Tenant Retention – The Key To Building A Stable Portfolio Of Investment Properties While Boosting Your Bottom Line

In 2019, many landlords are only focused on boosting their bottom line, when in reality they should be thinking about tenant retention first before anything else because keeping tenants happy is the key to success when it comes to building a profitable portfolio of investment properties.

In this article we will provide you with several tips that you can use for boosting your bottom line while increasing tenant retention at the same time.

Tenant Retention

Tip #1 – Don’t Neglect Screening!

One of the first ways that you can boost your bottom line while increasing tenant retention is to focus heavily on screening potential tenants.

To screen a potential tenant, you should always require them to fill out a full rental application, provide current job history, employer references, personal references, and most important of all, you should also verify that they make three times the rent.

Following these tips will save you the time, money and hassle of essentially renting to a tenant who is going to cost you money over time if they pay late or end up having to be evicted from the property.

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Tip #2 – Always Prioritize Maintenance

Another important thing that you want to do as a landlord is to always prioritize maintenance. This means that when a tenant calls you with a potential maintenance request, you should take steps to ensure that their maintenance request is handled immediately.

Prioritizing rental maintenance will help you earn the respect of your tenants and cause them to see you as someone who values their business instead of just viewing them as income that you have coming in every month.

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Tip #3 – Become A Master of Tenant Relations

Last of all, but most important, another vital thing that you should focus on doing is mastering PDX tenant relations. This means that your relationship with your tenant should start from the moment that they sign their lease.

Your goal with your tenant should be for them to see you as someone that they can trust to provide them with a safe, secure, and awesome place to live on a monthly basis instead of viewing you as their adversary who only wants to collect their rent every month and give them nothing in return.

Rent Portland Homes

Contact Rent Portland Homes 

To learn more tenant retention tips, or to speak with us about Portland Oregon Property Management, contact us today by calling (503) 515-3170 or connect with us online by clicking here. 

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