As a manufactured home community owner, you want to create an environment that attracts and retains loyal, long-term tenants. This will not only be beneficial to the residents but help your business grow and be successful as well. Long-term tenants also tend to take better care of their homes and surroundings which can lead to less repairs and maintenance. Building a community that fosters loyalty takes time and effort, but in this blog, we provide strategies and tips for attracting long-term tenants.
Why Long-Term Tenants are Beneficial to Manufactured Home Communities
Long-term tenants provide your business with a steady stream of revenue and reduce the expenses associated with tenant turnover. Having long-term tenants also creates a true sense of community. The tenants will get to know you and your employees as well as their neighbors. This connection can help reduce conflict and increase resident engagement. The tenants who plan to live in the community long term are more likely to be loyal and committed to the community and help keep the property well-maintained.
Tips
Move-In Incentives for Homeowners – Potential tenants usually have a few options to choose from when searching for a place to call home. A good strategy for attracting long-term tenants is by offering discounts or perks when they sign a longer lease. This could be discounted rent or deposit, free or discounted storage space if available, or a discount on utilities.
Lease to Own Homes – There are a lot of renters out there who would eventually like to own their own home. If you have community-owned homes on the property, starting a lease-to-own program is a great way to attract people who are looking for a long-term residency.
Have a Good Set of Park Rules and Consistently Enforce Them – Everyone wants to live in a safe, clean community. Having a set of consistent rules will help keep the residents safe, protect your business, and attract good tenants.
Offer Amenities – When choosing a place to live, people often go with the place that has the most benefits for them. Having a pool and playground are great ways to attract families with kids. Having security features like a remote gate and cameras can help potential residents feel safer in your community.
Community Maintenance – Making sure that your park amenities are well maintained and free from damage is a great way to attract and keep long-term residents. This will help reduce injuries due to equipment or property damage and also make a great first impression when people tour the community.
Having long-term residents is the key to many manufactured home communities’ success. High long-term residency helps reduce the cost associated with tenant turnover and creates a welcoming and stable environment. Learn more about tips for running your manufactured home community in our blog or on our articles and information page.