How to Reduce Tenant Turnover and Keep Your Rental Property Occupied

Conduct Thorough Tenant Screening

Finding suitable tenants at the start is essential to reducing turnover. Carry out in-depth background checks, verify their employment, and ask for references from previous landlords. Sourcing this key information can help you identify good tenants who are likely to stay long-term. Working with a professional letting agent in Basildon, such as Balgores, can ensure these checks are carried out correctly and efficiently.

Set a Competitive Rental Price

Setting the right rent is crucial for keeping your property occupied. If it’s set too high, tenants are likely to look elsewhere, especially if there are several other properties available for rent in the same area. Making sure the rental amount is fair and competitive not only attracts quality tenants but also encourages them to stay longer. Overpricing can lead to your property staying vacant for longer periods, reducing rental income and increasing costs. At Balgores, we can provide expert advice on pricing your property, ensuring it’s attractive to tenants whilst maximising your rental income.

Maintain the Property Over Time

Many landlords make the mistake of neglecting maintenance, thinking it’s only necessary when a tenant complains. However, ensuring your property’s upkeep over time is vital for retaining tenants, with regular inspections and prompt repairs helping to address their needs and keep them satisfied throughout their tenancy. Balgores can help you to manage ongoing property maintenance effectively, making sure all necessary work is carried out quickly and to a high standard.

Practice Good Communication

Communicating openly and politely with tenants is essential for reducing turnover. Respond quickly to enquiries and maintenance requests, whilst also ensuring you keep tenants informed about any updates or changes regarding the property. Tenants who feel listened to and respected are far more likely to stay long-term, reducing vacancy periods as well as the costs and hassle associated with finding new tenants. Making yourself easily reachable can ensure tenants feel supported throughout their tenancy.

Reducing tenant turnover is essential for maintaining steady rental income and protecting your property investment. Get in touch with the team at Balgores to ensure your property is well-managed and occupied with high-quality tenants for the long term. Our estate agents work with landlords to implement effective strategies for tenant retention, from thorough screening and competitive pricing to conducting regular maintenance.