As a property owner or manager, you lose significant income every time a tenant vacates. Plus, you face the immense task of preparing the vacant unit for the next task, which often involves substantial repairs, cleaning, and repainting. This is why you must go the extra mile to enhance retention and reduce turnover.
One of the best hacks for increasing tenant retention is enhancing satisfaction. And you can use the following tips to ensure your tenants are satisfied with your property and services:
1. Create a Welcoming Environment
Tenants are more likely to stay in your property if it has a welcoming ambience, so create it today. Since first impressions matter, work on the exterior first. Invest in proper landscaping with elements that are likely to brighten each tenant’s day, like flowers and well-trimmed trees.
You should also ensure the entire property is clean and sanitary, especially areas that often receive high traffic, such as elevators and hallways. Remember to invest in good lighting, appealing décor, and quality air conditioning systems.
2. Leverage Expert Property Management
You can use Optum property management services to boost tenant retention and eliminate churn, especially if you have or plan to install a fitness centre. With this exceptional service provider by your side, your property will always have a top-notch fitness centre that will boost retention rates exponentially.
Also, consider hiring a professional property manager to screen and vet new tenants. This is incredibly helpful in minimizing issues such as property damage, untimely rent payments, and lease violations that can arise when your units are inhabited by unsavoury individuals. A good manager will also keep tenants happy by addressing pertinent issues promptly.
3. Offer Modern Amenities
Your property must have modern amenities that are considered essential today to attract savvy tenants, especially a gym. If you can, always ensure that you invest in a top-notch fitness facility with popular equipment like dumbbells, treadmills, and stationary bikes. Try to keep it open 24/7 to give everyone a chance to exercise.
Also, consider upgrading your property with smart home features like smart thermostats and lighting. These will allow your tenants to control temperature and lighting remotely, boosting your convenience scores. Lastly, ensure your property has high-speed internet, community rooms, and ample parking.
4. Organize Community Events
Community events can build a sense of belonging among tenants. They also create a vibrant environment where everyone feels happy and contented. A tenant who feels like they are a part of a happy community is highly likely to renew their lease and recommend other potential tenants.
Some of the events you can use to encourage your tenants to stay longer include parties on special days like New Year’s, Christmas, and Halloween. During these occasions, try to create an enjoyable atmosphere with snacks, decorations, music, and such.
Ready to Promote Tenant Satisfaction and Retention?
Evidently, tenant satisfaction is the key to boosting retention rates. If you’d like to keep your tenants happy and satisfied, partner with Plus One, an Optum Company. This company’s team will help you design and create amenities that will make your property outstanding, including a modern fitness centre.
Not to forget, Plus One offers professional services that will ensure your facilities remain in premier shape. Contact its representatives today to find out more.
