Finding a good tenant is one thing. Tenant retention is another! Many would argue – “why should I care about the tenant?” Well, the truth is pretty simple. Tenants own properties too! They can, or may already be, landlords, purchasers and have a connection of friends and family with rental properties of their own.

So in short, yes you should care about the tenants! Without tenants, we would be out of a job. Harsh, yet true!  So how can we keep them happy? Truth it is pretty simple really.

I frequently look at reviews posted to Google regarding agents and property management agencies. Most of them are 1 star reviews. As we all know, people are more willing to post negative reviews than positive ones. Most are from disgruntled tenants whinging about the unfair treatment at the hands of their agent. Yes it is true – we cannot keep everyone happy. In a perfect world, yes. What is important is realising the small things that can go a long way in keeping the lines of communication open between agent and tenant. This way, the tenant receives a positive experience, is likely to remain on in the property, and more likely to rave about you to their friends and family.

So what are these magic steps you ask?

5 Steps to a Happy Tenant

  1. Tenant Portals

    Tenant portals are relatively new technology to hit the property management scene for cloud users. If every tenant had access to a tenant portal, life would be so much easier. Tenants can:

    • Log maintenance requests online
    • View the status of maintenance jobs
    • Download rent receipts
    • See all information related to their tenancy

  2. Tenant move in pack

    A move in pack will help your tenant not only be loaded with helpful information but also to feel a little special! Think of all the info you could include such as bin nights, emergency contacts and local area information. A definite essential for tenants who are new to the area or for interstate or overseas tenants. AirBnB do this well. You’ll notice AirBnB encourages hosts to leave a folder with key property information. The same protocol can be carried through to permanent rentals. It’s an extra touch that goes a long way. Try hitting up some local businesses to offer some free coffees, discounts or loyalty programs to recruit the tenants as new customers for their first week in their new property. Don’t be afraid to think outside the box!

  3. Explaining rental payments

    Taking the extra time to run through the lease agreement will save countless hours of questions down the track. Spending an hour or two walking through the new lease will allow your tenants to ask any pending questions and for you to clarify all aspects of the lease.

  4. Providing ongoing information

    Newsletters are a great way to communicate with your tenants. Changes to legislation, your agency, compliance issues (such as smoke alarms) or any tenant related matters are best in writing. As previously mentioned, outsourcing these details are often the quickest and easiest option. Outsource to a copywriter and use a user-friendly platform such as Mailchimp to send fully branded emails to your tenants.

  5. Surveys

    Surveys are a fabulous way to get to know more about your tenants. Plus, they are quick and easy (with the option of anonymity) for tenants to complete. Free tools such as Survey Monkey provide a user-friendly, branded platform with questionnaire templates to choose from to get you started. Choose from a pre-made questionnaire, or tweak it to make it your own. You can find out a host of information including: their communication preferences, whether they have other properties, their tenant needs and future plans. It can also provide an insight into how your agency is performing or where any weaknesses may be. Where do your Property Managers need to spend more time? What areas are you performing well in? Once again, it shows the tenant that you care about them and taking the time to understand their individual needs.

Happy wife, happy life. Happy tenant, happy property management agency!

– Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 20 years industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.