Last week, Residential Property Manager asked PMs to share their secrets on how they keep their best tenants on side.
Put yourself in a tenant’s shoes
Commenting on the RPM Facebook page, Matthew France had some key words of wisdom.
Treat them with respect, be honest and do what you say you will do. As the old saying goes: Treat others the way you would like to be treated.
Shirley Rowles seconded Matthew’s statement.
Make sure the whole transaction is set up properly from the outset. They expect professional treatment and should get it. I think for too long we've lived with the thought that ‘They are just tenants’ – NO – they are customers with an agreement to which both parties have to adhere.
Conservative rent increases
Elevate Property Group said you need to be reasonable with rent increases.
If they are looking after the property and are showing no signs of leaving, be conservative. We went halves in installing a built-in wardrobe and the tenant was patient with another improvement and as a result we gave them a gift hamper.
Personal phone calls
Justin Spencer said you need to treat them like people, not just as tenants.
We complete 'WOW calls' to our tenants as well as our landlords. It shows that we are genuinely interested in them as well. Of course you still have your 'bad' tenants, but we still call them, and over time they become good because they see we respect.
Communication and organisation
Larissa Kloots said it is important to always keep your tenants up to date if maintenance is taking longer than usual.
Communicate. Even if you don't have all of the information call/email them and advise that you are still looking into it. We have had numerous tenants become investors and chose our agency because we treated them with respect and always followed them up with rental payments, etc. Also, just make sure from the get go that the property is ready to move into. Nothing puts a sour taste in a tenant’s mouth more than having huge problems from the very start – this will turn a good tenant bad!
Amanda Pearce also said to communicate with tenants in all facets of the management.
Reward them for their good tenancy and always be courteous no matter how difficult the situation.
To see the conversation, check out the Facebook post below.
Each week, RPM asks our readership the big questions that the property management industry faces. Respondents will appear in an editorial lead story – so share your opinion and get noticed!