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Tenants are the Lifeblood of your Rental Property

PMI Elevation - Wednesday, September 1, 2021
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Tenants are the lifeblood of any rental property. Finding good tenants is one thing, but keeping them around is another. Every landlord in Colorado wants tenants that stick around for a long time, take care of their properties and never complain when rent goes up. When those tenants land in your property, there are some ways to make sure they stick around. 

There are tons of ways to remain popular as a property manager in Highlands Ranch, but the most effective methods all have something in common: The landlord has to be proactive. Following a few simple rules will not only show your residents that you care about the rental property, but also that you care about them as tenants. 

First and foremost, make sure your tenants are informed of what’s going on with the property. Whether it’s emails or newsletters or texts, make sure that the people living in a property know everything that is happening with that property. If they feel like they’re up to date on everything that’s going on with their home, they’re going to feel more comfortable with you the rental property landlord. 

Also make sure to be up to date in regards to technology. Utilizing things like text messages or having a message portal on the website will go a long way in making the tenant feel like they can reach you at any time, from any device. It also shows that you’re at the forefront of things, and are working to make their life easier should a problem arise. 

The most important thing with communication, and the thing that might go the farthest in helping retain residents, is to actually be responsive. When your tenants have a complaint or are in need of something, respond promptly. Knowing that their concerns have been acknowledged not only lets them know that you’re listening, but it also tells them that all of their issues in the future will be taken care of in a timely manner. That relieves stress for the tenant, which in turn makes things less stressful for the landlord. 

Along those same lines, make sure that the property is maintained. Residents want to live in a place that’s clean and comfortable. That means making repairs in a timely fashion, and being proactive with maintenance. Don’t wait for something to break down that could have been remedied with some upkeep. Just like the technology, this shows your tenants that you’re ahead of the game.

Of course, different tenants have different expectations. Some tenants are in a pit stop, where they’re renting until they can afford to buy a home of their own. Others will outgrow the rental property as their families get bigger. Pretty much every landlord knows (or finds out soon enough) that not all tenants are created equal, and not every renter is going to be a dream tenant. But set yourself up for success by controlling what you can control, and going out of your way to provide tenants comfort. They’ll take notice.

For more information on how to retain tenants for your rental property in Highlands Ranch, contact Jim Shonts at PMI Elevation today.

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