6 Ways to Keep Tenants Happy and Reduce Rental Property Vacancies (Part One)

One of the many hassles of being a landlord is dealing with the stress of vacant units. An important way to reduce rental property vacancies is to find and keep good tenants. Don’t create a situation where renters are disappointed with their choice; instead strive to cultivate contented tenants. Happy tenants take better care of the property and tend to pay their rent on time.

Here are some tips to attracting and retaining satisfied residents:

1. Get Organized

Tenants can become frustrated when the landlord seems disorganized and unable to provide the necessary paperwork, keys, and parking passes on time. Conducting business in a smooth and efficient manner shows your tenant that you are detail-oriented and on top of things. Your attention to detail will help your tenant relax and feel good about renting from you.

Prepare a solid lease that protects both you and the tenant. Conduct a timely walk through so that both parties are clear on any pre-existing damage. At PMI of Houston, we use a state approved lease to safeguard you and your property. We also provide move-in and move-out inspections as well as quarterly inspections with photos and a report.

2. Maintain the property

A top tenant complaint is slow or negligent response to repair issues. Create a system where problems are resolved quickly. Keep the property in good condition and establish a schedule of regular preventive maintenance. At PMI of Houston, we provide 24/7 emergency response that includes an online portal making it easy for tenants to report a problem.

3. Rewards and Referrals Program

Offer incentives for tenants to renew their lease such as interior upgrades, gift cards, or free clubhouse rental. Also consider giving cash bonuses to tenants that refer new renters to you.

Learn more ways to reduce rental property vacancies when this blog post continues next week.

PMI of Houston is a full service property management company serving Katy, Sugar Land, Fort Bend, Missouri City, Richmond, Rosenberg, and the Houston area. We offer competitive and simple flat fees with no hidden costs. Contact us to learn more about our real estate management services.