As a landlord, you know the importance of resident retention. What’s better than a resident who pays their rent on time, never causes trouble, and takes good care of where they live? If you can retain good residents, not only will you have less stress, you’ll save time and money. Keeping your residents happy goes a long way toward retention.  Here are six things that can make a difference. 

6) Good Communication

If you receive a call, text, or email from a resident, do not ignore it. Return the call as soon as possible to stay on top of issues and needs. Be attentive and responsive to inquiries, requests, and even complaints. Do whatever you can do to rectify the situation quickly, and if the problem is beyond your control, find a way to handle it. Always keep your resident updated on progress. 

5) Be There

Your residents might be more inclined to stick with you when they get to know you. By all means, don’t show up at the door unannounced (remember good boundaries), but you should visible in the area as often as you can. Be approachable and friendly, taking time to say hello. Some landlords even send cards to residents on birthdays and holidays, but simply thanking them for paying rent on time can go a long way.  

4) Look Good

No, we don’t mean put on your three-piece-suit or party dress; we mean make the living area look great. Use quality building materials and update the appliances. If your stoves look like they came right out of a 1980s sit-com, it’s time to upgrade. Think about new carpets or flooring. Take care of the outside of the building to give people a reason to be proud of where they live.

3) Offer Incentives

Many landlords tend to increase rental prices each year. This offers no incentive for residents to stay longer! When a lease is up, offer renewal incentives to keep your good residents, such as free covered parking, new kitchen appliances, discounts on rent, or cash bonuses. You might even try approving a few home modifications such as new paint in different colors, new flooring, or anything that can make them feel like this is their home. 

2) Kindness Abounds

Your entire staff, from receptionists to maintenance workers, should be trained in friendliness.  Your job is to have a staff that is pleasant to each person in residency. When the entire staff is kind and friendly, it makes people comfortable and want to stay. Remember, you are paying your staff to do a good job. And your residents are paying you for the kindness.  

1) Possibly Pets?

Though many landlords cringe at the thought of a pet policy, allowing even small ones can go a very long way toward resident retention. Many feel that a home truly becomes a home when a pet lives there. And most people do not often want to move if their pet is settled.  As long as you are clear in what is expected, with rules set forth to repair or replace damaged areas and clean up after their pet, this can go a long way toward keeping good people.

There are several other ways you can work toward retaining good residents, and Occupancy Solutions LLC has no shortage of suggestions. We offer techniques and strategies that will keep your residents where they need to be. Give us a call and start planning today.