Every landlord knows that good tenants are a truly wonderful thing! Being able to maintain good tenants is the goal for every landlord. When you can get tenants to re-sign a lease year after year, you are reducing the amount of time your investment property is lying vacant, and therefore increasing your earnings.
Here at PMI Richmond we want to help you be successful and part of that is ensuring that your property is providing an experience to your tenants that makes them want to remain year after year. As a top property management company, we are offering these suggestions to help you do just that.
Quick and effective communication
Having rapid communication with your tenants is a great way to build a strong relationship with them. It shows that you respect them and their time. Be sure to always keep tenants informed of any maintenance or visits that will be taking place. It goes a long way to build a strong landlord/tenant relationship to show them that you value their privacy and trust them as well. When communicating, be clear and upfront with your tenants so that no misunderstandings arise later on.
Promptly handle maintenance requests
Make sure to always do your best in finding a quick and reliable vendor to help service your investment property needs. When mishaps occur, it is of utmost importance to your tenants that things get fixed in their homes. It is important to understand that your tenants are being inconvenienced and to find a speedy way to make it right.
Use technology to make things easier
The use of technology can be incredibly beneficial for you and your tenants. Having the ability to pay rent or place service requests online is a great way to make important tasks easier for your renters.
Inspect the property on a regular basis
If you truly care about your property and your tenants, you will be proactive and inspect the home on a regular basis. This will help you understand the conditions your tenants are living in and help you note the state of the property before and after your tenants have resided there.
Reward tenants for on-time payments
There are many ways to do this but a great one is to report your tenants' on-time payments to the three credit bureaus. This can help them out by potentially increasing their credit score by up to 20 points. It also incentivizes your tenants to maintain prompt payment of their rent.
At PMI Richmond we keep all of these things in mind, and much more. When you hire a property management company to assist you in your investment, you are getting more than your free time back. You are getting the best experience for both you and your tenants.