Rochester, New York
339 East Ave #400
Rochester, NY 14604
(585) 546-1290

3 Ways to Retain Reliable Tenants October 8, 2020

Rochester, Monroe
3 Ways to Retain Reliable Tenants, Rochester, New York

A condo rental can be a lucrative investment when you have reliable tenants. They can remove a lot of stress that comes with rental property management. To ensure they have favorable living conditions, there are essential steps to take to keep these tenants happy. Below outlines a few ways to ensure you keep reliable people living on the property. 

How to Keep Good Tenants In Your Condo Rental

1. Take Care of the Property

Tenants want to feel cared for. An attentive landlord will maintain the property every week. This means cleaning common areas in the condo building, maintaining landscaping, and ensuring the property is secure. Become active in the building’s HOA so your tenants receive the best care.

Also, be prepared to help when the unexpected happens. It’s wise to designate a 24/7 emergency contact that can address leaks, power loss, and other issues. Tenants will appreciate your commitment to their well-being.

2. Communicate

rental property managementMake yourself available for your tenants. Communicating helps you better understand their needs and can strengthen a bond. Call to wish them a happy birthday or drop a holiday card in their mailbox.

Many rental property management companies host gatherings for tenants if they own several condos or schedule a weekly dinner to catch up. Tenants may be more willing to resign a lease with someone that feels more like a friend.

3. Stay On Top of Renewals

Reach out several months before your tenant’s lease is up to discuss renewals. If they’re thinking of leaving, it’s a chance to learn what’s affecting their decision so you can make changes.

Offer incentives as well. A free month’s rent, cashback, and gift cards are all popular options. You can also discuss longer leases. Consider cheaper rent in exchange for the tenant signing a multi-year lease.

 

If you need assistance with rental property management, contact Galvin Realty Group Inc. Serving Rochester, NY, and Monroe County since 1987, these professionals offer a variety of services. They specialize in property management and can assist with commercial real estate transactions. Visit their website to learn more, or call (585) 546-1290 to speak with a representative.

Other Announcements, Events and Deals from Galvin Realty Group, Inc.
3 Benefits of Hiring a Property Management Company, Rochester, New York
While owning a rental can be rewarding, property management often requires a considerable amount of time and effort. If you handle all of the work on your own, this can limit your ab...read more
What to Look for When Investing In Commercial Real Estate, Rochester, New York
When you purchase commercial real estate, you need to scout out property that will earn you money. Therefore, it’s important to have a list of criteria before diving into any agreeme...read more
A Guide to Commercial Leases, Rochester, New York
No matter the size of your business, finding the right space for it is essential. Because the lease you sign is a commitment and is very different from renting a residential space, y...read more
A Brief Guide to Property Tax Assessments, Rochester, New York
Property tax assessments offer an estimate of the market value of a residential or commercial real estate property, which acts as the foundation for property tax bills. There is a pr...read more