The challenge of a property manager’s job is keeping two very different types of clients happy; tenants and landlords.
The satisfaction of both are equally important to ensure you maintain a strong reputation, have steady business growth and you are not tearing your hair out in frustration.
When it comes to landlords, accuracy/attention to detail and responsiveness are key to a smooth relationship. Here are our tips for delivering on these two essential services:
Keep accurate files
Having everything up to date and easy to access means you’ll spend less time searching through records to answer enquiries.
This includes inspection reports, photos of the property, tenant information and contracts. If possible, gather information electronically or scan it and store it in the cloud so you can access what you need from any device.
Keep your landlords informed
Fire safety inspections, local area upgrades, changes to tenancy laws... it really helps if you can keep your landlords up to date with a regular newsletter or email report. Being hit with an unexpected cost is never pleasant so if you share a heads-up ahead of time your clients will be appreciative.
As you know all too well, the list of landlord responsibilities to tenants is extensive and ever-changing. This is why property managers are so important. However, it is helpful to let your landlord know what’s required when it comes to keeping the property in good condition and providing secure premises etc. Again, this will save them from a surprise when they get a request for a repair or upgrade.
Return phone calls
Building your portfolio with as many properties as possible will make you more money in the short term. However, if you have so many clients you can’t respond to them when they need help you, you’ll find yourself overwhelmed and unable to provide quality service.
If you’re swamped by calls, you may want to consider hiring an assistant to deal with the quick questions and small issues. This way your clients will at least feel as though they are having their concerns handled in a timely way. You can have someone work for you part-time or remotely to save on costs.
Fix it - quick!
A reliable tradesperson is the property manager’s best friend. You should have a list of plumbers, electricians, carpenters and delivery services on call to help deal with urgent issues.
Your clients are relying on you to reduce tenant turnover and maintain the value of their property, plus your life will be a lot easier if you’re not scouring the Yellow Pages at 11 pm to find an emergency plumber.
Speaking of retaining value, many landlords fail to realise they need to set aside money for regular maintenance.
If you communicate a regular schedule ahead of time which includes an idea of the expenses involved, your landlord clients will be able to budget accordingly.
Booking and planning these maintenance jobs ahead of time will help you stay on tops of things, minimise last-minute requests and will give tenants fewer things to complain about!
Be a friend
Often, the most successful property managers are the ones who manage to make every client feel like family. This doesn’t mean being taken advantage of but taking those extra moments to see how someone is doing and provide a higher level of genuine customer care.
Small gestures like dropping keys off in person, sending a birthday hello (this can be automated) or offering a referral bonus will help your client-base grow organically.
A final tip: it’s not possible to keep everybody happy! The old adage ‘20 percent of your clients take up 80 percent of your time’ rings true. Don’t be afraid to politely let your trouble clients go and open the door for two lovely ones to take their place.
BDH Solutions have been buying and selling rent rolls for over 30 years. Keep up with our latest listings here.