How to Improve Tenant Retention in Your San Jose Rental Property
Are you searching for ways to improve tenant retention in your San Jose rental property? If so, you’ve come to the right place! As the best property management company in San Jose, we can tell you that the key to improving tenant retention in single-family involves the following.
Offer Your Tenants Incentives to Renew
Don’t wait until January or when your tenants’ leases are due for renewal, contact them NOW and offer incentives for them to renew with you for another 12 months.
Some of the most common incentives that tenants appreciate include:
- Free Wi-Fi (Saves them up to $50 per month)
- Gift cards or certificates
- Free GYM memberships
- Improvements to the rental property
- New tablet computer
- Free lunches at a nearby restaurant
Always Keep Your Promises
Another great way to incentivize renewals is to always keep your promises, especially if you have promised to make repairs or improvements to your San Jose rental property because tenants want to feel like their concerns are being heard and their needs are met.
Create A “Community” Feeling
Regardless if you own multiple single-family homes or apartments, you should also try to create a community feeling for your tenants. This can be done by creating regular events where all of your tenants get together for community dinners or holiday meals.
Offer A Rent Decrease
If your tenants pay on time and are quality people that you would like to keep as tenants you should also consider offering them a rent decrease of up to $50 per month if they would be willing to renew their lease with you for another year.
A rent decrease can save a tenant up to $600 per year and possibly save you the time, money and hassle of having to search for new tenants while having your rental sit vacant for up to one month at a time.
Get San Jose Property Management Here
For professional property management in San Jose contact Utopia Management at (800) 294-4656 or connect with us online.
