The Status Quo. Property managers need to understand that every victory opens the doors for further opportunities. The implication of this is that a property manager cannot afford to rest on his laurels he has to continue planning and strategizing for more success. Read Property Management Technology
Keep a close eye on rental relationships. The property management and rentals industry has become so competitive that you’ll need to maintain a very cordial relationship with the tenants on your property. One poor experience is all it takes for a tenant to move out at the end of their lease to rent another property. Discuss with your long term tenants; ask about their concerns and opinion on the rental property, the owner/landlord, or even your management company.
Always ask for feedback at the different phases of their rental experience, whether it involves; paying rent, moving in, missing rent payment, signing the lease, staff interaction, moving out, eviction, or complaint resolution. And make sure you learn from the feedback. If either you or a member of your staff makes any mistake, use the feedback to ensure that the mistake is not repeated. If there’s need to organize further training for your staff, organize it. If you’ll need cutting-edge software to get things done, then you should invest in it. Doing all these will make you more efficient thereby guaranteeing tenant satisfaction. Tenant retention and satisfaction go hand-in-hand.
Maintain regular communication with tenants. Try as much as possible to keep your tenants informed about any activity that might impact their lives, whether it’s their rental property in particular or the community in general. Give the tenants adequate advance notice so they can make the necessary plans. Therefore, if you want to repave the parking lot, you don’t have to wait till the day scheduled for the job to ask the residents to find alternative parking for their vehicles. This is actually very important if you really want to be pro-active as a property manager and for excellent customer service.
Keep communication lines with investors & property owners open. If you have some extra time as a property manager the best thing to do is contact owners to discuss their investment. And I’m not talking about regular bulletins or annual reports, I’m talking about reaching out to them personally to validate your services to both the owner and the income property, even if things are running smoothly. You can send an email to them or call them if possible. Establish a cordial relationship with them and let them know about the status of the rental property while boosting their confidence in you and the services you offer.