Finding a long-term resident to remain in your rental property can be an intimidating job. You have to employ effective Smyrna resident retention strategies to acquire sustainable residents that you can depend on to stay for a longer time. Some residents stay for the sense of community, while some may stay for lesser expenses come the lease renewal period. Others might be enthralled by the beautiful environment or maintenance requests being processed in an efficient and swift manner by a property management company.
Landlords and property managers should factor in the move out costs associated with allowing your property to be unoccupied regardless of the reasons residents might stay or leave. These expenses can be hefty and could cost you a profit you might have gained had you retained the tenant or had a program set up to replace the resident quickly. Having established Smyrna resident retention strategies can aid you in cultivating a close relationship with your residents. For instance, if one of your residents has thought about moving, they would trust you and give you a heads up regarding their plans. Knowing this information ahead of time can give you significantly more time to get a replacement.
Customer Service
Among the first Smyrna resident retention strategies to apply is to properly understand your residents’ wants and needs. Some property managers are surprised to find out when residents have harsh or negative things to say about them. This can come up for a number of reasons. One of these reasons is a lack of communication with the renter. Residents want to be heard. While customer service is an important component of meeting the resident’s needs, property managers tend to not give proper attention to what really matters when talking with their tenants. Some property managers might have resentment against such phone calls or interactions as it adds extra work to an already busy day. However, what property managers must understand is that customer service is an essential part of the day.
Open Communication
Customer Service can be a broad subject matter. Smyrna resident retention strategies include diving deep into what your customer service experience means for your tenants. Typically, customer service shouldn’t be considered a task. It is a process of interaction and relationship building. An effective open communication relationship will not happen instantaneously. From the time they sign your rental property lease, you are involved in a constant testing phase with your tenant. Residents will test you to uncover what your communication style is, what is your updating process, how quick you will react to requests, and how open you are – where you can either be strict with your job procedures or relaxed and receptive to suggestion. Some residents can be busy and won’t be able to answer phone calls. Send texts or simple reminders about things rather than accumulating everything into one arbitrary lengthy phone call.
Listen and Take Action
Smyrna residents want to be listened to. Whether or not their side of the story is right, there is a reason why they want to talk to you. Hear them out with whatever they have to share. A resident will feel validated when you give them time to express their opinions. Listening shows that you care more than just completing the job and shows them that you care about them as an individual, as with any relationship. Avoid saying “no, we can’t do that” or starting out your sentences or answers with “no.” Always provide a solution or alternate to go along with their ideas even if that solution will cost the resident money or won’t be precisely what the resident feels is correct or has in mind as the solution.
Complete in a Timely Fashion
Residents tend to have a higher appreciation when service requests are resolved effectively and fast. Even if you perform the task correctly and to their preferences, if it takes several months to do it, they could still develop resentment towards you. When you complete tasks in a quick and timely way, your Smyrna residents will trust you as a property manager more. Get time out of your busy schedule to perform the task quickly. You will realize that even taking 10 minutes to give proper attention to a service request asked for not too long ago will go a long way in keeping your tenant around lease after lease.
An effective resident retention strategy comes down to careful listening and timeliness in completing service requests. Imagine all the possibilities that you can make as you focus more on the relationship element with your residents. Interested in learning more about Real Property Management East Cobb? Contact us online or call us at 770-622-5657 today and ask for a free assessment of your Smyrna property.
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