resident retention. Whether you’re managing a residential complex or a commercial one, being able to keep your residents means a steadier stream of income, less hassle associated with finding new residents, and more. Long-term residents are the dream of any property manager, and there are steps that you can take to make it easier to keep your residents for longer periods of time. 

Here are some of the key steps worth taking to ensure that your residents stay with you for as long as possible. 
 

•    Be Approachable – Don’t be the ‘evil landlord’ who is hard to reach and who barely seems to have time to devote to their residents. The friendlier and more approachable you are, the easier it is to build a strong relationship with your residents.

•    Build Those Relationships – Speaking of which, the stronger your relationships with your residents, the better. People are more likely to stay somewhere that they feel comfortable, and if they have a good connection with their property manager it can lead to much better things for everyone involved.

•    Review the Lease – The simple truth is that the majority of residents just don’t read their leases. To offset this, be sure that you review the primary factors that stand out regarding it. For example, things like pet policies or smoking policies, garbage services, repair procedure, and so on should be discussed before they sign. You can’t make them read the lease, but you can review the important points easily enough.

•    Respond Quickly – If something stops working, it can lead to serious stresses for your residents. Be responsive to their needs, and take care of problems as soon as you can to help ensure that you’re giving them reason to stay around. 

•    Be Honest – Don’t make promises that you can’t keep, and don’t hide the truth. Residents appreciate it when you’re honest regarding everything, and there is very little to be gained from being dishonest. Just tell the truth, stick to your word, and be consistent. It’s enough to ensure that you get the best retention possible.

All in all, it’s not that difficult to maximize retention of your residents if you just pay attention to how you approach the process of property management. To learn more about how to boost retention and improve your bottom line, contact our team today.