Smyrna is nationally acclaimed as a favorable city for young professionals and families, making it the ideal place to own an investment property. So, if you're struggling with ongoing vacancies in your rental units, you're doing something wrong.
Finding and keeping good tenants for your rental property is key to profiting from your investments. For most landlords, this is often easier said than done.
Read more about how our leasing management services help property investors retain tenants in Smyrna, Georgia.
Tenant Screening Is Key for Tenant Retention
No landlord wants bad tenants to renew their leases. So, it follows that reducing your property vacancies begins at the outset of the rental process.
Comprehensive tenant screening is vital for property profitability. It helps to ensure you enjoy consistent rental income and maintain the value of your property.
You must screen tenants in line with Georgia's fair housing laws and the Consumer Protection Act. The Consumer Financial Protection Bureau receives hundreds of complaints every month about tenant screening practices, and a property management company can help you avoid being involved in one of them.
Set Favorable Lease Agreement Terms
Skilled lease negotiations are primary tenant retention strategies. Meet your tenants halfway by giving them a little more freedom over the property.
Reduce the number of petty rules you have in place and consider allowing pets if you want to attract families who are likely to remain in place.
Pet-friendly properties are in high demand, so you can charge more for them and expect many applications when you advertise your property. For these reasons, pet families are reluctant to start the search for a new home and are more inclined to renew their leases.
Take Good Care of Your Tenants
An online tenant portal is vital for maintaining good tenant relations. It has the following benefits:
- Facilitates convenient payments
- Enables real-time communications
- Fosters transparency
Tenants can log maintenance and repair requests using this technology, so you can attend to these matters promptly.
Routine property inspections are another useful tool for building good relationships with your tenants. Use them to get to know them and ask them about improvements you can make to the property.
One way to show your appreciation to good tenants is by offering incentives for lease renewals. These could include a few months of discounted rent, a meal voucher, or a desired upgrade to the property.
Get on Board With Top-Notch Leasing Management in Smyrna, GA
Leasing management involves fulfilling every clause of a tenant's lease agreement to ensure their satisfaction and encourage lease renewals. Hiring an experienced property manager is the best way to avoid property leasing mistakes and succeed at this complex task.
PMI Terminus is your one-stop solution for comprehensive property management in Smyrna. We can help you retain your existing tenants or start over with new applications. Our services include key aspects like lease origination, tenant screening, and maintenance coordination.
Our team specializes in providing the ultimate in customer service to ensure all our clients enjoy convenient, personalized service. Discover the route to success as a property investor today.
