Landlords offer rental units to tenants in hopes of making a profit. Tenants fit into the equation because they hope to find a suitable home with fewer interruptions from landlords. But where do property managers fit in?
Property managers are the middlemen between landlords and tenants. Property managers streamline communication between landlords and tenants and help avoid vacant rental units. From looking for suitable tenants to drawing up a lease and collecting rent on time, both landlords and tenants have a lot to gain in terms of customer service.
Nowadays, Renters Expect More
A majority of tenants are determined to find a new home if their previous landlord or property management team can’t provide optimal customer services. Speaking of which, research suggests that 70% of all consumers are willing to pay more if they find better customer services elsewhere.
You see, it isn’t easy to soothe disgruntled renters, and negative reviews can really harm your rental property business. This is why property managers are trained to monitor tenants, examine their behavior, listen to their problems, and make decisions accordingly.
How to Improve Customer Experience in Rental Properties
Monitor Tenant Relationships
It takes only one poor tenant experience to leave them dissatisfied with your rental property and want to move to another. This is why it is your responsibility as a landlord to ensure your property management team ensures customer satisfaction is at the forefront of their services.
With property managers handling communication, the only thing landlords will have to do is make sure that communication is carried out clearly, whether verbally or in writing.
Listen to Your Tenants’ Concerns
Tenants should be made aware that their problems will be heard no matter what. Of course, you have to go a lot further than just listening. As a landlord, you should take every concern or question seriously and provide adequate solutions.
The best property managers in the business will listen to your tenants’ concerns and always assure them that they understand their concerns. In doing so, your tenants will be assured that property managers empathize with their problems and will ultimately offer a solution.
Prioritize Problems
It is also the property managers’ responsibility to ensure that your tenants’ problems aren’t overlooked. Every business that shows their customers that they aren’t afraid of hearing complaints and are willing to solve their problems is most likely to be popular.
With that said, if a property manager or a landlord responds quickly to their tenants’ problems, they will be able to add value to their business. If you are a landlord and are considering hiring a property manager for your business, make sure that they prioritize tenant problems and face them head-on.
Even if solutions aren’t readily available, the best managers will assure tenants that their problems are being taken care of and why it is taking so much time to address their concerns.
Experience Renter Satisfaction
It isn’t easy for landlords to handle customer satisfaction while they’re busy juggling their packed schedules with personal affairs. Consider hiring a property manager to streamline all aspects of tenant management for you.
The best part about hiring property managers is that landlords get to ask their long-term tenants whether they are satisfied with their property managers. They can ask them whether their maintenance requests were handled on time or whether they are satisfied with their new home.
Since property managers are doing most of the work for you, you can use the spare time to keep customer satisfaction high and vacancies low.
Get in touch with New England PM if you need to know anything about real estate and investing in an income property.
