How to Retain Your Best Miami Rental Tenants: Our Guide

As a landlord, of course, you would want to have the best tenants on your property. The best tenants are those who are paying rent on time, easy to communicate with, responsive, understanding, and friendly to deal with. If you have this kind of tenant on your property, they are definitely for keeps.

However, you cannot control them if ever they decide to shop around for a new place. The best thing you can do is follow these tips so that the best tenants on your property will stay put. Here’s our guide on how you can retain your best Miami rental tenants: 

Tip #1: Treat Them with Respect

Tenants will most likely choose to stay at your property if they get the same respect, even if they accidentally miss paying the rent on time. It’s essential to make them feel valued and not look at them as a monthly paycheck. Always be there for them whenever they call with a problem and hear them out rather than jumping to conclusions. Moreover, address their concern in a timely manner so they wouldn’t feel that you do not care for them. 

Tip #2: Set Your Rates Wisely and Fairly

Part of the factors why tenants tend to look for a new place to stay is because of the rates of their current apartment. Sometimes they feel like the rates are high compared to other properties that offer the same features. To avoid this, make sure to research similar units in the area before you set your price. As much as possible, offer them a better deal, wherein they can feel like they’re getting a reasonable, fair price that they couldn’t find elsewhere. 

You must also do this when it’s time to increase your rates. While raising rental prices is necessary each year, or every few years, it’s still important to maintain a fair price. Avoid increasing your rent dramatically because you’ll also raise a red flag to your tenant. 

Tip #3: Offer Them Incentives

Another way to convince the best tenants to stay on your property is to offer them renewal incentives like gift cards, discounts on rent, and other kinds. This way, they’ll be encouraged to renew their contract on your property, and you can keep good tenants in place. 

Tip #4: Look for a Reliable and Professional Property Manager

If you have a professional and reliable property manager, they can contribute a lot to keeping your best tenants because they know how to take care of the tenants, talk to tenants, fix any potential problems, and increase renewal traffic. They are trained to manage your property and tenants well. As a result, they can attract great tenants and keep them in your units. 

Conclusion

Having the best tenants is the dream of most landlords. As a landlord, you need to do a lot of work in order to achieve that dream. If you want to retain your best Miami tenants, consider following our tips. Who knows? You may not just retain them but also attract great new tenants in Miami. You can also keep them for longer, which means more profit and fewer costly vacancies. 

If you are looking for the best property management company in Jacksonville, FL, Quest Real Estate is what you’re searching for! We specialize in all types of residential and commercial property management, including single-family investment homes, commercial office buildings, restaurants, retail centers, boutiques, and much more. Get in touch with us today to know how we can help you!