We’ve said it before and we’ll say it again: When you buy rental real estate, you’re entering into a small business.
As with all businesses, large or small, customer service should always be a major priority. After all, it’s easier and cheaper to retain customers than it is to find new ones.
As a Landlord, this holds true for you, too.
Maybe even more so than many other industries.
Effective Property Management is a critical component of any successful buy and hold strategy. If your Tenants renew, you save a TON of time, energy and money.
To maximize your investment, you should strive to retain good Tenants and avoid vacancy, which, as we’ve noted before, is a cash flow killer.
Arguably, one of the best ways to keep your Tenants happy is to practice good maintenance processes.