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End of Year Resident Retention Tips

Resident and Landlord Happily Shaking HandsAs we are near the end of another year, it is a good time for you to reflect on the success, or improvements, that were made during 2017. Many other industries are in full force preparing for the holidays; however, far-too-often investment homeowners can get comfortable or caught up during this time of year in their own holiday plans. This can lead to management tasks that slip through the cracks for rental properties.

However, this doesn’t have to be the case! The holidays are the perfect time for homeowners to focus on their family and friends, which makes having a trustworthy property management services even merrier this time of year. Start the new year on good terms with your residents by taking care of maintenance tasks in a timely manner this season. If you wait to respond, this can often lead to tenants not renewing their contracts in the following year, then you are left searching for new tenants.

Many people establish New Year’s resolutions that are soon forgotten, but we encourage you to start practicing good property management habits at any time of the year and continue to improve on it throughout the year and you will soon see a higher retention rate.

Check out these tips to start the new year with very merry residents:

1.      Respond Promptly

Nothing is worse during the holiday season than waiting in exhausting lines, only to then receive customer service that is less-than-merry. While you are in the investment property industry, it is still important that you use a property management team that responds promptly, and pairs high-quality work with high-quality customer service. This establishes a good rapport with your residents and influences their decision on where they will live next year.

2.      “Holiday Hours”

Property management is a full-time job, with many repair and maintenance needs occurring in the middle of the night. Both you and your tenants will be happy when your property management team continues this service through one of the busiest times of the year.

If you stick to these tips as the end of the year approaches, and into the new year, you will have happy residents all year round. If you would like more information about the property management services that Real Property Management DC Metro offers, contact us today.

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.