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End of Year Tenant Retention Tips for Rental Properties

Real Property Management Metro Detroit tenant signing leaseAs the end of the year quickly approaches, it is time for you to reflect on the success, or improvements, that were made during 2017. While many other industries are in full swing preparing for the holidays, investment homeowners often get too comfortable or caught up in their own holiday plans which can allow management tasks to slip through their fingers. However, the holidays are the perfect time for homeowners to focus on their family and friends, making property management services even merrier this time of year. Don’t start the new year on a bad foot with your tenants if you have neglected important repair issues. This can often lead to them not renewing their contracts in the following year leaving you to find replacement tenants.

Many people establish New Year’s resolutions that they soon forget, but we encourage you to start good property management habits at any time of the year and stick with it to improve your retention rate.

Check out these two tips to start the new year with very merry tenants:

1.      Respond Promptly

Nothing is worse during the holiday season than waiting in long lines, only to receive less-than-cheerful customer service. While you are an investment property owner, it is important that you use a property management team that responds promptly, and does so in a professional and positive manner. This establishes a good rapport with your tenants and influences their decision on where they will live next year.

2.      “Holiday Hours”

Property management is a 24-hour job, with many repair emergencies happening in the middle of the night. Both you and your tenants will be happy when your property management team continues this service through one of the busiest times of the year.

If you follow these tips this holiday season, then you are already off to a good start in having higher retention rates for your new year.

If you would like more information from Real Property Management Metro Detroit about how to maintain a higher tenant retention rate for your Troy rental home, then contact us online or call us at 248-808-6550 today for more information on our property management services.

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