There are many benefits for property managers when it comes to attracting long-term tenants in Boston and the Metrowest area. These benefits include having consistent income, and reduces the costs and work of having to remarket the property and find new tenants at the end of each rental period.
Property managers in the Boston area may have a hard time finding these long-term tenants in such a competitive market, however there are some steps that can help attract these high-quality renters.
When it comes to marketing your rental property, most tenants are looking for a safe property in the Boston area. Emphasize the safety of the location of your rental property, and any measures you are taking to ensure their safety such as security locks and safety cameras. This will give potential long-term clients a peace of mind.
Before placing your rental property on the market, conduct a rental price analysis in the Boston area to get a better idea of what similar units are going for in the market. Find a reasonable middle price that allows you to make a return, and attract high-quality tenants.
Upgrade the Kitchen and Appliances
In order to make this rental property attractive to potential long-term tenants, consider upgrading the kitchen. The kitchen area and age of appliances can often be a make or break for renters. These upgrades can make the decision for tenants easier when it comes to re-signing their lease, and leads to less maintenance requests.
Focus on Building a Relationship
One of the most important factors when it comes to keeping a long-term tenant is establishing a relationship with them. Focus on having positive interactions with your renters that includes open communication and a mutual respect for one another. If the tenants have a positive relationship with you, they are more likely to resign their lease.
Property managers can begin fostering a relationship with renters by creating a warm environment and welcome during their move-in experience. Special touches such as a welcome gift, or guide to local favorites can help your tenants feel more at home. This is something your tenants will remember when it comes to re-upping their lease.
Be Responsive and Attentive
A typical complaint about property managers is lack of responsiveness when it comes to maintenance requests or other questions about the property. Create a positive experience for your renters by being responsive to their communication and handling any issues quickly. Tenants want to know they can count on you if certain issues come up, especially in emergency situations.
Respect their Privacy
Part of establishing a positive relationship with your renters is by respecting their privacy. This is extremely important to your tenants. If you’re planning an inspection, or another appointment that would interrupt them, give them proper notice. Be considerate of their time and space and they will feel more comfortable staying longer than their lease.
If you’re looking to attract long-term tenants in the Boston area, consider these strategies to provide a safe and comfortable environment that will lead renters to remain longer on the property.
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