The Power of Valued, Long-Term Tenancies: A Smarter Strategy for Property Owners
While securing a great tenant is an achievement in itself, retaining and supporting that tenant over many years delivers exponential benefits not only for the renter, but for the property owner and the entire management portfolio.
A well-supported, long-term tenant provides unmatched consistency. They care for the property as if it were their own, report maintenance issues promptly, and maintain reliable payment histories. This reduces vacancy periods, minimises wear and tear from turnover, and decreases the administrative and marketing costs associated with re-letting.
The Value of Re-Homing Tenants Within the Portfolio
One often overlooked opportunity is re-homing strong, long-term tenants within the agency’s own portfolio when circumstances change. Whether they need more space, a different location, or a property that better suits their evolving lifestyle, keeping these tenants within the agency ecosystem delivers powerful benefits for everyone involved!
- Owners gain: A new high-quality tenant with a proven track record.
- The agency gains: Reduced vacancy time and a stronger, more stable tenant base.
- Tenants gain: A smooth, stress-free move and the reassurance that they remain in a familiar, trusted management environment.
This approach provides owners with the ability to secure a trusted long-term Celsius client as their tenant, whilst elevating service levels for tenants – an absolute win-win.
We have included below some memorable examples from the last couple of years:
- We had a great long-term tenant for 8 years at an apartment in Albany Highway. When the time came to upgrade from a 1×1 when his family came to join from overseas this year, we were able to move our valued tenant to another 3×2 just 1.4km away!
- We had a lovely couple rent 3 different apartments with us in East Vic Park on Albany Highway. First, they rented for 3 years before their first owner sold the apartment. At the second apartment, they stayed for 1.5 years until the owner needed to move back in. And now, we have just settled them into the third apartment with Celsius, only 100m up the road from the one they moved out of!
- One of our longest standing renters lived at an apartment in Mount Lawley and after 13 years the owner of the apartment needed to have his son move in, so our lovely tenant was forced to look for an alternative spot to rent. It was with much delight that we were able to move our tenant to an apartment in the complex next door and keep him with Celsius.
- After a 3-year tenancy, our wonderful tenant at a property in Gosnells needed to move out due to the owner selling. We did the best we could to support him with a transition into a new property with Celsius, and now he has been another long-term tenant for 2 years in his new place and the new owners are delighted to have such an amazing tenant!
Building Loyalty That Lasts Beyond the Lease
When tenants feel genuinely valued, relationships grow deeper and more productive. These renters become advocates, recommending the agency to friends, colleagues, and family members. It is not uncommon for long-term tenants to eventually transition into property ownership, and when they do, they often choose the same agency they’ve come to trust to manage their own investments. This natural lifecycle from renter to referrer to landlord creates a sustainable pipeline of future clients.
At its core, valuing long-term tenants is not just about good customer service; it’s a strategic investment in the health of the entire portfolio. By supporting, retaining, and seamlessly re-homing quality renters, Property Management Agencies build strong communities, enhance owner returns, and create a thriving network of loyal clients.