3 Tips for Reducing Vacancy in Your Columbia Rental Home and Keep the Cash Flow Coming In

System - Tuesday, February 14, 2017

When you own rental property, you need to focus on avoiding vacancy so you can protect your rental income. Knowing how you can keep your rental home occupied and keep your Columbia tenants happy will help you achieve that goal. You don’t want to lose good residents or the cash flow that comes with them. We have a couple of tips for Columbia landlords.  

Develop Relationships

Establish and maintain good relationships with your tenants. To do that, you need to communicate well. If your tenants are communicating concerns with you, try to be fast and responsive. Answer their questions and keep them in the loop.

Take Care of Maintenance 

Be speedy and thorough when it comes to maintenance. One of the number one complaints we hear from tenants is that maintenance isn’t completed on time. Repairs are a fact of life and if you have a rental home, things will go wrong. Most tenants understand that it’s not the owner’s fault, just part of owning real estate. If you can resolve issues in a timely manner, especially large issues, you’ll keep your tenants happy and they’ll be more likely to stay in the property. Even if you cannot fix things right away, communicate with your tenant. Let them know you’re working towards resolving the situation. 

Offer Incentives

Think about incentives to keep your Columbia renters in the property, especially if they are good tenants you don’t want to lose. You can offer free rent potentially, or a discount on rent when they renew their lease. It might also be a good idea to make upgrades to the home. There are things tenants 
might enjoy that will also add value to your property. Add a storm door to the front door; tenants will appreciate keeping the door open to allow the light and fresh air in. Then, it stays with the property. Ceiling fans in the bedroom will help in hot summers and it’s a benefit to you as the owner as well. 

Listen to your tenants and communicate with them. That will go a long way in avoiding vacancy and keeping great tenants. If there is any other help we can provide with Columbia property management, please contact us at Turner Properties.