Seems straight forward and something that surely should be taken for granted? As a Letting Agent, dealing with Tenants and Landlords on a daily basis, I can assure you this isn’t the case. I still come across Landlords who feel like they are doing ‘Tenants a favour by renting their Property’. This is not the right mindset at all! Renting Property isn’t a Property Business it is a Hospitality Business. As Landlords we need to aim to deliver great customer service to our Tenants, provide them with great properties and remember at all times, the product we offer is someones Home. Ultimately, these actions will lead to longer term tenants and better returns on your Investments. Watch my video below:
1. Communication Method
Be clear from the on-set of Tenant moving-in, what is your preferred method of contact. Provide Tenant with a second form of contact incase you are not available. There is nothing worse for a Tenant when they cant get in touch with someone in case of Emergency. If you dont have a back-up person to manage your property, this is something you need to have in place ASAP, I would also recommend you keep a spare key for the property with this person. Be responsive to any queries, Tenants are Customers and Customers now expect responses in real time. It is also useful to build a brief guide, with main queries Tenants will have. For example, days bins go out, how to use the boiler, where the stop tap is, fusebox location etc.
2. Get stuff done, when promised
Always set clear expectations, when an issue will be resolved by. Ensure that items are done when promised. For example, if you arrange a contractor and he says the work is going to be done on Wednesday, I would follow up with contractor for confirmation work is done and touch base with Tenant to makesure they are happy with the works carried out, this doesnt cost anything but will make the Tenant feel valued and will lead to increased goodwill.
3. Periodically check-in with your Tenant
As a Landlord, you may only touch base with your Tenant when there is a problem and on these occasions (even though they may be in frequent) you may feel frustrated that you having to bother with it. However, when you haven’t heard from your Tenant in a while, doesn’t mean everything is OK (they may just not be anything urgent) and by simply messaging or calling your Tenant you may resolve any outstanding issues that maybe bothering the Tenant. Remember, the most common cause for Tenants moving on the Fylde Coast is maintenance issues! Keep your investment well maintained and retain your ‘customers’ for longer. Change of Tenancies is costly.
4. Use Apps
I highly recommend using technology wherever possible, to automate menial tasks, keep on track of items and being more organised and efficient. For a self-managing Landlord, you could really benefit from these three FREE apps.
Asana – task management software, scheduling periodic check-ins/inspections with your tenants, organising refurbs, maintenance jobs, scheduling reminders for compliance certificates etc.
Google Drive – great software thats accessible from your phone, PC and anywhere int he world. I would recommend using it for storing your Property/Tenancy related documents, such as Tenancy Agreements, ID, Compliance certificates etc.
WhatsApp – great method of communicating with Tenants and Contractors. In our Letting Agency we really push this form of communication, as communication preferences change (especially as shown by Meninialls), most Tenants would prefer to message instead of calling. I would recommend when new Tenants move-in to send them a message via WhatsApp so when they need to contact you they can save your details and you are certain they have your details.
I hope you found this useful, if you have any suggestions on this topic please let me know and I would be really interested to know which software you find useful in managing your Property Business.