The Key to Success Lies within Tenant Relationships

The Key to Success Lies within Tenant Relationships

It is a well-known fact that homeowners with multiple properties usually enlist property management companies to act as a liaison between them and potential tenants.

There are an infinite number of companies in the market to choose from, so how can you, as a property management company, stand out?

In order to attract more business, it is essential to communicate your values and principles with homeowners. As a property management company, you should have clear processes in place to ensure smooth rental processes.

The most important of these processes is that of your relationship with potential tenants. It should at the forefront of your mission and vision statement. Why? So potential clients know you have everyone’s best interests at heart and are genuinely trying to cultivate connections and relationships.

There are several steps that you as a property manager can take to show homeowners you are adept and experienced at building a rapport with tenants and they are as follows:

1. Clear communication
Tenants need to feel heard, especially if they are having issues with certain aspects of the property. At the same time, homeowners need to be kept in the loop regarding any changes being made by tenants. As a property manager, you need to show both parties that you are always available to help resolve problems and cater to needs.

2. Regular feedback
Let the homeowner know that you check in and follow up with tenants on a regular basis. If you have a system in place where you receive regular feedback from tenants, potential problems can be easily avoided before they even arise. It also shows that you are proactive and genuinely care about what the tenants think.

3. Welcome packages
A relatively new and innovative way to start off on the right foot is the welcome package. If you provide these to tenants who are moving in, you’re on the right track. If not, what are you waiting for? It’s the perfect way to welcome your tenants into their new home and will surely impress any homeowner looking to have you manage their property.

4. Service mindset
Communicate to the homeowner that you have a service mindset. While you may be managing a physical property, you are providing both the landlord and tenant with a service. Ensure that this service is impeccable, taking into consideration the needs of all parties involved.

5. Balance
As a property manager, you are the middleman between the tenant and landlord, and you must maintain a balance and ensure that no party is favored over the other. If you show landlords that you are just and fair, they will not only admire your ethic but also respect you for it.

These are some of the methods we have implemented over the years as property managers, and they have proven to be extremely beneficial in our journey. We hope others can benefit from them too.