Tenant turnover is going to happen when you own rental properties.
The good news is that you can limit turnover and keep tenants for longer periods of time, especially when you follow these tips.
How To Limit Tenant Turnover
Focus On Tenant Screening – The quality and longevity of your tenants all relates to one thing, tenant screening.
Thanks to the Internet, tenant screening has never been easier because online tools make it possible for you to easily find the most qualified tenants for your rental properties.
Get To Know Your Tenants – From day #1 it’s best to form a relationship with your tenants so that they know you are an accessible owner who they can communicate with should they have issues at your rental property.
Make Regular Improvements – Since more people are renting than ever before, it’s never been easier to have a profitable rental property than right now.
Even though rental properties are in demand, you should still be focusing on improving your rental property each year because tenants who feel like you care about their experience living there will be more inclined to stay once their lease comes up for renewal.
Research, Before Investing In New Rentals – Let’s face it, the ROI from your rental properties all boils down to good solid research.
You should be taking the time to research every rental property to confirm that the area where it’s located has rising employment and a good economy because tenants will be more inclined to renew their leases if they know that the area is thriving.
Give Incentives For 2-Year Leases – Last, of all, don’t hesitate to offer tenants incentives for signing 2-year leases because you will find that in most cases a tenant won’t think twice about renewing their lease if you offer them a great reason to sign for 2 years.
Contact Rent Portland Homes
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Our team helps tired owners, overworked investors, and everyone in between.
To get a property management quote, contact us today by clicking here.