Best 4 Tips for Improving Resident Retention Through Property Maintenance
A skilled property manager should be able to easily incorporate new residential properties into their schedule. Organized managers will live and die by plans of routine maintenance, collections and customer service. Finding one that excels in these areas can be the difference between keeping current tenants and losing them. In the Toronto area there are many skilled property managers that specialize in resident retention through property maintenance among other things, and the four best methods you can use are as follows.
- 24 hour service – Like most things in life, accidents happen and things tend to break at inopportune times. Your tenants may be concerned about having strange 3rd party maintenance personnel in their homes at night, so an excellent plan for keeping familiar maintenance faces around in the off hours is to stagger their schedules so everyone works a weekend or a late shift from time to time. This will delight your tenants and not hurt the moral of your maintenance team in the process.
- Go above and beyond – Typically there will be at least a couple of maintenance issues that need repairing when you enter a tenant’s house that don’t relate to the problem they called in. Your property manager should train service vendors to identify these minor issues and fix them while at the property. These might include changing filters or oiling squeaky doors. Fixing a leaky faucet or running toilet without being asked goes a long way in showing your tenants that you care about them and the property.
- Understand common maintenance needs – This is an excellent way to efficiently manage your maintenance team and reduce their workload by tenant awareness which is basically a win-win for you, the landlord. Basically you should review work orders for the property and identify trends. Should a certain tenant routinely have problems with leaks or electrical issues, you can arrange a meeting between the service vendor and tenant to understand what is causing the frequent service issue and how best to prevent it from continuing. The tenant will appreciate your attention to detail and reward you by sticking around.
- Promote maintenance and management communication – Many times the vendors performing the work and the management that dispatches them can be at odds for different reasons. The maintenance team may feel overworked and too busy. The management team may try to push the vendors to work faster. In order to resolve these communication issues many experienced property managers will schedule weekly meetings between the two teams to work out frustrations and give perspective on everyone’s jobs so all are respectful of each other. Many times the tenants will see the vendors more than the sale and management team so it is important to make sure they represent the management group in a positive way. This goodwill will promote tenant retention.
Overall the key for resident retention is communication. A good property manager in the Toronto area will schedule regular tenant and vendor meetings – separately and together – to ensure everyone understands what issues need attention and that everyone is getting the respect they deserve. This will keep both parties happy and ensure that your tenants re-sign their leases.