Tenant satisfaction leads into profits

A good tenant experience is a considerable competitive advantage for the landlord. Landlords are responsible for many tasks when managing rental apartments: tasks range from maintaining physical condition to administrative tasks. The importance of the tenant experience is often forgotten, even though it is one of the most important factors in creating a long-term tenant relationship.

Less tenant turnover and more stable income

Providing a positive experience is important for several reasons. First of all, satisfied tenants are more likely to extend their lease, which means less tenant turnover and more stable income for the landlord. Secondly, moving out is expensive: when the tenant changes, the landlord faces a lot of different costs and the tenant's move causes a loss of income for months of rental income. According to a study by StatisFacts, even a 5% increase in the duration of the customer relationship increases income by up to 25-95%.

Lifelong tenancy

In addition to financial benefits, a good tenant experience improves the reputation of the property and the landlord. Tenants who feel valued are more likely to leave positive feedback, which helps to attract new tenants. In addition, the reputation for a positive experience makes negotiations with new potential tenants easier and enables the rent level to be increased.

However, sometimes the tenant decides to move due to a changed life situation. If the rental housing company operates in several locations, a satisfied tenant will certainly be willing to move to the same company's location, because it is also easier for them.

In summary, landlords should make providing a positive and pleasant tenant experience a high priority. It not only leads to more stable income and a higher occupancy rate, but also helps to keep the reputation of the property and the landlord high!

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