The Ultimate Guide to Tenant Retention

Turnover is expensive. Between cleaning, marketing, and lost rent, a vacancy can cost thousands. That's why tenant retention should be a top priority.

Communication is Key

Responsive communication is the #1 factor in tenant satisfaction. Use a centralized platform to ensure no message slips through the cracks. Acknowledge requests immediately, even if you can't solve them right away.

Maintain the Property

Keep the property in top condition. Address maintenance requests promptly. A well-maintained home shows tenants that you value them.

Community Building

For multi-family properties, fostering a sense of community can be a powerful retention tool. Organize simple events or create shared spaces where neighbors can connect.

Fair Renewals

When it's time for lease renewal, be reasonable with rent increases. Sometimes keeping a good tenant at a slightly lower rate is more profitable than risking a vacancy for a higher price.