Maximizing Renewals

By Leasing Team, Summerfield Management
With an easy turn cost of $1000 and a hard turn cost of $3,000+, it pays to keep your units filled with good tenants who are happy to pay market rent.
Our research identified six voluntary reasons tenants chose not to renew their lease.
When you review the list, you’ll notice non-renewals come down to two things: customer service and amenities.
Improving customer service and providing amenities at your property are essential steps to increasing NOI.
Here are some ways Summerfield uses this data to put money back in your pocket…
On the customer service front, Summerfield’s focus is on listening and promptly responding to tenant needs, addressing work orders in a timely fashion, hosting tenant appreciation events, offering incentives upon lease renewal (when appropriate), and keeping the condition of the property to a high standard.
In the case of amenities, we encourage our owners to offer affordable options such as smart locks, dog parks with a pet washing station, etc. We also offer modern communication tools that provide the ability to do as much as possible from a smartphone: pay rent, track repairs and communicate with site staff for things like package delivery status and property updates.
It’s no secret treating people well creates loyalty. Besides keeping tenants’ needs in mind, Summerfield also provides on-site staff with bonuses for going above and beyond. Staff bonuses are paid monthly, do not cost a lot, and are determined by the number of positive online reviews and rental income increases tied to lease renewal.
Is your property management company working this hard for you? When you’re ready for a better property management experience, call us.
Robert Parmar Headshot

Robert Parmar

Travis Gold Headshot

Travis Gold

Director of Marketing

tgold@smfield.com

206-844-9039

Danielle Daily

Business Development Manager

ddaily@smfield.com

703-972-5755

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Summerfield specializes in the management of apartment properties that are approximately 125 units or larger, and is licensed to manage in Washington, Oregon, Idaho, Florida, Georgia, & South Carolina.

If you would like to discuss additional specifics of our management program, please reach out to our Managing Director, Robert Parmar at rparmar@smfield.com or call 770-628-5943.

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