How Salt Lake City property management companies attract long-term tenants

How Salt Lake City property management companies attract long-term tenants

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Establish long term relationships with your renters to increase the profitability of your Salt Lake City rental property.

Truth be told, long-term tenants are not “attracted” but rather “created”. Tenants who renew their lease year after year do so because their current living situation suits their needs. The moment it stops doing so they will move – guaranteed. So the answer to the question of how to create long-term tenants really becomes how to make sure your property continues to meet the needs of your residents.

So how is a Salt Lake City property manager supposed to know how well a property meets the needs of their tenant? Simple, just listen to them. Every time you communicate with your resident, they are giving you clues about what is important to them. Pay attention, keep good notes and respond in a timely manner to tenant concerns and you will increase your renewal rate. Also, these tips will certainly help.

1) Treat your residents with respect. It’s easy to fall into the bad habit of treating your tenants like an inconvenience. After all, every time they call it’s to fix this or complain about that, right? Wrong. It’s an opportunity to listen to their needs. Professional property management companies in Salt Lake City pay attention to what’s important to their tenants and take steps to address their concerns.

2) Go the extra mile. Going above and beyond for your tenants is about the little things. Build goodwill by giving them a small gift at move in, sending a holiday greeting card, or remembering to wish them a happy birthday. Small gestures like these add a personal touch to an otherwise all-business relationship and can mean the world to some people.

3) Find out what’s important and give it to them. Property management firms in Salt Lake City who put an emphasis on tenant retention usually keep excellent records. Go back through your notes and see what clues they’ve given you about what they value. If you find they’ve had problems with a stubborn appliance, offer to replace it when you reach out to discuss a lease renewal. They will certainly appreciate the gesture, and you’ll find that spending a few hundred dollars replacing an old dishwasher is far cheaper than finding new tenants.

By taking simple steps like these, many Salt Lake City property management companies are able to drastically increase their resident retention. Ask anyone who manages rentals for a living and they’ll tell you that an increase in resident retention equals an increase in your profitability.

If you’d like to learn more about how to create long term tenants, then contact us today.

Renting from a landlord vs. a Salt Lake City Property Management Company

Renting from a landlord vs. a Salt Lake City Property Management Company

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Does renting from a Salt Lake City property management company offer advantages over renting from an individual landlord?

Property management firms in Salt Lake City have a tremendous value to an owner, but as a tenant, you may wonder how a Salt Lake rental property manager can benefit you. Depending on your situation, these companies can be just as valuable to a tenant and more effective than renting from an individual landlord. Below are three reasons why every tenant should consider using a Salt Lake City property management company:

Reason #1: More advanced tools – Unfortunately, the tools utilized by a rental property manager and an individual landlord are not always equal. Most property management firms in Salt Lake have evolved to making renting a home much easier by accepting online rent payments and submitting maintenance requests through an online portal, while many landlords have remained content with having tenants mail a rent check each month and placing a phone call that may or may not be returned for each maintenance issue. If you want to take advantage of the tools that make renting a home more convenient for you, you may want to consider leasing from a company that specializes in property management in Salt Lake City.

Reason #2: More consistent communication – Consider this scenario…you have an issue with your rental property and have tried reaching out to your landlord. You wait for your email and phone calls to be returned, but you never hear back. Unfortunately, this is a very common occurrence when dealing with an individual landlord. While many property management firms in Salt Lake City have drawbacks, you can expect a level of consistent communication before entering into an agreement and also during your tenancy.

Reason #3: Better service – If you have ever had a maintenance issue with your rental property, you know how long it can take before the landlord fixes the problem. Property managers in Salt Lake are experienced in prioritizing maintenance issues and having them resolved in a timely manner. It’s the Salt Lake City property management company’s job to take care of all maintenance and repair issues as quickly and efficiently as possible.

At the end of the day, if you find a property that works best for you, you should consider leasing it regardless of whether it is managed by an individual landlord or property management company in Salt Lake City. If you are a tenant that is interested in renting a home in Salt Lake City, please consider renting from FRE Real Estate and Property Management. Please click here for a list of our available properties.