Multifamily data helps you manage your property for better profits and ROI. One thing to consider is how to keep your tenants happy so they’ll stick around. This means making sure you know the most common complaints so you can combat them and increase tenant retention. Read on to learn what the most common tenant complaints are and how to prevent these complaints at your property.
What are Common Tenant Complaints According to Multifamily Data?
Of course, there are many potential things that tenants may complain about. However, there are some top tenant concerns according to multifamily data. These include:
- Maintenance: Lack of maintenance, slow maintenance, or other issues can seriously affect your tenants. Make sure you have a clear maintenance request system and that you have enough personnel to handle maintenance issues promptly.
- Communication: Lack of communication is another common complaint according to apartment market data. Making sure you acknowledge emails and phone calls and proactively reaching out to tenants about issues that will affect them is a great way to prevent this complaint for your property.
- Noise: If other tenants in the building are noisy, this can seriously aggravate the tenants you want to keep around. Make sure to address noise complaints quickly and take effective actions to show they can trust you to take care of their complaints.
- Privacy: If a property manager comes into their home too often or with little notice, this makes tenants concerned for their privacy. Limiting visits to necessary ones and making sure you give ample notice is the best practice to keep tenants happy.
Using Apartment Market Data to Increase Tenant Retention
Knowing these common tenant complaints according to multifamily data can help immensely with tenant retention. Knowing some of the biggest pain points for your tenants can help you prevent them so they stick around and keep renting from you.
This is key, as tenant retention can seriously boost profits for apartment properties. If you retain good tenants in your property, that means you spend significantly less on tenant acquisition efforts like marketing and screening. Therefore, it’s a good goal to keep your tenant retention at about 60% or so. You can do this by making sure that your tenants are happy living in your community and can trust you to handle any problems they might have.
Top Quality Apartment Data Research from Apartment Data Services
Our team at Apartment Data Services provides superior apartment data research for your needs. We contact all the properties in our database on a monthly basis to ensure you have the most accurate and up-to-date information available. Our market reports provide you with a wide range of information, including rent prices, rental concessions, and property policies for your direct competitors. Get in touch today to get a free demo of our multifamily data services.