Williamsburg Property Management: Tenant Retention

What makes a great tenant? A great tenant is someone who pays the rent on time, maintains a friendly and respectful attitude when communicating, and keeps your property clean and undamaged. A quality renter is very valuable to you as an owner, not to mention the agents ofWilliamsburg property management. These agents can screen and lease quality tenants for you while you relax and enjoy the benefits of renting out a house or apartment without needing to perform time- and labor-intensive landlord tasks.

Why is tenant retention so important? According to the pros of Williamsburg property management, it is simply more cost-effective and less stressful to maintain a long-term rental agreement with a good renter than it is to advertise a listing, screen potential applicants, go through the leasing process, and clean and update the property. Additionally, when your property isn’t being actively rented out, it is losing you money. In fact, the cost of replacing a tenant is three times the amount of the cost of keeping one. These facts alone make pursuing tenant retention worthy and fiscally responsible.

If you simply don’t have the time or inclination to put forth the effort to keep your tenants happy so they’ll stay put, you may consider engaging the services of a company that specializes in property management. While you get a monthly income from the renters, the leasing agents will take care of the daily and monthly responsibilities that make being a landlord complicated and tiresome. This includes advertising, screening, leasing, maintenance, upkeep, fielding complaints, giving tenants pertinent information, and much more.