Poor property management response times, such as taking 5 days to address maintenance issues like broken HVAC systems, cause tenants to leave even when they have been paying rent on time for years, because tenants feel ignored when problems arise.
Deep Dive
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Deep Dive
The Property Management Problem That’s Costing You Good TenantsHinzugefügt:
Your tenants aren't threatening to leave because you're charging them too much rent. They're leaving because it takes your property manager 5 days to return a phone call about a broken HVAC system.
They're leaving because when something goes wrong, they feel completely ignored. You thought hiring a property management company would solve problems, but instead it created new ones, worse ones. The company you hired to take care of your property is treating it like a number on a spreadsheet, not something that they value and take ownership in.
Nobody there knows your tenants by name.
Nobody there treats it like their own investment. And meanwhile, you're about to lose a tenant who's been paying on time for 4 years because nobody would fix their loading dock door fast enough.
Here's the thing about tenant retention.
Someone's actually taking care of the people you already have. Most property management companies talk about tenant relations, but the simple truth is they're just collecting rent and avoiding phone calls.
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