Having the right property features can make all the difference in preventing high tenant turnover. As a landlord, you want tenants who stick around for as long as possible and don’t cause any problems. Having the right property features can help landlords prevent high tenant turnover rates by keeping their current tenants happy.
Property Features That Will Prevent High Turnover: Modern Appliances
When it comes to decreasing tenant turnover rates and maintaining content tenants, modern appliances in each rental unit can create a world of difference. Investing in up-to-date appliances such as energy-efficient refrigerators, dishwashers, stoves, washers, and dryers, can provide more convenience and comfort for tenants while also helping to save energy and reduce overall costs.
Proactive appliance maintenance and repairs will help you avoid more costly problems in the future. Taking care of any problems immediately will ensure that they don’t become bigger, costlier headaches in the future.
Investing in energy-efficient windows can be the key to reducing tenant turnover and making your home a desirable place to live. Up to 30% of your energy use is lost through windows. Energy-efficient windows keep tenants comfortable year-round and reduce their energy bills.
Establishing insulation for windows is especially imperative in regions with extreme temperature changes. Without proper insulation, energy expenses can skyrocket due to drafts and the escape of heated or cooled air. Landlords should invest in windows that are specifically designed to reduce energy loss and keep tenants comfortable.
Property Features That Will Prevent High Turnover: Cleanliness
When attempting to curb high tenant turnover, landlords should look towards cleanliness as an essential factor. A well-maintained property is far more likely to attract and retain quality tenants than one that is dirty and unkempt. Not only will keeping a property clean help create an inviting environment for tenants, but it can also reduce the risk of tenant complaints. Making sure to schedule consistent professional cleaning services or giving tenants regular maintenance instructions can guarantee that the property remains clean and habitable all of the time. This can significantly mitigate high turnover rates and inspire tenants to stay in the property for extended periods of time.
By providing a wide range of features that cater to different types of renters, you are more likely to keep your current tenants happy and content with staying around for longer. Utilizing prudent judgment regarding the characteristics and profitability of properties, landlords can find an optimal solution that satisfies tenants while also maintaining their business’s financial stability.
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