As a landlord, you’re an entrepreneur. You have a place on the leading edge of business, and the opportunities for success are incredible in Little Rock. However, it can be easy to get swallowed up in endless to-do lists and lose track of where your business is actually going. Turnover rate can turn into just another struggle you try to face every day. However, there’s no reason for it to be this way. In fact, solving the problem usually only takes weaving a few new habits into your property management routine.
Stop Tenant Turnover In Its Tracks
Today, we want you to take a moment to slow down, draw in a deep breath, and focus on this blog for a few minutes. We’re going to share some things you can do to give your tenants more reasons to stay in your properties. You may find that you’re already doing several of these things, but they just need to be tweaked a little.
Consistently work to keep your property at its best.
We all want to live in nice places. The nicer the property, the more likely people will want to stay in it. Whatever maintenance needs your property may have, don’t compromise on them. Mow the lawn, keep up with the landscaping, and make sure light bulbs are getting replaced where required. If you aren’t sure what to do, you can always ask your tenants! You would be amazed at how much loyalty you can inspire by being willing to go just a little further, and our team is here to make sure you can easily do so.
Screen your tenants thoroughly.
Your tenants are active participants in the performance of your properties. In a way, they’re on your team. Use our services to make sure your tenants get fully screened. We can ensure that the tenants you accept will be reliable payers, ready to stay for a while, and no other obvious red flags. You can even ask prospective tenants how long they plan to stay. Don’t compromise on the information you need, and let us help you get it.
Request plenty of notice.
Renting is a transient situation by design, and a majority of your tenants will leave eventually. Your job is to extend their time with you as much as possible and put standards in place so that you have plenty of time to absorb their departure and get their unit occupied again. Request at least a month’s notice with the understanding that it won’t always be possible, as life can be chaotic and sometimes, tenants need to move quickly. We will be here to help you no matter the situation.
Maintain your flexibility.
There’s a sweet spot between bending over backwards and being utterly inflexible, and tenants tend to be the most loyal when their landlords are willing to listen without being doormats. For instance, if a tenant struggles to make rent one month, it may be worth giving them a break. That way, you don’t lose a tenant and they have a chance to become more loyal to you. That being said, don’t let tenants walk over you. Be accommodating and kind, but run your business.
Address issues and concerns right away.
Working as a landlord involves a lot of troubleshooting, which a lot of landlords enjoy. You will find that some issues are chronic and others show up only once in a while. Remember that you won’t always have a solution or a fix, but simply being willing to listen to a tenant can go a long, long way. Having a great team like ours on your side can make it a lot easier to manage the issues and make your tenants feel heard.
Turn to Us for Property Management in Little Rock
Little Rock property managers trust Real Property Management because we lend an experienced helping hand in practically every aspect of the business. Let us help carry the weight and ensure your success. Contact us today!
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