When managing a rental property, the most significant factor in overall profit is the percentage of vacant apartments within the property. When tenants are happy, they remain living in an area, they provide good referrals to their friends, and they are more likely to pay their rent on time every month. To keep tenants from seeking living arrangements in a new apartment, it's important to understand what tenants seek in a rental property.
Enough Laundry Facilities
When tenants live within a property, they want to have easy access to the laundry facilities. The laundry should include enough washers and dryers for the tenants that live within the building. It's frustrating for tenants when they have to always wait to use the washer and dryer. It's also important to make sure that the equipment is in good working order, as people don't want to waste their money on broken machines.
Added Perks Like Including Heat
If you live in an area that has cold winter months, then you understand how important it is to tenants when heat is included in their rent. Including heat and working it into the price of the rent allows tenants to live more easily on a budget every month. While the tenant is still paying the cost of the heat because the rent is higher, it is easier to pay the same rent every month than to have a big heating bill when the weather is cold.
Allow Online Rental Payments and Online Access to Non-Emergency Maintenance
Residents love convenience. Setting up an online payment center allows residents to pay their rent online every month without having to worry about paying with a check. It's easier to pay bills online for many people, and this is a perk for people who love to pay their bills online.
It's also possible to allow residents to request routine maintenance online through your business website. This is a great way for clients to reach you any time of day without having to field a lot of calls. Clients will also have an email record of their request so that they can remember when they made the maintenance request in the first place.
When you keep tenants happy, they aren't going to move out as quickly, and they will refer their friends and family members to you as a landlord. Taking care of your tenants improves your overall profit and ensures that your apartments are full every month. For any additional assistance, contact a local property management company, such as Advanced Property Management.