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End of Year Resident Retention Tips

Resident and Landlord Happily Shaking HandsThe holiday season is upon us, and as the end of the year quickly approaches now is time for you to reflect on the success, or improvements, that you made for your investment property during 2017. While plenty of industries are working overtime trying to prepare for the holidays, it is very common for investment homeowners get caught up in their own holiday plans, which can lead to management tasks that slip through the cracks for their rental properties.

The holidays should be the time you sit back, relax and enjoy the benefits of having invested in real estate. However, to ensure that your tenants feel the same about choosing your property to reside it is important you are partnered with a property management team that goes above and beyond this time of year.  Don’t start the new year on a bad foot with your residents if you have neglected important repair issues. This can often lead to tenants not renewing their contracts in the following year, then you are left searching for new tenants.

Set your New Year’s resolution early and begin good property management habits during the holiday season to continue throughout the year for a better retention rate.

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

1.      Respond Promptly

Nothing is more frustrating during the holiday season than waiting in long lines, only to receive less-than-cheerful customer service. While this may feel like it doesn’t apply to you as an investment property owner, it is important that you use a property management team that responds promptly, and does so in a professional and positive manner. 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 24-hour job, oftentimes with many repair and management needs happening in the middle of the night or during holiday seasons. 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 follow these tips this holiday season then you already off to a good start in having higher retention rates for your new year. If you would like more information about our property management services, contact us online or call us at 603-343-2202 today.

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