Did you know the number one reason a landlord leaves an agency is due to poor communication? It seems such a simple thing, but rarely is it executed properly in property management, which is a shame given we are dealing with people’s biggest assets.
Communication and customer service go hand in hand, if you aren’t communicating with your landlord, you certainly aren’t providing good customer service either. A lot of property management companies deliver a lot of the same technology are governed by the same laws and regulations and are similar on fees, but the one area an agency can really stand out in the crowd is Customer Service.
Summit Estate Agents key to ensuring good communication and customer service:
Have a procedure for returning calls to clients – within 24 hours ideally
Have a procedure for the types of situations you need to communication with clients – all emergency repairs must be communicated, all rental breaches or everytime a tenant vacates
Have a policy to regularly reach out to clients for ‘Positive’ communication when nothing is actually wrong with the property. We you think about it the only time we really reach out to landlord’s is generally when something goes wrong. How nice would it be every week to call a few owners and advise “Everything is going great, I just wanted to touch base and tell you that!”.
In our technology driven era email is often the key form of communication, but picking up the phone is a more personalised means of communication and in the time you have written one email, you can probably speak to three landlord’s.
Giving owners online access to information regarding their property is a great way to ensure owners are in control on what is being communicated with them and they can access this information when it suits them, simply with the click of a button.
There are a lot of other reasons landlord’s aren’t happy including increased fees, constant staff turn-over and one off incidents that aren’t handled properly. Just like a baseball game, most landlords as a rule work on the three strikes you’re out rule. If a batter is off their game the pitcher strikes them out and a new batter steps onto the plate. There is a lot of competition in the property management now and there’s no need for landlord’s to put up with a bad property manager or company. Changing agents is actually very easy.
In TWO Simple steps you can change agents:
Research a new company that fits your needs ideally one local to the area your property is in, they fit what you are looking for and offer what your existing company doesn’t. Whether that’s better communication and customer service, cheaper fees or more knowledgeable team etc.
Send written advice to your current agency you are changing agents. If the property is vacant you can usually change immediately otherwise most agencies offer a 30 day handover.
Your new agency will send through relevant paperwork and take care of the rest, including notifying tenants of the impending change, arranging to pick up keys and paperwork in 30 days. Nothing else needs to be done on your end as a landlord.
Some common concerns Landlord’s have when changing agents:
The new agency won’t know the property/tenant history?
We will collect all the relevant documentation including Tenant’s application forms, General Tenancy Agreement, Entry Condition Reports, compliance certificates for smoke alarms and water, maintenance etc. We will also have a copy of the tenants full ledger, so we will be able to determine their rental history.
Will my rent still be paid on time?
Your rent from your old agency will be collected and paid up until the handover date. Rent will then be collected by your new agency and disbursed as per your instructions.
I don’t have time to change?
As we mentioned in two simple steps you can change agents, do your research on who you would like to manage your property. This can be done online if you are really busy, or if you are local pop in and have a chat with head of the property management department to determine if the people managing your investment are the right fit. Dont forget to ask how many properties your manager already manages.. you dont want get lost in the masses. Alternatively ask around word of mouth is usually spot on with Property Management. Once you’ve made your decision and send written notice to your current agency.
I like them, but the fees are higher?
Like anything you get what you pay for. Sometimes the cheapest isn’t necessarily the best and generally when a property management company is budget on price they are usually budget on other areas as well. Whether that’s communication and customer service, or an inexperienced staff member managing properties. Generally the more you pay in management fees the more work is being done to ensure a better return on your investment. A quality property manager will work hard to secure better tenants, achieve maximum rent and ensure you don’t need to stress about what is happening with your investments.
They are a well known big brand?
Sometimes this is not always the best thing. Its all to common for these big brands to go though staff with in months, then the next manager is employed straight from completing thier cerificate and thrown into the portfolio deep end. With your your property then at risk of having inspections missed, maintneance falling behind, and lease renewals with potential increase in rent opportunities missed. Sometimes you get lucky and get a great agent with loads of years experience. My advise here is to ask the head of department how many rentals they have and how many will be in the portfolio your property will join.
A successful modern property management business should be focused on communication and customer service, competitive on fees, but not necessarily the cheapest, utilise good technology and have an experienced team in place that undergo regular relevant industry training.
Email us for our comparitive agency check list which has all the questions you need to ask your potential new property manager.
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