questions you might have about why our business is the right fit for your needs.