There are people in Philadelphia who would rather rent a property than purchase a home. The most savvy Philadelphia property managers, and landlords, are those who find a way to understand why certain people will rather sign a lease than own a property. Convenience, affordability and flexibility are some of the reasons why Philadelphians who’re not ready to buy, chose to rent.
Here are three ways through which a Philadelphia property manager can stand out and provide the best service to prospective tenants Also read: The Key To Select The Right Property Management Company
1: Be flexible with rentals
The value of an ironclad lease cannot be overemphasized. However, you can also include buyout options for any tenant that experiences life-changing events, like death, job transfer, birth, or a medical emergency that necessitates early termination. Sudden departures like these can give long-term renters the opportunity to downsize or upsize within the same community. Community managers can maximize this property management software, using it to monitor pricing. When there’s an early exit, it might mean it is time to adjust your rental to fit in with the current market. You need to show prospective renters that you’re dedicated to meeting their needs. There are lots of strategies that you can employ to show the tenant how flexible you are, and how he/she is your number one concern. Also read: 11 Strategies to Increase Tenant Retention for Higher ROI
2: Redefine Convenience.
You can make things more convenient for your tenants by availing them the opportunity to use features like electronic deposits, 24/7 virtual tours and online applications. As soon as a prospect signs the lease agreement, you’ll need to provide a functioning portal for maintenance requests and rental payments. Though some people might prefer to make their reports in person, which means, you can meet the expectations of such customers by introducing after-hour customer care professionals who are trained to take those calls and do the needed.
You must ensure that your vacant property marketing efforts are targeted at making it easier for people to access the rental services you have to offer. Your reputation as a property management company, or as a landlord, should be beyond reproach if you really want to stay ahead of the Philadelphia rental marketplace.
So, take a look at your present rental business model, is it designed to offer convenience or are you only focused on how to make more profits?
- Does having an online presence simplify the rental process of interaction with your tenants?
- Do you have a marketing strategy that attracts people to your site through SEO content? Are your social media posts engaging enough?
- Do you know how people feel about you online?
3: Take a second look at the affordability equation.
Most Philadelphia tenants want a stress-free lifestyle for the right price; they want a lifestyle where they don’t have to bother about paying for HVAC service or early morning plumber call outs. This means, Philadelphia property manager and landlords must find a way to reduce the overhead, so the rent tiers can remain competitive. The best way to achieve this is by means of automation. Use text alerts, electronic messages, and digital newsletters to keep renters in the loop, you can also employ mobile inspections and online leasing strategies to keep your property customer-centric.
Some people set trends, while others follow. Be the leader that sets the pace for others to follow, stand out and be the property manager who puts the needs of his renters first.