I have heard of different incentive programs that are supposed to increase the length of time tenants stay in a rental home. Such as, earning points for rewards, giving out privlages, parties, etc. I would like to hear if anyone has had any real, measurable success with these but here is my take on them. If they cost anything at all then they are a waste of money. There are some things that a property manager should be doing anyway that will be just as effective or more effective. Also, no matter what you do tenants will eventually move anyway.
In general, your tenants will stay as long as the home is serving their needs. So if you have a good product (the home is nice and well taken care of) and you provide good service (maintenance issues are handled quickly and properly and you are available to answer questions and take care of issues) then they will be happy and stay unless some life event forces them to move.
In the case of a life event coming up, such as a new job, buying a home, or new baby, then anything you offer will be about as effective as offering them a lollipop - meaning they will move anyway.
In short, a tenant wants what we all want. Good service and a good product that meets their needs at a resonable price. Anything else is unneccessary.
Knowing that tenants will eventually move, despite our excellent service, our office has an intense focus on filling vacancies and we have a great success rate at getting them filled fast. See our short video Filling Vacancies on the property owners page of our website, http://www.kasteelproperty.com/short-videos/.
Just one of the many ways we work harder and smarter to protect your investment.
Kasteel Property Management