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A simple checklist for keeping occupancy rates high

A simple checklist for keeping occupancy rates high

Even as property owners add units to the national tally of rental properties, rents and occupancy rates are enjoying a steady climb. While filling vacant units might not seem like an issue at the moment, here’s a simple checklist for attracting and keeping those long-term tenants every landlord wants.

  1. Perform your due diligence before leasing. Get started on the right foot with every potential tenant by performing a thorough background and credit screening. Don’t ever go by what you see in just the face-to-face or solely by documentation presented by the applicant. Check references.
  2. Keep things running smoothly. When a complaint or request for repairs comes in, don’t let it sit unaddressed. Get it fixed in a reasonable amount of time. This will show your existing tenants respect and help keep the property maintained and looking its best for potential renters.
  3. Play fair. Don’t make special concessions for some tenants while not making the same for others. To avoid this situation all together, have rules and guidelines (such as when the rent is due) be the same for every tenant. Communicate your expectations clearly. This builds a good business foundation and retains consistency to avoid any misunderstandings.
  4. Focus on curb appeal. Keep the property clean and maintained, plain and simple. An unkempt property is only going to hurt chances of getting new, serious applicants in the door. It could also cause current tenants to begin their search for another complex.
  5. Show respect. Treat applicants and tenants with respect in every situation. Just as with any business relationship, word of mouth is a powerful tool. Give your tenants a reason to tell their friends about where they live.

 

 

 

 

Running a business well requires attention to detail and customer service. 

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