4 Tips to Become the Best Property Management Company in the Industry
Why should a resident or property owner choose you as the best property management company to work with? For your business to be successful, you need to work on implementing these critical tips.
Tip #1: Communication is Key
As a property manager, having positive and consistent contact with your residents, internal techs, vendors, and property owners is critical. Streamlining your communication in your daily operations will ensure efficiency. Without it, your key players are in the dark — leaving work requests unscheduled.
Hang up the phone and develop an organized system by implementing a web-based platform so it’s easy to communicate with your key players.
Find a system that has the ability to communicate with pictures and text inside a work order so conversations aren’t restricted. Plus, easy access to digital records will protect you from disputes and support your decision-making process.
Tip #2: Meet Your Residents and Owners Where They Are At
Times are changing and your customer is too. Stay one step ahead of your competitors and embrace the ever-evolving industry.
According to the Real Estate Investment Report, 55% of millennials have an interest in investing in real estate. This generation is leading the changes in our industry.
Millennials seek instant gratification and care about speed and convenience.* What you did 5 years ago won’t work today. How can you get better results through new tools or technology? Be open to change and accept that your traditional process can be better.
Tip #3: Market Yourself with Good Reviews
Bad reviews are worse than no reviews at all. With heads down and on the web, your property management company should be where your customers are looking. But if you are showing up, do your reviews accurately reflect your level of customer service?
Your online reputation matters. In fact, only 7 positive reviews are written for every 11 negative reviews.
Online reviews are currency — 78% of prospective residents said reviews are the number one factor when choosing where to live. You can fix this by having a simple maintenance process and ensuring your residents stay satisfied.
Tip #4: Stay Ahead of Maintenance with Automation
Technology is here to stay. According to PEW research, experts predict the “new normal” will be tech-driven by 2025. More and more people are adopting the use of tech to work, learn, and communicate. When you implement property maintenance software, you will simplify communication, increase resident satisfaction, and review real-time progress and documentation.
Automating your maintenance process can allow you to be more proactive with repairs, without lifting a finger.
You’re losing money if you’ve been relying on reactive maintenance, and only addressing repairs after they fail. Implementing automated workflows that trigger regular inspections on equipment before they break down will help you and your owners avoid profit loss.
Have redundant tasks that don’t need your direct attention? Automate responses such as letting your resident know you received their maintenance request. Send
Using property maintenance software can help you save time and money. If you’re ready to explore the smarter way to coordinate maintenance, we are prepared to help you become the best property management company in the industry. Let’s do this!
**Source = Journalism.org
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