Resources for Landlords and Real Estate Investors

Top 5 Ways to Retain Tenants in 2025

A new year is just around the corner. And in 2025, some of your renters’ leases will expire. Will they all renew, or will some move on to greener pastures? Since vacancies come with inconveniences and income loss, tenant retention becomes a priority. So, how do you get people to choose your property instead of the competition?    

Reduce Rent (temporarily) 

Before offering this coveted perk, check your books to see how generous you can afford to be. You may want to offer reduced rent during the renter’s renewal month and for a month or two afterward. You could also offer reduced rent to new renters who sign a new lease during a special promotion period. Even though the discount will be temporary, nothing attracts people more than a good sale—whether the commodity is food, clothing, or housing.  

Package the Benefits

Whether you’re marketing to new renters or trying to retain current ones, additional perks and benefits will undoubtedly draw attention. While standard rental fees typically include the cost of wear and tear, property maintenance, and cleaning, charging a slightly higher rate could open the door to offering additional benefits. You could include perks like these in each new lease to attract and retain tenants:

    • Renter’s insurance 
    • Utility concierge (easy activation of all needed utilities) 
    • A property rewards system (for on-time rent, complying with policies, etc.) 

Create a Property Culture

Get to know some neighbors around your rental property and introduce new tenants. A tenant with no on-site personal connections will find it easy to move on when they see another attractive rental deal. But when they’re part of a greater community, leaving friends behind will make a move less tenable.   

Use Technology

Apart from favoring smart appliances, renters look for other up-and-coming innovations in a property. Offer new and renewing renters’ options like smart locks and smart thermostats to simplify their daily lives. And while they’re away at work, they’d rest more easily knowing that drivers will stow their deliveries in a storage box with a coded lock.    

Stay in Contact 

From the start, maintain open communication channels with new renters. That way, you’ll have an established relationship with them long before it’s time to renew. Ensure they are current on current property rules and safety protocols. Seek feedback and make reasonable concessions so you can maintain a positive atmosphere. And since more people are working from home, inform renters of repairs or ongoing maintenance projects well in advance so they can plan accordingly.  

These retention suggestions can empower you for 2025 lease renewals. Most tenants appreciate the personal touch, innovation, and good communication. So, with any luck, your New Year’s resolution to retain all your tenants in 2025 is in the bag.  

About Rentals America     

Rentals Americaprovides full-service property management for residential rental properties. Our team is completely dedicated to property management, and we’re here to help landlords navigate the rental market.