2024 Property Management Insights with Noel from HomeQwik!

As we navigate the challenges of inflation and rising costs, tenant retention becomes paramount. With rents soaring and affordability becoming a concern, retaining tenants is key.

My advice? When it's time to renew leases, prioritize tenant retention over incremental rent increases. Losing a tenant means losing valuable income and enduring downtime while finding new tenants. In a shifting market, where days on the market have increased, maintaining good tenants is more crucial than ever. Consider investing in property upgrades to enhance tenant satisfaction and prolong their stay.

Remember, a stable tenant is worth more than a marginal increase in rent. Let's keep our tenants happy and properties thriving in 2024!

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