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End of Year Resident Retention

Resident and Landlord Happily Shaking HandsAs the end of the year is near, it is the perfect time for you to reflect on the accomplishments, or improvements, that were made during 2017 to your rental property. While many other industries are in full force preparing for the holidays, many times owners can feel that this is a season to slow down in terms of maintenance and property management. When you adopt this mindset, it is easy to let repair and maintenance tasks fall through the cracks; however, this can have a negative effect on your tenants.

However, the holidays are the perfect time for homeowners to focus on their family and friends, making property management services even merrier this time of year. This ensures that you can properly enjoy your holidays while your tenants do the same. Don’t start the new year on a bad foot with your residents if you have neglected important repair issues. This can often lead to tenants not renewing their contracts in the following year, then you are left searching for new tenants.

Many people establish New Year’s resolutions that are quickly forgotten, but we encourage you to start good property management habits at any time of the year and stick with it to improve your retention rate.

Check out these two tips to start the new year with very merry residents:

1.      Respond Promptly

Nothing is more frustrating during the holiday season than waiting in long lines, only to receive less-than-cheerful customer service. While you are an investment property owner, it is important that you use a property management team that responds promptly, and does so in a professional and positive manner. This establishes a good rapport with your residents and influences their decision on where they will live next year.

2.      “Holiday Hours”

Property management can be a handful of a job, with many repair emergencies happening in the middle of the night. Both you and your tenants will be happy when your property management team continues this service through one of the busiest times of the year.

Follow these tips this holiday season and you will already off to a good start in having higher retention rates for your new year. If you would like more information about our property management services, contact us online or call us at 225-389-6860 today.

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