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FMX Blog

 

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Did You Know Happy Tenants Can Save You Some Green?

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One of the most common complaints by tenants is a property manager’s inability to resolve maintenance requests. If you can fix this problem, imagine how many happy tenants you could have. Keep reading to discover why happy tenants are important for your properties and how to make them happy.

Did you know 54% of apartments turn over each year? And many property managers don’t even know their turnover rate.

Or that the likelihood of lease renewal is 3 times as high when tenants are satisfied with management?

Furthermore, it takes 2 years to regain lost income if a single tenant leaves a property.

Let’s do some math: when you break down the cost of a vacant apartment during tenant turnover you get this: It’s costing you $1,750 per month for every unhappy occupant that leaves your properties!

Just think of all the $$$ you would save if your tenants were happy and renewed their lease.

So, how do you make your tenants happy?

Implement a CMMS for your properties! Why? Communication between tenants and maintenance is key to resolving work order requests and a CMMS can foster that communication in three steps.

  1. Tenants easily submit work order requests
  2. Property managers and their staff can respond to and resolve requests
  3. Tenants stay in the loop via two-way communication = happy tenants!

Fun fact: On average, FMX customers reduce work order response time from 3-5 days to less than a day.

Happier tenants = $1,750 in your pocket every time a lease is up for renewal!

“If you want a simple software for your tenants to use, this software is for you. I looked at several different types of software and they all did really great things, but were difficult to use. When dealing with tenants we need to keep things simple.”

Keep things simple and stop losing money. Manage your properties with FMX today!

FMX enables Facilities Managers to more efficiently and effectively track work orders, schedule resources, and plan maintenance. Our cloud-based Computerized Maintenance Management System features a calendar view simple enough for anyone to use to submit, track, and manage their requests, events, and assets.