The best way to have a profitable Reno rental home is to draw in and keep the best tenants. 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 the work is finished. One of the larger lapses a property owner can make is driving away those same tenants because of poor communication or neglecting responsibilities.
It’s a good thing that there are many strategies that property owners can implement to keep good 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 toward a happy, satisfied tenant.
This strategy does well when it is combined with a second but equally crucial approach: being proactive about the maintenance and repair of the property. Tenants want the homes they stay in to be in good condition and also really appreciate it when the landlord works hard to keep it that way. They expect landlords to answer repair requests promptly, but on top of that, they really like it when regular maintenance is performed without having to be asked. A property owner who shows good property maintenance practices will be an inspiration for the tenants and influence them to do their part as well.
Another thing that can be done, besides regularly scheduled maintenance, to enhance tenant retention is to involve the tenants more directly in taking care of the property. Think about asking the tenant how they are liking the rental home and if they need anything repaired or serviced. Some owners don’t want to ask these kinds of questions. They’re worried that the tenants will ask for costly or unreasonable repairs or replacement items. But look at the alternative: if the tenant leaves, you’ll end up spending a lot more money replacing them and getting the place ready for a new tenant than fulfilling their request for that new dishwasher (or carpet, or stove repair).
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. Usually, if a tenant is moving to a different rental house in the same neighborhood, 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.
Ultimately, tenant retention is a skill that can be learned and refined over time. The good news is that there are helpful professionals at Real Property Management Corazon. We know what is needed to attract and keep quality renters in Reno. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. Please contact us online or call us at 775-826-1414 to learn more about how we can serve you with your tenant relations.
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.
