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When it comes to your multi-family rental property, the most important thing to you is the happiness of your tenants. As a result, you’ve spent the last couple of years looking for ways to improve their experience. If you find yourself struggling to come up with new tactics, you’ll love these four ways to increase tenant happiness. Keep reading for the ultimate tenant retention guide.
The less your tenants have to leave their homes, the happier they’ll be. As the landlord, you want to be able to provide various on-site services. This includes things such as equipping every building with onsite washers and dryers, or other services such as printers and internet.
The less your tenants have to leave to places such as the local library or laundromat, the more appreciable value it will bring to your property.
If you haven’t already, make emergency repairs and services available 24/7. Your tenants will sleep better at night knowing their landlord has provided the services needed for unpredictable problems. It will also be a great example of the care and importance you have for your tenants and their experiences.
If you currently offer different amenities such as parks and pools, it’s imperative to stay on top of the maintenance. If you don’t properly take care of such amenities, it gives a clear message that you don’t care about the type of environment you provide.
To prevent this, take care of minor details and repairs. For example, if your current playground surfacing has rips or cracks, you can easily fix it with a repair kit. If you have plastic playground equipment, you want to regularly clean and sanitize it to assure your tenants they’re safe from the current COVID-19 crisis.
If your current gym equipment is falling apart, invest in new machines. This may seem costly, but it’s an expense that is worth the return. With happy tenants, you will have people coming to you from positive word-of-mouth experiences.
The last way you can increase tenant happiness is to offer rent specials. You can offer things such as $50 to $100 discounts on a month’s rent if a tenant successfully referred a friend. Or you can make things fun by offering holiday rent specials for new apartment applicants.
Your rental property is something you’re incredibly proud of. You’re proud to provide positive living experiences as well as valuable features for your tenants. For that reason, you should utilize these four ways to increase the happiness of your tenants; you’ll find them incredibly helpful and rewarding.
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