Going into the industry of property rentals can be quite taxing at times. It requires thorough focus and attention in different aspects like trends in the profit of your property, satisfaction rate, vacancy rate, and making tenants happy — which is the most essential one. Happy and satisfied tenants bring benefits not only to the tenant but even to the homeowners and property managers. Making your tenants happy makes your business relationship more long-term and reliable. On the tenant’s part, this gives them an assured and dependable home, while as homeowners, this also allows you to make your investments more profitable. This is how tenants’ satisfaction comes to play in terms of this business relationship and industry.
Understanding the essence of tenant satisfaction, it isn’t always easy to make tenants happy. To develop better tenants’ satisfaction in terms of their business relationship with the homeowners, the following are things and improvements that homeowners and even property managers should look into.
- Clear Communication – Communication is essential for any type of relationship, especially when it comes to business. And, the best way to do this would be through the use of technology. Creating a communication system, through a website for example, wherein tenants could easily navigate and track all property matters, ensure automated systems for easier transactions, and even have open lines of communication for more convenience and efficiency in voicing out concerns and even inquiries. Ensuring easy and clear communication between the tenants and homeowners guarantees that there will be little to no misunderstandings between the two parties and that there would be an easy and efficient way to listen to each other, developing a more trustworthy relationship.
- Consistent Repair and Maintenance – Making sure that the property is always consistently repaired and maintained is also a big factor in keeping tenants happy. It’s best if you include a maintenance/repair request and report part in the website too, for a more organized and structured system. It’s also important to ensure that repairs are done within a reasonable time frame. Things like small leaks can look like minor inconveniences, but it’s frustrating on tenants’ part if they have to wait for weeks or even months before these concerns are acted upon. So, timely and consistent repair and maintenance will surely improve and make your tenants happy.
- Practice Professionalism – While others may believe that getting close and personal with tenants and clients makes better relationships, it’s better to keep things professional. Practicing professionalism ensures a more stable and consistent relationship, which is what homeowners should be aiming for if they want a long-term business. Without personal ties, personal emotions and even arguments can’t get in the way of the business relationship. However, this doesn’t mean being rude or even cold to your tenants. Homeowners should still be accommodating without crossing a certain line. Thus, if a homeowner is courteous, respectful, and professional with his/her tenants, this can also improve a tenant’s satisfaction. Moreover, having a property manager can also help in keeping the homeowner-tenant relationship strictly business and professional.
There are a lot of benefits that come with keeping tenants happy. While turnovers are a tedious and costly process, if you’re tenants are happy, they’re also more likely to renew their leases–lessening turnovers and tear on the rental property. There will also be lower vacancy rates if you have happy tenants, thus making more profit from your property as well. Therefore, keeping tenants happy can also ensure satisfaction on the part of the homeowners and even property managers. Keeping all parties of the business relationship satisfied gives way for an ideal, long-term and healthy business relationship in the industry of property rentals. Keeping tenants happy, making homeowners happy.