How the Tenant Experience Can Optimise Your Occupancy Rate
Unless you’ve somehow missed the news over the past 12-odd months, you’ll know that rental markets have been in flux. With vacancy rates rising for private rental properties in Sydney over the last year, it’s never been so important to ensure that quality tenants are having a positive experience living in your property. This has always been one of our central principles at Let’s Rent: if you have great tenants in place, let’s do everything we can to keep them happy and renewing that lease!
Here are four of the most essential factors for a great tenant experience, and how each can help to keep your property consistently leased.
Many people have had a tough time of things throughout the pandemic, and clear, responsive communication is more vital than ever in providing peace of mind for tenants. Our residential property management services in Sydney are focused on maintaining respectful relationships with tenants and outlining expectations with clarity, so the tenant is never left in the dark. This includes answering phone calls and emails, and providing our personalised online portal to keep documentation and policies all in one place.
Maintenance is, of course, an important element of a great tenant experience. Repairs and maintenance are to be expected with most properties, and it’s how these requests are handled that can determine whether the tenant chooses to stay on in the long term. We provide an urgent 24/7 phone number for all repair issues that can’t wait, as well as a straightforward online form for non-urgent repairs. Having a reliable network of trusted trades available at short notice is also essential to a positive tenant experience.
Consistency and reliability
Peace of mind is something both tenants and landlords are looking for, and having the right structures in place can help to provide that peace of mind. For example, at Let’s Rent 99% of our tenants pay via direct debit and understand from the very beginning that there’s zero tolerance for arrears. We take great care in adhering to the NSW Residential Tenancies Act, for example providing plenty of notice for rent inspections. Having this reliable framework in place benefits everyone: reassuring both tenant and landlord that their rights are protected and respected.
Proactive lease management
The end of a lease provides the ideal opportunity to retain a great tenant. Tenants may be going through any number of decisions as their lease nears its completion, including whether to move to a new area, choose a new property or to negotiate on rent. By communicating clearly with them ahead of time, we can get a sense of where the tenant is at and ensure a competitive rate for your property if they wish to stay on. We find that being proactive at this particular stage can save both tenants and landlords a lot of stress, in many cases!
If you’re been searching for the right property management team for rental properties in Balmain and Sydney’s inner west and eastern suburbs, get in touch with Let’s Rent today.