The one thing you can do to see that you are steadily turning profit at your rental properties is to assure your tenants’ satisfaction and happiness with their residency. This can be done in many ways, but you must be dedicated to your tenants and the property grounds. The time it takes to handle all responsibilities involved with leasing out property is why many rental owners in Houston choose to hire a property manager to supervise and complete all duties. The experience, certifications and skillsets carried by a property manager is necessary if all tenants are to remain satisfied with their stay and your rentals are to remain lucrative.
Aside from hiring property management, try these tips below. They’ll help you maintain happy occupants which will no doubt, assure your Texas real estate investment and increase your profit.
- Attract quality tenants. By attracting dependable tenants, you’ll likely deal with much fewer disruptions on the premises. This can be done in numerous ways, but it takes an entire team of the right people and a well-managed property to effectively draw in quality tenants.
- Qualified occupants are less likely to cause problems.Prevent disruptive tenants by having them undergo a thorough screening upon their application. Have all interested individuals fill out an application and pay an application fee. When they’re willing to pay the associated fee, it only shows their serious interest in renting a unit at the property. Also have possible tenants undergo a credit and criminal check before approval of their application.
- Always be willing to listen and keep an open mind. Your tenants are directed to come straight to property management if they have issues so be willing to listen to their concerns, issues and even suggestions. Allowing them to feel heard and acknowledged is a great way to make them happy to be a resident.
- Before you go to advertise, spruce up the property. Give it curb appeal and make sure all units are cleaned, freshly painted and ready for new occupants. Never show a property that isn’t in its best condition.
- Market the rental units properly and effectively. Use professional advertising techniques to attract reliable occupants to the property. Advertise online through reputable real estate agencies or even put ads in local print publications. Always highlight the most desired aspects of the property. For example, the great school system or the physical fitness room available to all renters. Any special facets of the property that make it more appealing should be effectively advertised.
- Set a fair rental rate on each of your units. Make sure your monthly rates are comparable with other rental properties throughout Houston. You may even want to consider offering potential occupants deals or promotions. You can do this for longstanding tenants too. Offer tenants the opportunity for a referral program or other discounts for their longevity of residency at your property rental.
- Maintain the property. After the property undergoes its makeover prior to marketing, the grounds and units must be maintained. For larger rental properties, management will often hire contractors to perform routine tasks such as landscaping, handy work, and other rigorous duties around the grounds. Regular upkeep is a must and if a tenant has a repair or maintenance issues have it addressed immediately.
- It is possible to help prevent disruptive tenants from renting at your property, but you should always expect some issues especially at multiple unit properties. When a tenant is upset or disruptive, try to defuse the situation as quickly as possible before other tenants are bothered by the occurrences. Your attentiveness and ability to act quickly in disruptive situations is important for the entire community of renters.
- Always be available to your tenants. This is just another reason why it’s wise to have a property manager. Dealing with tenant concerns is an ongoing process. Make sure there is a clear line of communication at all times. Have phone numbers tenants can call whenever they find it necessary. Sending out notices or even monthly flyers about things going on with or around the property is a great way to keep tenants informed at all times.
- Provide your tenants with amenities. Even if your rental property is without a pool, fitness rooms, or other similar comforts, try to organize events for those residing there. Hold a summer picnic, a potluck dinner, or monthly meetings where all residents can choose to get together as a community if they wish. This is a wonderful way to get everyone familiar with each other.
As you can see, there are many effective ways to attract the right tenants and keep them happy at your rental property in Houston. The respect, professionalism and dedication shown by your property management team will have a lot to do with the happiness of your rental units’ occupants. Contact Katy Property Management at 281.398.9844 to learn more about the advantages of Houston property management services and how they can help your property remain profitable in an ever demanding industry.