Many times, we hear property managers say: happy resident, happy property.
There is a lot of truth to that phrase, so today we’re talking about reducing tenant turnover. If you can keep your turnover low, you’ll earn more money on your investment property. There are a few things you can do to keep your best residents.
Property Management St. Louis: Timely Maintenance
If a tenant has an issue with their home or apartment, take care of it right away. You need to respond to all maintenance and repair requests as soon as you can. This helps residents to feel comfortable within their own home and safe in their environment.
Property Management St. Louis: Communication
Open communication is the key to retaining good tenants. Please make sure you maintain an open communication policy with residents. They should feel comfortable coming to you with questions and concerns.
Property Management St. Louis: Community Events
Special events are popular with tenants, and they can help you reduce turnover. Have pool parties, provide days where you have food for residents, and organize special events within the community. This will bring everyone together, and residents can socialize with neighbors and feel like they are part of the larger community.
These are just a few ways that you can make an effort to reduce tenant turnover. If you have any questions about resident retention or property management in St. Louis, please contact us at Select Leasing & Management. We would be happy to share additional ideas.