November 2nd 2016

Inspire Tenant for Lease Renewal

There are infinite numbers of ways in which you can show your residents that you appreciate them, from trick-or-treating to parties, all is done with the hope that the resident will stay for a year more or even longer.
Lease renewal time is time when you actually get to know how happy the tenant is in real life. Those who renew their lease are probably more satisfied than your services the rest of the tenants who decide to search for new rental unit.

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So, how can you make sure that tenants who are moving to another rental unit stays with you like the other who are happy and satisfied with your services. One truth about moving is that it’s a heavy work and also an expensive one and everyone hates doing it. If your tenants lease is coming to an end then it is not too late to offer them some attractive incentives because they know that rent is going to increase from next year and they need a change in scenery.

Below are some of the best ideas that can force your tenants to stay in your apartment for sometimes longer:

When it comes to lease renewal discounted rent is wildly popular among the tenants and they highly appreciate it because some extra cash in the pocket is what everyone likes to have. Consider waiving a month’s fees of parking, gym and of other such amenities or equivalent.

Think about upgrading the appliance. It is a big investment but think about the same tenant staying for more 2-3 years in your rental unit. Every tenant loves to use the brand new appliances and this upgrade is worth the investment.

In case you feel that upgrading the appliance is way too big for an investment then think about providing the gift cards of the local retailers such as grocery stores, restaurants and other famous amenities of your area/city/state.

Even the most sincere and careful of residents cause normal wear and tear and this is inevitable. Consider adding new carpets to the unit or giving complete unit a new look by applying fresh coat of paint.

Internet is full of suggestions and if you will search you will find some creative ways to deliver the lease renewal reminder notice. If you haven’t done it yet then make to add some creativity this time such as adding candy, keychain and gift cards from local shop etc. It is always the smallest gestures that make the biggest impact.

Best of luck with your lease renewal process and let us know which innovative tactics did you use for the lease renewal.

To know more how SimplifyEm Property Management Software can help you, visit this link: http://www.simplifyem.com/property-management-software

This post first appeared on Property Management Made Easy, please read the originial post: here