The nature of renting is often transient, however a lower tenant turnover will mean lower costs.

Retaining your current tenant:

• avoids costs of advertising for a new tenant
• reduces clean-up costs and other superficial wear and tear maintenance expenses
• avoids potential income loss if your investment property becomes vacant between tenants
• avoids potential security issues of a vacant property

So how do you encourage your tenants to put down roots in your investment property?

• maintain the look and quality of the property – many tenants that become dissatisfied with their rental home cite issues such as “the property went downhill” among their reasons to relocate
• tenants can become attached to the routine they have with their property manager
• ensure any maintenance issues are dealt with promptly
• ensure tenants right to privacy is maintained

Offering a well maintained, comfortable home with a knowledgeable and reliable property manager will help retain your tenants come renewal time.