The secret to a valuable and profitable Williamsburg rental home is all about inviting and preserving first-rate tenants. This means selecting tenants who pay quickly, watch over the property, and relate well with the neighbors. But just because you’ve rented the vacancy doesn’t mean your task is settled and done with. One of the top oversights a property owner can bring about is scaring away those same tenants due to disregard or failure to communicate.
Happily, there is so much that property owners can do to keep an awesome tenant. Most likely the easiest and most important method is to develop and keep healthy relations with the tenant by checking in on them every once in a while. Good tenant communication can go a long way towards a happy, satisfied tenant.
This scheme works great when incorporated with a second, equally important strategy: being proactive about maintenance and repair. Tenants aspire to settle in a home that is in good working order and delight in a landlord who not only takes immediate action in answering repair requests but also enacts systematic maintenance without being insisted upon. A property owner who shows excellent property maintenance practices will inspire their tenants to execute their part accordingly.
Added to the regularly scheduled maintenance, owners can boost tenant retention by involving the tenant in managing the property. Begin by asking the tenant how they are finding the rental home and if there are things that need maintenance or upgrading. Many owners hold back from asking such questions, fearful that tenants will call for financially excessive or unnecessary repairs or replacement for big ticket items in the home. But ponder on the alternative: if the tenant leaves, you’ll find yourself spending far more to replace them and getting the property ready for a new tenant than getting that modern dishwasher (or carpet, or sprinkler repair) they requested for.
In the instance that a quality tenant is thinking of moving, try to check why they are moving out and whether there’s anything you could offer them to get them to stay. In many cases, if a tenant is moving to a different rental house in the same locality, there’s a specific reason that can be countered or an obstacle that can be overcome. Just remember, keeping a quality tenant is a far more profitable strategy than operating a revolving door rental house.
Lastly, tenant retention is an art that can be learned and refined as time goes by. The good news is that the professionals at Real Property Management VA Peninsula can help out. We understand what it takes to search for and keep quality renters in Williamsburg. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. If you want to get more information contact us online or by phone at 757-251-9188 and we would be happy to help you out with your tenant relations today.
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.