Profit Amplifier: How & Why To Optimise Tenant Satisfaction And Retention In HMOs
In this episode, we're diving headfirst into a topic that's on the minds of every HMO business owner: how to boost profits. Now, I know what you're thinking—I hear you loud and clear. Interest rates are climbing, inflation is soaring, and the costs of gas and electricity are through the roof. We're facing a cost of living crisis, and it feels like we're swimming against the tide.But here's the thing—I get it. We can't control those external factors. We can't magically make interest rates drop or inflation disappear. But what we can do is focus on what's within our power to shape: tenant satisfaction and tenant retention. These two factors are intertwined and can be game-changers for your business.I know there's more to profitability than just tenant satisfaction and retention, but let's zoom in on these areas today. I'm going to share five ideas with you. Some might sound familiar, but maybe you haven't given them enough attention lately. And hey, there might even be a couple of new ideas that you could use.So, get ready to take notes and I guarantee it, If you take them seriously and put them into action, you'll see the difference.-Please leave us a quick review on Apple Podcasts or Spotify if you find this episode useful.Got any questions? Ask us in The HMO Community Facebook Group or follow me on Instagram @andygraham.hmo for daily HMO tips and advice! If you want to join my 1-2-1 mentoring program, you can enquire here. New to HMOs? Join The HMO Roadmap - an exclusive community and online learning platform for HMO property investors. As a member, you’ll get access to online training, group coaching, a deal stacker tool, case studies, contract templates and more resources to help you start, scale, and systemise your HMO business.