Lease renewals can be a smooth process if you engage tenants with the right approach. Enhance your chances of long-term occupancy:
- Offer renewal incentives, like a slight rent discount or property upgrades, to reward loyalty.
- Maintain open communication, addressing concerns promptly to build trust and satisfaction.
- Conduct market research to ensure your lease terms remain competitive without undercutting your profit margin.
How do you encourage tenants to renew their leases? Share your strategies.
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