Property management services Charleston SC investors hire are expected to keep properties maintained and a rent check coming in every month. When properties are vacant because a tenant has moved out and no one else has leased, investors are losing money and profits. This is why keeping tenants in their homes if they are great tenants is very important.
Unfortunately, resident retention is often overlooked by owners and landlords because of all the other duties that are attending to daily. However, when you can work with property management services Charleston SC has to offer, you can get lease renewals early and often, so you never have to worry about vacancies.
Tips for Lease Renewals
One of the qualities of a good property manager is being able to communicate clearly and often so that there is no miscommunication with tenants and expectations are set early. Make sure the lease also outlines the renewal process. Best practice is to require tenants to renew their lease at least 30-60 days prior to the lease deadline.
Some of the ways you can entice your tenants to renew their leases earlier include:
- Offering a service such as carpet cleaning or a fresh coat of paint in a common area of the home
- Offering a discount off the rent for the first month of the new lease
- Thank-you gifts for signing early such as gift cards to local restaurants or entertainment.
Not only will these tactics help to get your leases signed early, but they will also help keep your renters happy. When renters are happy with the property management services Charleston SC offers, they are more likely to pay rent on time, not violate the lease, and have good professional relationships with the management and maintenance crews. Residents who are happy with their space, the management, and know they will be living in the home long-term will also take better care of the property which results in less maintenance requests.
Call Scott Properties in Charleston if you need professional property management services at 843-790-4929.