How a Homeowners Association Can Reduce Summer Turnover
Summertime in Florida brings a lot of challenges to residential communities, including blazing heat, pesky bugs, and the constant threat of tropical storms and hurricanes. Another persistent challenge that’s unrelated to the environment is the increased turnover rate of tenants in the summer. If your homeowners association requires rental management services, you should expect more residents to be making moves in the summertime.
In this brief article, Wise Property Management, a Tampa homeowners association management company, will discuss why tenants are more prone to move during the summer and how you can effectively reduce this turnover. Remember, if your property requires reliable rental management services, Wise Property Management can screen applicants, create lease contract agreements, process payments, and perform inspections of the units at your property.
Why Is Summer the Time to Move?
There are a lot of reasons why tenant’s leasing agreements expire during the summer. The Tampa Bay area has a dozen or more higher learning institutions that educate thousands of students annually in Tampa, St. Petersburg, and Clearwater. When one semester ends, students will move home or into a new spot closer to campus.
Another reason why summer is a common time for tenants to move is that people typically have more free time to take on the challenges of a move. Whether the timing is right, they’re relocating for school or a new job, they’re moving in with a significant other, or another reason altogether, these types of moves are a natural part of the rental cycle that properties experience. The key is to retain outstanding tenants who would prefer not to move to a competing property if they can avoid it. This is where one of the best Tampa HOA management companies can be of assistance.
Keeping Tenants Happy
There are a lot of ways that HOAs can effectively keep their tenants happy. Here are some of the services Wise Property Management provides to reduce turnover during the summer.
- Communication is Key: Keeping tenants happy in your community begins with excellent communication year round. As moving is a hassle, tenants are more prone to stay at a property as long as the rental management services are proactively serving their clientele and providing them with quick solutions to their living needs.
- Excellent Upkeep: During the summer months, tenants will spend more time roaming the property, visiting the pool, and enjoying outdoor activities. A well kept property will not only attract renters and homeowners, but also retain them as they enjoy the amenities the property has to offer.
- Timely Renewals: An experienced HOA management company knows to reach out to tenants several months before their lease expires. Even if the tenant is definitely leaving, it’s still a good thing to contact them to learn about what they liked and disliked about their renting experience.
- Repairs and Renovations: Unfortunately, despite excellent service, sometimes a tenant will leave. This can be a great time to make necessary repairs to the unit. A knowledgeable property management group will know when to coordinate and address these issues to enhance the value of a property.
Are you ready to work with a Tampa homeowners association management company that makes life easier for you and your board members and improves the value of your property? If so, submit our proposal request form today!