Property Management
A Mississippi property manager wants to reduce tenant turnover in a residential complex. Effective tenant retention strategies include:
ARaising rents significantly each year to maximize income
BResponsive maintenance, proactive communication, lease renewal incentives, and addressing tenant concerns promptly before they decide to move✓ Correct
CRequiring all tenants to sign 5-year leases
DIgnoring minor maintenance requests to train tenants to handle small issues themselves
Explanation
Tenant retention reduces vacancy costs (lost rent, marketing, turnover preparation). Key strategies: responsive maintenance (fastest way to lose tenants is to ignore repair requests), proactive communication, fair and competitive renewal terms, lease renewal incentives (small improvements, rent stability), and building a community atmosphere.
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