Picture a tenant who pays on time, gets along with the neighbors, respects your property, and wants to stay another year. With a leasing strategy in place, you can nurture your relationships with tenants to boost lease renewals. More renewals mean fewer occupancies and more income!
Not sure how to convince your Atlanta, GA tenants to stay? Read on for the leasing management strategies you need to encourage renewals today!
Implement Tenant Screening
Eviction filings have increased by over 60% as more renters struggle to pay rent on time. Before trying to retain tenants, make sure you're choosing reliable renters. Retaining reliable renters long-term will ensure you have an ongoing source of income.
To ensure you find the best tenants, implement a tenant screening process. Check their:
- Credit score
- Employment verification
- Criminal history
Establish rules and regulations to ensure smoother tenancies. Provide a document that clearly explains all rules and procedures. These documents can cover pets, quiet hours, and emergency procedures.
Develop stronger landlord-tenant relationships by communicating with your tenants. When they first move in, provide them with an easy way to contact you. Consider using a tenant portal to streamline communications.
Respond to the messages you receive as soon as possible. Communicating with tenants will show them you care about their living experience and quality of life.
If tenants struggle to reach you, they could get frustrated. They'll look for a landlord who cares more about their needs and concerns.
Complete Rental Property Maintenance
Complete rental property repairs as quickly as possible. In Georgia, landlords are responsible for repairs to keep the property in good condition. If a landlord doesn't respond to requests within a reasonable amount of time, tenants can sue for damages.
They can also subtract the cost of repairs from next month's rent ("repair and deduct").
Completing rental property maintenance will show renters you care about their living conditions. It will also allow you to maintain your investment property.
Consider offering upgrades to encourage renters to stay another year. For example, you can add energy-efficient windows, new kitchen appliances, or updated flooring. Listen to your renters to determine what upgrades they want.
Hire a Property Management Company
You're already stretched thin trying to maintain your properties. Responding to constant maintenance calls and fostering relationships with tenants can become time-consuming. Instead of doing it all alone, consider hiring a property management company.
An experienced property manager can help you develop an effective leasing management strategy. They'll help you increase tenant satisfaction, leading to more lease renewals. Use these tips for hiring a property management service in Atlanta to choose the best team.
Increase Lease Renewals in Atlanta
Increasing lease renewals will ensure you have an ongoing source of income. Use these tips to keep your renters happy. With these tips, they'll want to stay and rely on you as their landlord.
Remember, you don't have to do it all alone. Working with a property management company can make all the difference to your success.
PMI Atlanta OTP has nearly 20 years of industry experience helping landlords. Our full-service property solutions can save you valuable time and money. Contact us today to discover how we can maximize the return on your rental investment.