3 Steps to Avoiding Tenant Turnover
Tenant turnover is an automatic cash flow killer. All of the administrative and advertising costs and the maintenance work to get the unit rent-ready, not to mention the lack of rent checks during vacancies, take a huge hit to your profit margins. Experienced Real Property Management Chicago Edge has some tips to help you keep a full house so that you can avoid this:
Always Screen Applicants
The tenant you choose to move into your rental home can be a large factor of your renter experience. After all renting means dealing with people. Real Property Management Chicago Edge will always have a thorough screening process with any potential tenant over the age of 18. This can help give a better picture of who the person is who wants to rent your home. Background checks, rental histories, and credit checks can all give important information into the character of an individual.
Listen to your Tenants
Life always has bumps in the road. Appliances break, weather related damage, or flooding can occur. If a tenant has a need or concern, respond as quickly as possible. Fast proactive maintenance can help prevent future problems and sends a message to your tenant that their rental property management in Chicago cares about both property and tenant.
Keep a Good Relationship
Tenants feel security in knowing that if there is an emergency, they can contact management quickly. Regularly scheduled inspections can be set up with tenants at the time of lease signing. This can help with maintenance follow up and tenant communication.
The goal is to have an environment that is safe and maintained with open, honest, and regular communication. When tenants have an enjoyable renting experience and feel at home, they will want to stay as long as they can. The bottom line is the longer your rental is filled, the more regular your rent checks also are thanks to your wise rental management in Chicago.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.