Locating a long-term resident to take up residence in your rental property can be an all-time task. Adopt effective Temecula resident retention strategies to increase sustainable residents that you can depend upon to remain for a longer time. Numerous residents stay for the sense of community, others might stay for knocked down costs come lease renewal time. Others might be delighted by the first-class landscape or maintenance requests process being accomplished effectively and conveniently by a property management company.
Irrespective of the reasons residents might stay or go, landlords and property managers should consider the move out costs tied to allowing your property to become tenantless. This cost can be hefty and cost you the profit you would have gained if you had retained the resident or had a program in place to replace the resident quickly. Having established location resident retention strategies can help you have a close relationship with your residents. For example, if one of your residents was considering a move, they would trust you and let you know of their plans. Knowing this information beforehand can give you significantly more time finding a replacement.
The first in the number of Temecula resident retention strategies to apply is to correctly realize what your residents hope for. Some property managers are surprised to hear when residents have unkind or opposing things to say about them. This can arise for a number of reasons. One of these reasons is your lack of communication with the resident. Residents want to be heard. While customer service is a major component of meeting the resident’s needs, property managers tend to not focus on what really matters when talking with the residents. Some property managers might have resentment towards such phone calls or interactions as it adds more work to an already busy day. However, what property managers should understand is customer service is the most important part of the day.
Customer Service can be an expansive topic. Temecula resident retention strategies encompass diving keenly into what your customer service experience symbolizes for your residents. Usually, customer service shouldn’t be viewed as a task. It is an interaction and relationship building step. An effective open communication relationship will not happen overnight. From the time your resident signs your rental property lease, you are engaging in a constant testing phase with your resident. Residents will test you to see what your communication style is, your updating process, how quick you will respond to requests, and how flexible you are: where you can either be strict with your job procedures, or relaxed and open to conversation. Some residents can be busy and unable to take phone calls. Consider sending texts or simple reminders about things rather than accumulating everything into one random long phone call.
Listen and Take Action
Temecula residents like to be attended to. Whether their side of the story is reasonable or not, there is a motive that they are reaching out to you. Hear them out with whatever they have to say. A resident will feel validated when you give them time to voice their opinions. Listening, as in any relationship shows that you care more about just getting the job done and showing them that you care about them as a person. Avoiding saying, “no, we can’t do that” or starting out your sentences or responses with “no”. Always provide a solution or potential compromise in case your solution will cost the resident money or not be exactly what the resident feels is right.
Complete in a Timely Fashion
Residents are predisposed to have a higher affinity when service requests are resolved immediately and proactively. Even if you do the job right and to their preferences, if it takes several months to do it, they may still hold resentment towards you. When you finish tasks in a quick and timely fashion, your Temecula residents will trust you more as a property manager. Take time out of your busy schedule to quickly perform the task. You will find that even taking ten-minutes to give proper attention to a service request asked for not too long ago, will go a long way in keeping your resident around lease after lease.
An effectual resident retention strategy summates down to conscientious listening and a prompt undertaking of service requests. Picture all the possibilities that you can devise as you target more on the relationship quality with your residents. Interested in learning more about Realevate Specialists? Please contact us online or call our Mission Valley office at 858-997-2100 or our Temecula office at 951-461-0100 for more information.
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