Retain Your Tenants

One of the biggest priorities that a Property Manager is always concerned with is how to retain the tenants in your building, especially the good ones! Showing a little appreciation to your tenants can go a long way. Here are a few suggestions on how to retain your tenants year after year.

Daily Greetings

Whether you’ve got front desk or concierge staff or security guards at the entrance of your building, nothing beats a nice warm greeting when your tenants are entering or exiting the building. Train your staff to be friendly and offer warm greetings on a consistent basis. Make your tenants feel welcomed each day with a polite greeting. Using a person’s name is another effective way to not only gain their attention but make them feel important and memorable.

Get to know your tenants

Put your best foot forward in taking time out of your schedule to reach out to your tenants. A simple “How are you” when crossing paths can help build the relationship. Over time, you’ll develop topics and discussion based on your chemistry with that person which will open up a stronger connection with them overall. Similar to the daily greetings, be open minded and willing to listen to your tenants. Hear what they have to say and respond in a genuine and sincere way. As Fredrik Nael would say, “It takes both sides to build a bridge.”

Create Incentives

Some people need a little extra in order to effectively persuade them to committing to a place for a longer period of time. A good way to go about this is to offer them something such as free covered parking, an electronic gift such as headphones or a loud speaker for their home, or even some sort of rent discounts or deals. Even the smallest of incentives can go a long way in keeping tenants happy and retained at your property.

When it comes to a property manager building a good relationship with their tenants, one thing is for sure, it’s an investment and requires your genuine time and effort. The great thing, it’s worth it! Start implementing a few of the ideas above and see how your relationships grow within your community. Keep a positive atmosphere and you’ll never have a problem retaining your tenants!