Roughly one-third of renters won't renew their current leases. If you're a property manager, you want to be sure your best tenants don't fall into that category. That means making sure you're putting tenants first in your approach to property management.
Read on to learn more about the role of property managers in maintaining tenant satisfaction!
Make Maintenance a Priority
You need to maintain your buildings well as a property manager. Invest in routine maintenance of HVAC and plumbing to avoid catastrophic issues down the road. And do deep cleans to all units before new tenants move in.
Additionally, you'll want to remember that appearances matter. Fresh paint on the exterior of a building and nicely landscaped properties show that you value your tenants. Even when there's strong housing demand in Houston, you don't want to skimp on maintenance and upkeep.
Communicate Clearly
As a property manager, clear communication is critical. Tenants will appreciate knowing about things like upcoming maintenance. They'll also like reminders about rent due dates and other critical information.
They'll expect prompt communication when they submit repair requests, too. Respond via phone or through a messaging portal to let tenants know you're addressing the problem. And after a technician has serviced an issue, offer follow-up communication to make sure everything is working properly.
Communication also extends to tenant disputes. You'll want to mediate these situations quickly so they don't escalate. And you want to ensure that your tenants feel safe.
Provide Strong Amenities
A good rental property offers appealing amenities to attract tenants. Amenities can include things like a clubhouse with exercise equipment. Amenities also include covered parking spots, community gardens, and pools.
Offering amenities beyond a clean living space can give you an edge. And in a competitive real estate market, that's critical.
But you'll need to maintain your amenities, too. After all, no one will use a dirty pool or workout space. That translates to regular cleaning and updates.
If this all seems like a lot to handle, outsourcing these responsibilities to a property management company can make life easier. They can offer a professional presence so you can focus on expanding your investments.
Offer Incentives
Incentives, like reduced rent, are great ways to attract and retain good tenants. Especially for long-term tenants, it can pay to sweeten the deal. Start lease renewal conversations early so you can be competitive in an active Houston real estate market.
Maybe you can offer a free covered parking spot for a year. Or maybe you could reduce or eliminate the fee for pets. Other incentives can include offering an upgrade to a larger rental unit or one with a better view.
Understand the Role of Property Managers
Property managers can make or break a tenant's experience. Focus on offering clear communication and strong property maintenance so tenants feel appreciated. And use incentives to keep your best tenants.
At Precision Realty & Management, we've been serving the Houston real estate market since 1989. We can help you with anything from lease renewals to management reports. Contact us today to learn more!
