Tenant turnover in rental properties can be a serious issue for landlords. There are several costs associated with frequent turnover in your properties, and having a rental sit vacant for any amount of time can hurt the bottom line of your business.

A successful landlord goes above and beyond to meet the needs of their tenants and encourage lease renewal. There are several creative ways that you can reduce the number of turnovers your rentals experience each year. By focusing on customer service and providing high quality properties for your tenants, your costs will not only be reduced, but you will benefit from a positive boost to your business reputation!

Here are some things you can do throughout your tenant’s lease to decrease the likelihood of having to scramble to find new tenants to fill your vacant rentals!

Conduct Thorough Tenant Screenings

Tenant screening is an essential aspect of property management. The best part is, it is something that you can do before even signing a lease to decrease the issue of tenant turnover! .


Value Your Tenant

Your tenants are your most valuable asset and the key to long-term success in the property management business. Respect your tenant’s rights to the property and be considerate when conducting inspections, re-evaluating rent, and doing property repairs.


Maintain Property

Properties that are well maintained have the best chance at housing long-term, quality renters. Replace outdated appliances, freshly paint and carpet the property before move-in, and conduct regularly scheduled property inspections to stay on top of any repairs before they become an issue. 

Provide Renewal Incentives

When you have excellent tenants that you want to encourage to sign another long-term lease, don’t be afraid to establish a renewal incentive program! By offering incentives such as a referral program or one month free rent with a renewed lease, you will save money in the long-term by not incurring all of the costs associated with screening new tenants and updating your property. There are many ways to encourage quality tenants to renew their lease agreement, and what it all comes down to is providing excellent customer service. When your tenants feel respected and valued in a properly maintained home, you will reduce tenant turnover and increase the bottom line of your property management business!