Retaining a good tenant in your St. Louis rental property is just as important as finding one. If you don’t pay attention to tenants’ concerns and needs while they’re staying in your property, they might face inconveniences, feel neglected, and may no longer want to continue living in your rental. When good renters move out or don’t opt for lease renewal, you need to redo everything, from marketing to screening, which can quickly become exhausting.
To help you retain your tenants, we have shortlisted five of the most common reasons why renters move out of a St. Louis property so you know what you can do to get them to stay.
1. Dissatisfaction With Property Management Services
Lack of efficient property management services can annoy tenants like nothing else. Frequent and unresolved maintenance issues such as clogged drainage, leaky roofs, non-functional appliances, and a pest infestation can make life hard for the renter, making them move out.
Landlords need to address their requests, conduct proactive maintenance, and resolve issues before they get unmanageable, rather than waiting for the tenants to submit maintenance requests.
2. The Rent Is No Longer Affordable
Tenants may leave your property if they find the rent unaffordable due to rent hikes, job loss, or pay cuts. In such situations, they might search for another rental at a lower cost. If you want to retain them, consider having a word with them, try to empathize with their problems, and possibly, offer some temporary concession in the rent amount. If possible, you can also suggest they move to another cheaper vacant unit that you already own.
3. Lack Of Communication
Landlords often tend to manage property-related issues at their end, without keeping tenants completely in the loop. However, this ‘why-mention-anything-unless-important’ attitude is the wrong approach. Unclear communication can make your tenants feel like they are being purposefully kept in the dark, which can lead to unnecessary misunderstandings.
As a St. Louis landlord, you should practice effective communication. Keep your lines open, share your phone number, address, email-id, and respond to tenant complaints quickly, thus building a healthy landlord-tenant relationship.
4. Noisy Neighbors Could Be A Problem
Like everyone else, your tenants would want to live peacefully and happily in their homes. However, if there is constant noise around the house or troublesome neighbors in the neighborhood, they might think of relocating.
While there’s not much you can directly do about noisy neighbors, you can immediately address your tenant’s noise complaints. Include quiet hours policy in a lease agreement if you are renting a multi-family property. This can enable tenants to enjoy their stay for a longer time.
5. Safety Issues in Your St. Louis Rental
If your rental property is in an area where the crime rate is high, your tenants may feel unsafe or threatened. Landlords need to take reasonable steps to ensure that tenants feel protected and stay longer. You can install security gadgets like CCTV cameras, doorbell cameras, outdoor lighting, loud alarms, motion sensors, digital locks, and more to make tenants feel more secure.
Other Reasons for Moving Out
Sometimes, tenants may decide to move out because of their personal reasons like health concerns, family issues, marriage, divorce, or a job change. Plus, if you’re renting out to students or youngsters, you need to be prepared for vacancies, as they typically move out after their education is complete.
There are a number of reasons for which renters might want to leave your property and a high tenant turnover is a significant risk for your rental business. It can be beneficial to take help from an experienced St. Louis property management company, like Amoso Properties, to take care of your tenants’ needs.
Amoso Properties is a full-service property management company in Saint Louis, serving St Charles, Clayton, Ballwin, St Peters. We offer all types of property management services for single-family and multi-family apartments. For more information, contact us at Amoso Properties.