Tenants who pay promptly, maintain adequately, and report appropriately are the lifeblood of a property management business. Relationships with these dependable tenants are typically well worth the effort, and lease renewal agreements are a great way to cement a longer-term relationship.
Property management businesses profit from lease renewals in a variety of ways including avoidance of turnover costs and unnecessary vacancies. But the process of promoting and finalizing lease renewals isn’t always efficient and straightforward. Also, very few tenants inquire about a lease renewal proactively, and once they’ve gone month-to-month, even predominantly satisfied tenants become more likely to search for a new place to call home.
Property managers can encourage tenant lease renewal in various ways, but the best thing they can do—aside from being a fair and responsive landlord—is to pop the question, “Are you interested in renewing your lease?”
zInspector’s Tenant Renewal Inspection empowers property managers to consistently ask this very question while simultaneously evaluating each respondent’s fitness as a long-term tenant in an easy-to-send and easy-to-fill in-app tenant-completed inspection template.
This efficient and effective way to generate renewal-related feedback is one thing: organizing it into an actionable data set makes all the difference. With zInspector’s Document Compare tool, in a few clicks you can compile all your Tenant Renewal Inspection responses into a handy spreadsheet sure to benefit any team member tasked with facilitating renewal signings, associated maintenance actions, and other renewal-related tasks.
Ready to try? This article lays out the simple but powerful process.
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