Happy Silicon Valley tenants

Happy San Jose tenants (source: flagship-pm.com)

Do you have rentals in San Jose with an expiring lease?  Are you concerned about the property staying vacant?  Well, finding new tenants is a costly and exhausting process.  In addition when your existing tenants move out of your San Jose rental, the units might need pair and other repairs which will also add to your cost of renting these units again.

So, your best option might be to provide a great incentive for your current tenants to renew their lease.  But the secret for retaining your San Jose tenants for long term can be summarized in 3 steps:

1) Fair Market Rents:  Despite the huge rise in the cost of renting in Silicon Valley, we firmly believe that you will be able to retain your San Jose tenants long term if you are charging fair market rents.    You can use websites like RentoMeter to conduct a quick rental survey to see if you are charging too much rent.

2) Responsiveness:  Developing good communication with your San Jose tenants will help your attempt to renew their lease.   That’s why you need to respond quickly to calls for repairs and maintenance.   For your San Jose multifamily units we recommend that you create an email distribution list to notify all the tenants about upcoming repairs.

3) Small Kitchen and Bathroom remodel:  If your San Jose rental units have old kitchen appliances or bathroom fixtures you need to replace them.  Small kitchen and bathroom remodel will improve the odds in your favor that your San Jose tenants will renew their lease.

4) Referral Program:  Previous tenants might be a good source of referral for better tenants.   So, you might want to offer  referral program if you have a large complex.  If your current tenants are well-mannered and responsible, chances are good that their friends will share these traits.

Contact Us if you have any questions about happy san Jose tenants.