Tis’ the season for tenant retention!
Show your tenants how much you appreciate them this holiday season by doing a little something extra. Maintaining a positive relationship with your tenants is a great way to create loyalty and increase tenant retention. Keeping good tenants long-term is the best value you can have for your rentals. So, what can you do to spread a little joy this year?
Follow these tips for simple ways to show your appreciation!
1. Be responsive to requests: Many of your tenants may be dealing with converting their 2 bedroom apartment into a bed & breakfast for their family during the holidays. If they warn you the toilet is not flushing properly, best to check it out now before crazy Uncle Ron unloads the mini-van.
2. Send out Holiday cards: Who doesn’t love getting another holiday card to display proudly on the mantle? Take a few minutes to send out some handwritten notes to wish your tenants a happy holiday season. Put a smile on someone’s face by saying “Thanks a Latte for being a great renter this year, enjoy a cup of coffee on me!” Trust me, it will go a long way.
3. Decorate: I’m not saying you need to compete with The Griswald’s, but having some festive lights on display is a great way to get people in the holiday spirit. Just be sure to have them on a timer, so your tenants aren’t disturbed while they are sleeping!
4. Throw a party: A great way to show tenants your care is to host a holiday party for your building. Maintaining a great relationship with your tenants can take work, get to know them outside of maintenance requests and rent payments.
A happy tenant is usually a long-term tenant, so find creative ways to thank them and show your appreciation! Remember, managing rentals is a business, be sure to treat your tenants like customers. In the end, you may lower turnover, save money and secure quality tenants simply by being an appreciative landlord.