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How To Get Tenants To Renew Leases In San Mateo, CA

How To Get Tenants To Renew Leases In San Mateo, CA
By Roger D. Eagleton - Thursday, March 7, 2024

Within a single year, nearly 63% of renters renewed their leases. How many of your renters renewed last year? Generating more lease renewals in San Mateo, CA can boost your ROI.

You won't have to worry about the cost of marketing, vacant units, or tenant screening. Not sure how to encourage more renewals? Read on for the strategies you need for retaining great tenants!

Nurture Relationships

Start nurturing a strong tenant-landlord relationship the moment renters sign their lease agreement. Show tenants that you care about their needs. They'll be more likely to stay if they consider you a cooperative, friendly landlord.

Make it easy for tenants to reach you when they have inquiries or concerns. Consider using an online tenant portal to streamline communications.

When tenants reach out, be respectful, professional, and patient. Over time, they'll come to trust you.

When a tenant's lease is about to lapse, send a 90-day notice (your tenant portal can automate these messages). Providing an early notice will encourage them to consider their options.

Remain willing to negotiate. About 25% of renters are negotiating rental rates when it's time to renew their leases. You can make back these lease renewal fees if you retain renters.

Prioritize Rental Property Maintenance

Tenants won't want to renew their leases if the property is starting to crumble. Invest in ongoing rental property maintenance. Schedule routine inspections to spot problems before they get worse.

Allow tenants to submit maintenance requests online. Try to fulfill these requests as quickly as possible. The longer they have to wait, the more annoyed they could become.

Offer a Rental Property Upgrade

Offer a rental property upgrade to encourage renters to renew. For example:

  • Open floor plans
  • Doggy daycares
  • A gym on-site
  • A fresh coat of paint
  • Energy-efficient windows
  • New kitchen appliances
  • Smarthome technology

Talk to your tenants. They can help you recognize what your rental property is lacking.

Consider Tenant Incentives

Encourage more lease renewals by offering tenant incentives. For example:

  • Cash gifts
  • A gift card to a local shop or restaurant
  • A month off rent

You can offer free or discounted amenities and services. Consider a free cleaning service, Wi-Fi, or pet care.

Start fostering a stronger sense of community. Host charity drives, barbecues, and movie nights. Send birthday cards, welcome baskets, or holiday cards each year.

Simplify the Lease Renewal Process

Make the lease renewal process as easy as possible for your tenants. Use your online tenant portal to send the renewal agreement.

You can outsource this process to a property management company. Your property manager can foster strong tenant-landlord relations on your behalf. Their proven strategies can help you generate more renewals.

Generate More Lease Renewals in San Mateo

Increasing lease renewals in San Mateo, California will help you maximize your earning potential. Use these effective strategies to keep your best tenants. Otherwise, ask for help.

At Five Star Property Management, we pride ourselves on our attention to detail. We can take your rental properties to the next level using proven strategies.

Leverage our extensive knowledge and industry experience! Contact us for help generating more lease renewals.

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Roger D. Eagleton
President / Broker
Looking for a property management expert who can take your rental properties to the next level? Look no further than Roger D. Eagleton, a true seasoned professional with a diverse background in real estate. After earning his degree from California State University, Bakersfield, Roger began his career in the real estate industry with several national banking and lending institutions, sharpening his skills in real estate finance. He later founded Energy Real Estate and Five Star Property Manageme...
Looking for a property management expert who can take your rental properties to the next level? Look no further than Roger D. Eagleton, a true seasoned professional with a diverse background in real estate. After earning his degree from California State University, Bakersfield, Roger began his career in the real estate industry with several national banking and lending institutions, sharpening his skills in real estate finance. He later founded Energy Real Estate and Five Star Property Management and has since been committed to providing his clients with the highest quality property management and real estate services. With an extensive knowledge of residential income property, Roger is well-equipped to take on the unique challenges of managing rental properties. He works closely with private investors and court-appointed conservators to ensure that fiduciary properties are managed to the fullest potential. He also has a wealth of experience managing single-family homes, apartment buildings, and commercial properties and holds a California Real Estate Broker’s License, BRE# 01791264. But Roger's expertise doesn't end there. He is also a championship-winning professional race car driver, who used his platform to give back to the community through various philanthropic activities and charities around the greater bay area, including serving as a driving coach for NASA’s Teen Car Control Clinic. He understands the importance of safety, and his coaching has helped new drivers improved confidence and experience on the road which ultimately saves many lives. When you partner with Roger and his team, you can trust that your rental properties are in the hands of an experienced and dedicated professional who always prioritizes the investment goals of his clients. With Roger's knowledge, experience, and passion, you can rest assured that your rental properties will be managed to the highest standard, maximizing returns and minimizing headaches for you as the owner.
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