Did you know that 43% of tenants hate their landlords? To make matters worse, 77% of these renters say they're planning on moving out because of this.
If you aren't making efforts to delight your tenants, then you may be seeing waves of people moving out. Not only is this terrible for your reputation, but it also cuts into your profits.
An excellent way to combat this is to focus on the landlord-tenant relationship. Read on to see how you can build strong tenant relations to make people happier and reduce turnover.
Respect Their Privacy
We understand that you've invested a lot of money into your property, but you should be able to trust that your renters will take good care of your units. Resist the urge to barge in whenever you want to check up on things.
In Milwaukee, the law says you can only enter after a 12-hour advance notice, unless the tenant allows for a shorter notice. The only exception is emergency situations, so keep this in mind and don't break the law.
Address Maintenance Requests Fast
Things are bound to break down on your property. Just one small issue can make living in a unit unbearable, so you must stay on top of things.
Address maintenance requests promptly and efficiently. In addition, regularly inspect your property to identify and fix problems before they become bigger. This can cut down on maintenance requests and improve the quality of life for your renters too.
Consider using an online portal and property management service for this. They'll save you significant time and energy.
Have Open Communication
Renters want to trust that they can go to their landlords with their questions and concerns. Maintain that trust by being responsive, whether they're asking about maintenance issues or lease-related matters.
An online portal can facilitate open and transparent communication, plus it's convenient too. Make sure you treat your tenants with professionalism and courtesy. Always avoid confrontations and handle disputes in a calm and respectful fashion.
Another vital task is to have regular check-ins. Not only will this keep problems from escalating, but it'll also impress your renters, as they'll see that you're proactive and caring.
Promote Community Building
Some tenants may feel lonely, especially if they're new to the area. Help them make friends with their neighbors by organizing events and activities.
When everyone gets together for fun, the positive atmosphere will encourage genuine connections and friendships. As a result, this can reduce conflicts and make your property a more pleasant place to live.
See Better Tenant Relations With These Tips
Tenant relations are important, and not only for your profits. When you have pleased renters, they're more likely to take better care of your units. They'll stay longer, and they'll also refer you to others.
Ultimately, it's worth it to keep your tenants happy. It'll be a win-win situation for everyone.
To effortlessly keep up with tenant retention, contact PMI of Greater Milwaukee today. Our property management services will easily garner tenant satisfaction.