Tenant satisfaction should be one of your top priorities as a rental property owner in Florida. No tenant means no source of income, and that’s typically the primary goal of owning a rental property. Taking care of your rental property tenants contributes to not only their satisfaction, but yours as well.
As professional Tampa property managers, we know the ins and outs of successfully managing rental properties. We’re here as a resource for you, so we’ll let you in on our 10 proven strategies for tenant satisfaction in Florida!
1.) Communication
As a property owner or property manager, an open line of communication with your tenant is a necessity. According to the lease agreement, a property owner will have specific obligations to uphold. In this agreement, the property owner is typically responsible for communicating any issues or updates relating to the property, in addition to responding to general tenant inquiries.
No one likes to be ghosted, especially a tenant who is trying to get in touch with their landlord. Whether your tenant’s inquiry seems like a pressing issue or not, you have a responsibility to respond and resolve any issues promptly and efficiently.
Effective communication and attentiveness can lead to a high tenant retention rate. Renewing the lease agreement with a tenant ensures continuous occupancy of your property, eliminating any periods of vacancy and ensuring monthly payments are complete. When a quality tenant chooses to extend their lease, it significantly contributes to maximizing your profits as a property owner.
2.) Property Maintenance
Maintenance and upkeep are typically at the top of the list of tenant concerns. A well maintained home not only attracts tenants, but leads to a smoother renting experience.
As a rental property owner, you should aim to keep the house in the best condition possible, at all times. Tenants do not want to deal with broken appliances, leaks, or any surprise issues. We know sometimes things happen, but any maintenance issues you are aware of should be addressed prior to your tenant’s lease term.
If you try to hide any maintenance problems to avoid spending money or to decrease the vacancy period, the issues will most likely show up eventually and lead to a bigger conflict with your tenant. If your appliances are on their last leg, it’s better to replace them instead of holding out hope for their functionality.
For example, a broken air conditioner or pests in Florida does not only make the day unenjoyable, but can lead to dangerous living conditions. A broken AC or pest infestation will make your tenant extremely unhappy, and minimal efforts to replace it can end up costing you a tenant and months of lost rental payments.
3.) Rental Property Upgrades
Rental property upgrades are highly recommended and will assist in attracting potential tenants between rental terms. Staying up to date with current trends and renter preferences is important for your property’s overall desirability as tenants typically prefer an updated home.
Not only do upgrades attract applicants, but they also add value to your property. When comparing your property to similar ones in the area, upgrades are taken into consideration to price your property accordingly. If a similar property does not have the updates your property has, the value of your property will typically be higher. This will give your property an advantage over the competition, thus contributing your financial returns and rental property success.
The most valuable property upgrades include:
- Kitchen upgrades such as appliances, fixtures, countertops, and cabinets
- Floors
- Curb appeal
- New windows
- Appliances such as washers, dryers, and ceiling fans
- Neutral paint colors
4.) Flexible Rent Payment Methods
Collecting rent is an essential aspect of owning a rental property as rent payments fuel your income which may be necessary for maintaining and managing your rental property. With that in mind, it’s essential to be flexible to your tenant’s payment preferences.
As technology continues to advance, renter’s preferences also continue to shift towards favoring online rental payment methods. According to Buildium’s 2024 Property Management Industry Report, “61% of renters would like to be able to make rent payments online, an increase of nine percentage points since 2022 and 20 points since 2021”. In addition, 70% of renters feel an online resident portal is essential.
Although the majority of renters prefer online payments, there are still 39% of renters that prefer other payment methods. It’s important to offer multiple payment options to accommodate various needs and preferences and ensure smooth rent transactions.
The payment methods we recommend accepting are:
- Online resident portal
- PayNearMe
- Cashier’s check
- Certified check
- Money order
5.) Respect Your Tenants’ Privacy
As a rental property owner, it is extremely important to remember that although it is your property, your tenants are paying to live there. While you have tenants occupying your property, you do not have complete access to the property anymore; you agreed to rent it out and you must adhere to privacy regulations.
Owning the property does not mean that you can come in and out as you please. According to Florida law, a landlord may enter the property to:
- Complete necessary repairs
- Make an improvement to the property
- Check for damage
- Show the property to a potential tenant or buyer
Prior to doing so, the landlord or property owner must give reasonable notice to the tenant. Florida Statute 83.53(2) defines reasonable notice as 12 hours prior to entering. This must occur between 7:30 a.m. to 8:00 p.m..
Violating your tenant’s privacy is not only unsettling for the tenant, but can lead to further, and potentially legal, conflict.
