Southwestern Management And Realty Team
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Best Ways to Improve Tenant Retention in Single Family Rental Homes

July 12, 2018

At SMART, we know that the single-family rental market thrives more on renewals than on lease trade-outs. After all, there are costs associated with turnovers and finding a new tenant. 

Here are some strategic moves we like to use to keep tenant retention strong, and vacancies minimal.

Offer Incentives

People love perks, so why not offer tenants something special to celebrate a lease renewal? You can offer gift cards….or, perhaps, gift an upgrade to the property. Flooring improvements will also benefit the home’s value! A one-time cleaning, lawn services, fresh wall paint, and new appliances are also the new incentive that make tenants excited to stay on. They also enhance the rental!

For a more personal touch, align incentives with tenant interests. Do your renters have children? Amusement park season passes or movie theater gift cards can be welcomed gifts that help tenants feel appreciated.

Ongoing incentives can be a proactive and equally influential tool. Partner with a variety of nearby businesses to offer regular and significant discounts.

Create a Sense of Community

Yes, even single-family rental homes can foster a sense of community. Developing a strong relationship between tenants and their property management company has the power to make the renewal process quick and effortless.

SMART goes the extra mile to help renters feel at home — and we know that begins and ends with an engagement. Communicate information efficiently and through a tenant’s preferred channels. When a tenant initiates a dialogue, our staff responds in a timely manner to help them feel heard. Quick and meaningful responses are an easy way to build trust.

Having trouble keeping your rentals full? We have the tools and know-how to create an outstanding living experience in Las Vegas — and help you retain more tenants.

Contact us today to find out how we can help you.

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SMART Rental Qualifications

The following are Southwestern Management And Realty Team’s (SMART) guidelines for renting a property through SMART. Each and every application will be reviewed by a member of SMART and could be adjusted depending on credit/income and the application itself. Please be truthful!

Rental Qualifications

  • Applicant MUST be 18 years or older and application fee is $65.00 per person and is non-refundable.

Credit

  • Minimum score of 650
  • No EVICTIONS in the past 5 years
  • No utility collections (gas, power, water)

Income Verification

  • Income MUST be 3 times the monthly rent for good credit 650+ and 4 times if applicant has poor credit but good income.
  • MUST be verifiable
  • MUST be with current employer for at least 6 months.
    **If self-employed—CPA financial statements and/or tax returns are acceptable.

Employment History

(you could be required to show proof if requested, paycheck stubs, etc.)

  • Verifiable employment history for the past 3 years
    **If self-employed/retired/not employed—can verify income with signed tax returns and/or bank statements.

Rental History Verification

  • Verify for the past 3 years
  • Must provide: Landlord Names, and phone number, email (if available) on the online application.

Criminal Background Check

SMART does check—Criminal, Sex Offender and Terrorist database

  • NO sex offenders
  • NO crimes—violent crimes, prostitution, domestic violence, possession of weapons or illegal drugs

Pets

MUST be 30 pounds & under & absolutely no violent breeds—ask SMART for the Pet Policy

  • 2 pets max
  • NO ferrets or snakes
  • NO Dangerous, poisonous or illegal pets
  • NO aquariums larger than 10 gallons

Emotional Support pets are NOT considered a Service Animal and not under ADA laws.

SERVICE ANIMALS ARE OF COURSE ACCEPTED AND WILL REQUIRE THE PROPER GOVERNMENT ISSUED DOCUMENTATION.

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