250: How To Raise Rents And Retain Your Tenants, Dayton

How To Raise Rents And Retain Your Tenants, Dayton

by Keith Weinhold | Get Rich Education

Tenant retention begins before move-in: 

  • Use a move-in checklist with the tenant.
  • Move-in gift and packet.
  • Communication.

Ongoing tenant retention during occupancy:

  • Inspections every six months.
  • Be attentive with service calls.

How to achieve a rent increase:

  • 45 days’ notice.
  • Use phone.
  • Substantive reason: increase in property tax or maintenance costs. 
  • Remind tenant of moving costs.
  • Offer an upgrade – carpet cleaning, ceiling fan, etc.
  • 2 – 5% annual increase typical.

We discuss why not every tenant is worth retaining. 

Dayton, OH has 1% rent-to-price ratios and an MSA population of 800,000. Also:

  • Proximous to Cincinnati and Columbus. 
  • Health care.
  • Military.
  • Manufacturing.
  • 3 Amazon fulfillment centers within 45 minutes.

Learn more about the Dayton turnkey provider here

  • In-house property management.
  • Use luxury vinyl plank, white kitchen cabinets, newer HVAC & water heaters.
  • 1-year and 3-year warranties.
  • 97% occupancy rate.
  • Leases up to 18 months.
  • 3/1 SFHs: Rents $750 – $1,300 | Purchase prices $75K – $120K. Detached garage. 800 – 2,000 sf. Usable basement is additional sf.
  • Property tax 1.8 – 2.1% annually as a percent of property value.
  • Rent promise: Provider starts paying rent to you if your property is vacant 30+ days.

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Resources Mentioned >

Resources Mentioned: Dayton Turnkey Property: GetRichEducation.com/Dayton | Mortgage Loans: RidgeLendingGroup.com | Turnkey Real Estate: NoradaRealEstate.com | QRP: TotalControlFinancial.com | JWB New Construction Turnkey: NewConstructionTurnkey.com | Our Tampa Real Estate Field Trip: RealEstateFieldTrip.com | Best Financial Education: GetRichEducation.com | Find Properties: GREturnkey.com

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