6.) Safety and Security
On top of privacy, tenants value and prioritize safety and security. Like most people, your tenants want to know their living situation is safe and secure.
For potential rental property investors, we highly recommend checking the crime rate in the area prior to purchasing a property. The location of your Tampa rental property will have a significant influence on your rental experience.
To ensure your property is secure, it is essential to rekey your doors in between tenants. Rekeying your property is a necessary safety precaution that protects both your tenant and your property.
The only people who should have access to the property are you and your current tenant. Your renter should not be living in a home in which previous tenants have access to.
Although you may have collected keys from your previous renters, the chance that they have a copy is possible. Even if your past tenants seem to pose no threat, rekeying your home is still an essential aspect of turning your home in between tenants and should be added to your rent ready checklist.
Is Tampa Safe?
According to the Hillsborough County Sheriff’s Office (HCSO), crime impacting people and property in Tampa has significantly decreased over the past year. With an exponential increase in population, the HCSO has taken measures to ensure the overall safety of Tampa residents. An 8% decrease in crime shows the HCSO’s level of dedication to safety and security.
7.) Transparent and Fair Lease Policies
Rental property owners have the responsibility of creating and implementing lease policies, which should be transparent and fair. Lease policies will vary depending on the type of property, location, and lease term, however, the one thing they should all have in common is transparency.
To ensure the smooth operation of your property and avoid conflict with your tenants, all lease policies should be clearly communicated and written in the lease agreement.
Some essential aspects of a lease agreement include:
- Lease term
- Rent amount and payment terms
- Security deposit amount and policy
- Utilities and maintenance responsibilities
- Use of property, including any restrictions
- Occupancy limits
- Landlord entry rights
- Any rules and regulations specific to the property
All policies and regulations you intend to enforce during your tenant’s lease term must be included and outlined in the lease. Attempting to enforce anything not included in your lease agreement will lack validity, and may lead to conflict between you and your tenant.
8.) Pet Friendly Rental Property
Allowing pets is typically a tough decision for rental property owners, however, it shouldn’t be. Statistics show that 72% of renters have pets, leaving only 28% of renters pet-less. With that information in mind, do you think prohibiting pets is a wise decision for your rental property?
As Tampa property managers and owners ourselves, we understand why allowing pets in your rental property may sound unappealing at first. Many property owners are hesitant to allow pets because of a fear of potential damage, but we’re here to tell you there are more positives than negatives.
Pet friendly properties tend to rent faster, and retain those tenants for a longer period of time. When pet owners find a satisfactory pet friendly rental property, they are more likely to renew their lease instead of going through the search for a pet friendly property again.
Some additional benefits of pet friendly rental properties include additional rent and tenants who expect to pay more for rent. At The Listing Real Estate Management, our clients receive an additional $25 a month in pet rent if the tenants have pets. Most pet owner renters expect to pay more to put a “roof” over their furry friends heads!
9.) Tenant Appreciation Events
For Tampa multifamily rentals and apartments, offering tenant appreciation events will attract applicants and earn a good rating on the tenant satisfaction scorecard. Many Tampa apartment complexes and multifamily communities host monthly complementary resident events like happy hours, game nights, and even pet friendly events.
Tenant appreciation events, of course, show the tenants you appreciate them, but also serve as a means for a reliable tenant-landlord relationship. A solid but professional relationship with your tenants will allow for open communication and trust — an essential contribution to a profitable rental property venture.
10.) Hire a Professional Property Management Company
If this list of tips for tenant satisfaction seems to be too much to handle for you, that doesn’t mean you have to get rid of your rental property. Hiring a professional property management company will minimize the stress of running a rental property while maximizing your profits at the same time.
An experienced property manager will take over the daily operations of your property, allowing you to reap the benefits of your investment with little to no work. At The Listing Real Estate Management, our full service property management includes:
- Marketing and leasing
- Tenant screening
- Rent collection
- Maintenance and repairs
- Rental property accounting
- 12-month tenant guarantee
Whether you’re a first time rental property owner or an experienced investor, working with a property manager can make all the difference in your property’s success.
At The Listing, the difference is in the details with our management services & operations. Our goal is to be a resource for our clients at all times. We listen and tailor our services to each specific need. The experience and unique skill sets throughout our team maximize our clients’ ROI. We execute on the little things, and the attention to detail we pay to you and your investment property directly affects your bottom line. Our clients appreciate the accessibility they have with our team and the communication, which is key for best-in-class service, and we deliver on this.
To experience the difference and maximize your tenant’s satisfaction, contact us today at The Listing Real Estate Management, your boutique property manager!
