Happy tenants are the key to the success of your property investment. Here are typical costs for turnover from unhappy tenants. And keep in mind none of the “soft” costs are identified here. These will include negative social media reviews, bad word-of-mouth referrals, and possible departing damage from unhappy tenants.

5 ways to keep tenant happy:

  1. Keep up-to-date on maintenance.
  2. Communicate often and accurately.
  3. Find out what is most important to YOUR tenants.
  4. Demonstrate the value of a longer lease by reducing rates.
  5. Be strategic in your RELATIONSHIP with them.

Thanks to mysmartmove.com for the inspiration for this post.