With over 41% of Rockville residents currently renting, it is no wonder people are jumping at the chance to invest in rental homes. And, while there are certainly some established landlords in the market whose hands have been in the industry for a while now, there is no reason you cannot up your game and go the extra mile for your tenants to ensure they stay your tenants. In fact, without your tenants, you wouldn’t have a rental property business. Thus, it is worth recognizing the good ones and showing them some appreciation.
Providing your Rockville tenants superior customer service is what will set you apart from other property owners your tenants have experienced in the past. And if you employ Maryland’s leading property management company to help, you can guarantee even lower turnover rates, higher tenant satisfaction, and thus, more money in your pocket.
Let’s take a look at some easy ways that you can give back to your tenants. By putting in just a little bit of extra effort, you may convince your tenants to stay in your property long-term. And as you know, high-quality, long-term tenants are the ultimate goal of property owners and property management companies.
Top Ways to Go the Extra Mile for Your Rockville Tenants and Boost Retention Rates
1. Build Good Relationships from the Start
First impressions are important when it comes to placing a new tenant in your Rockville rental property. The tone that you and your property management company set is likely to follow you the entire lease term. Here are some of the easiest ways to go above and beyond for your tenants before they even move into your rental property:
- Handle all communication in a professional manner, thus making the tenant feel comfortable and convinced that leasing from you will be hassle free
- Take the time to thoroughly explain all of the lease agreement terms and provisions without rushing your tenant to sign and move in
- Give your tenant a move-in handbook that contains nearby amenities complete with contact information and addresses, common maintenance tips that will prevent unnecessary repairs, and how to contact the property management company in the case of emergencies, simple repair requests, and basic inquiries.
2. Keep Communication Open at All Times
One of the biggest complaints tenants have, regardless of the type of property they are leasing, the price they are locked in for, or the location they have landed in, is poor communication with property owners and their property management companies. To avoid this, and what is likely to become high turnover rates, consider implementing these communication tips:
- Provide tenants with contact information for all scenarios so they always know who to contact and when each person is available
- Work with a property management company that employs a staff that is knowledgeable in all things property related, no matter what their position is in the company
- Work with a licensed and insured maintenance company that is available on-call, every day, at all hours
- Have an online portal where tenants can easily make maintenance and repair requests
- Make follow-up phone calls after any maintenance or repair has been performed to ensure tenant satisfaction
- Send regular email newsletters updating tenants about community happenings they can get involved in
- Consider encouraging tenants to take tenant surveys to find out what you are doing well and what tenants feel you should work on
In the end, taking a proactive approach to communication with your tenants will help you build better relationships with them. They will trust you more, feel comfortable approaching you about anything, and are more likely to sign a lease renewal come the end of their lease term.
3. Boost Your Rockville Property Security
Feeling safe in your home, whether you rent or not, is important for all families. One of the best things you can do for your tenants, besides invest in rental properties that are in safe neighborhoods, is improve your rental home’s security measures.
Here are some ways you can easily reward your quality tenants with better security measures:
- Install motion-sensor lighting on the exterior of the home to discourage burglars and light up dark paths for your tenants
- Add keyless entry systems to all doors on the property
- Outfit the home with thick window treatments that will stay closed throughout the night and maintain your tenant’s privacy
- Conduct routine window and door inspections to make sure they close and lock properly
- Add an alarm system, consider exterior security cameras, and even use an interior telecom system for easy communication throughout the home in the case of an emergency
Giving your Rockville tenants a reason to feel safe and secure is also going to give them a reason to sign a lease renewal and stay long term. After all, a tenant that feels unsafe is not likely to live in your property for long.
4. Upgrade Your Rental Property
Getting in the habit of routinely upgrading your rental property not only increases the value of your investment in the long run, it means a lot to tenants that are currently residing there. This is not to say you have to upgrade everything in your rental. However, small upgrades such as the following can go a long way when it comes to tenant satisfaction:
- Upgrade old or mismatching appliances
- Change the flooring for long term tenants
- Replace old and worn out light fixtures, faucets, cabinet knobs, and drawer handles
- Have the interior painted with a fresh coat each lease renewal
- Invest in professional landscaping services to spruce up the backyard living space and maintain it for your tenants
- Change out older model windows and doors for more modern styles
These small changes show your tenants that you enjoy having them in your rental property and that they are worth the cost of a few upgrades. In addition, it will allow your tenant to enjoy your property more and give them more reason to stay, which ultimately helps boost tenant retention.
5. Give Them a Little Surprise
Surprising your tenants with a special bonus may not seem like a lot to you, but can mean the world to your tenant. For example, give them a one-month rent discount, pay for one of their utility bills, offer them a gift card to a new local hotspot restaurant, or even give them some cold hard cash.
Altogether, everyone enjoys random acts of kindness. And a surprise coming from a property owner or property management company will be remembered come lease renewal time.
In the end, there are many ways you can foster a positive relationship with your Rockville rental property tenants. If done right, the easy ways mentioned above not only show your tenants they are worth the extra effort, they convince your tenants that leasing from you is the best decision they ever made. What a great way to stay ahead of the competition!
If you are in need of a property management company that can handle going the extra mile for your tenants and for you, contact Bay Management Group today. As an experienced, knowledgeable, and friendly property management company, Bay Management Group has a solid understanding of what it takes to lower turnover rates, increase tenant satisfaction, and keep both our property owners and tenants headache-free.