The secret to having your San Pedro rental home turn a profit is to attract and retain top-quality tenants. This means getting tenants who pay their rent promptly, look after the property, and get along well with the people in the neighborhood. But just because you’ve addressed the vacancy, it doesn’t mean that there’s nothing left to do. One of the bigger slips that a property owner can do is to push those same tenants away because of negligence and/or poor communication.
It’s fortunate that there are plenty of things that property owners can do to retain high-value tenants. Possibly the most important approach you can take is to establish a good relationship with the tenant. You can do this by checking in on them regularly. Good tenant communication can go a long way towards a happy, satisfied tenant.
This method is highly effective especially when combined with another, equally important approach: being proactive when it comes to the repair and maintenance of the property. Tenants want to live in a well-maintained home and they want it to stay that way. So they really appreciate it when a landlord not only addresses repair requests quickly but also performs regular maintenance without having to be asked. A property owner who displays good property maintenance practices will influence their tenants and urge them to do their part as well.
Together with regularly scheduled maintenance, owners can strengthen tenant retention by including them more directly in the upkeep of the property. Think about getting feedback from the tenant about how they are liking the rental home and if there is something that needs to be 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 consider what the other option is: if the tenant leaves, you’ll spend a lot more on finding a replacement and preparing the home for a new tenant. That expense would be a lot more than buying that new dishwasher (or carpet, or stove repair) that they requested.
In the event that a quality tenant is thinking about moving, try to figure out why they are leaving and ask them if there is anything you could offer for them to stay. Usually, if a tenant decides to move to another rental house in a nearby location, 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 an art that you can learn and perfect over time. The good news is that Real Property Management Southland has experts willing to help you. We understand what is necessary to find and retain renters of good quality in San Pedro. We make healthy tenant relationships look easy and can take care of the day-to-day communication for you. Feel free to contact us online or by phone at 562-270-1777. We’ll be glad to help 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.
