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How Property Management Companies Retain Tenants

By Lidopm Subscribe to RSS | May 31st 2012 | Views:

Regardless of the city, certain Orange County property management companies have been able to build up impressive tenant retention rates that directly translate to more profits for the complex or property owner. At the heart of quality property management solutions is an unerring commitment to quality that is manifested in a number of different ways. The end result of this high quality and attention to detail is that tenants feel more at home in their new rental and are less willing to search out a more attractive or cheaper property. As with many other businesses, the secret to providing top notch quality starts with the employees that will have direct interaction with the renters.

As the first point of contact, property management staff should react as quickly as possible to tenant requests and maintenance issues. The way that good property management companies are able to accomplish this aspect is to empower their employees and reduce the number of steps needed to correct a problem or help a tenant with a specific request. By giving the employees more responsibility and a greater freedom to do their job well, staffing turnover decreases and these companies are able to establish a stable face that represents the business instead of a new face every few months. Even small touches, such as hosting a monthly party or organizing a complex yard sale can go far to develop a true sense of community among tenants and help bridge the divide between the staff and tenants.

While customer service should obviously be the biggest concern of a property management company, the attractiveness of the property should also be kept in mind. Tenants will feel more comfortable coming home to a clean complex or house and companies that are careless about landscaping and general maintenance will soon notice more tenants deciding to look for another place. Any good property management understands that providing a superior product is not only good for the tenants, but also the owners. Less tenants leaving means more money in rent for the owners, which can justify a higher commission for the property management firm.

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