As a long time Houston Texas Property Management company we can tell you without a doubt that tenant retention is one of the keys to success with owning profitable rental properties because, the longer you have your properties rented for means you will have long term cash flow from each rental property.
If you haven’t thought about what you can do to retain your tenants this article will provide you with 3 tips you can use for tenant retention.
Tip #1 – Practice the Art of Regular Communication with Your Tenants
Although you may have the best tenants in the world, you should always practice the art of regular communication with them because, regular communication with your tenants will not only show them that you care and appreciate their business, it will also encourage them to contact you should problems occur at your rental property that need to be fixed or resolved.
Tip #2 – Offer Your Tenants Incentives
Another successful Houston Texas Property Management tip that we can offer you is to consider offering your tenants incentives for doing things like paying their rent on time to reporting maintenance problems or issues to you when they occur. Some of the incentives you should consider offering your tenants include: free Wi-Fi (depending on rental property), free memberships to local health clubs and gift cards from local grocery stores.
Tip #3 – Create a Referral Program
Last of all, but most important, in the world of property management we know that if a tenant is responsible, pays their rent on time and keeps their rental clean the chances are that they have friends or family members who have similar tastes and traits so if you want to get more great tenants like the one that you currently have you should consider starting a referral program which includes paying your tenants a “bounty” when they refer people to you who may be interested in renting one or more of your rental properties.
Get Houston Texas Property Management
For Houston Texas Property Management contact Vestpro Residential Services, LLC today by calling us at (832) 498-0016 or click here to connect with us online.