Communication is a critical aspect of property management. Focusing on communication will allow you to foster professional relationships and manage your property properly. Below, we look at a few ways to improve communication between property owners, tenants, and property managers. We also share one of the best ways to maintain communication in any rental business.
Why communication between landlords, tenants, and property managers is important
It’s a common misconception that running a rental property merely entails collecting rent each month, and that landlords don’t need to interact with their tenants. Another myth is that property owners who partner with a luxury management company don’t have to check in with them at all. The truth is that you have to communicate with every party to see your rental succeed. Here’s why communication is so critical:
#1 It reminds tenants of their obligations
Even if you walk your tenants through the terms of their lease agreement at the start of their tenancy, there’s still a chance they’ll forget everything you said. If you’re concerned that your tenant hasn’t understood the rules, you have to communicate that to your tenant. For example, tenants who haven’t been paying their rent on time can be reminded via e-mail or sent a copy of their rental contract. Furthermore, offering open communication encourages tenants to raise concerns so they can clarify any confusion.
#2 It maintains management standards
Working with a full-service property management company means you can be completely hands-off because your manager will deal with it all. However, that doesn’t mean you shouldn’t communicate with your company from time to time. Communicating with your property management company is the only way to guarantee that they manage your property according to your standards. If you fail to communicate with your manager, you won’t be on same page – this means they’ll blindly manage your property and you may not be able to meet your goals.
#3 It keeps tenants up-to-date
If there’s one thing that tenants don’t like, it’s being kept in the dark about things that matter to them. For example, imagine how your tenants would feel if they submitted a repair request but didn’t get a response from you or your luxury property management agent. They’d probably wonder whether or not you got their message, and be upset that you didn’t bother to reply. As the property owner, you owe it to your tenants to keep them up-to-date. Remember, your tenants aren’t only paying for your rental – they’re also paying for your time. That said, take the time to communicate with your tenants, especially when the matter concerns them.
How can you improve communication?
Now that you know why communication plays an important role in your rental’s day-to-day operations, let’s take a look at how you can improve on it:
#1 Respond immediately
Tenants don’t expect you to deal with their concerns ASAP (except for certain concerns such as HVAC issues). However, they do want you to assure them that you’re on it. You must reply to your tenants immediately – even a simple message saying “this is acknowledged” is good enough. That way, they won’t feel that they’re being ignored by you or your property manager.
#2 Adopt multiple modes of communication
Not all tenants are comfortable with certain modes of communication. Some tenants prefer formal communication via email, while others would rather have their landlord call them. It’s important to provide various modes of communication so your tenants can choose the one that’s most convenient for them. By tailoring your communication method to your tenants’, you’ll be able to increase tenant retention.
#3 Be professional
It can be tempting to send a tenant an angry email, but remember that everything you do and say will have an impact on your reputation. If professionalism isn’t your strong suit, you may want to partner with a property management company.
#4 Identify what’s worth communicating
Communicating with tenants, property managers, and more should be transparent, but not too transparent. Not all parties need to be aware of what’s going on with other parties. For instance, if your tenant asks why you haven’t repaired their roof yet, you shouldn’t tell them that the vendor is at fault. Instead, say you’re sorry and that you’re on it.
Furthermore, you should communicate only crucial information. Your tenants might be annoyed if you update them too often.
The best way to maintain communication: use communication tools
Communication tools help every party involved in the day-to-day operations of a rental property stay connected, including the tenant, landlord, and property management company. From the property management company’s point of view, communication tools such as AppFolio are a way to get more things done. Through these tools, they can streamline their procedures and focus on catering to their client’s needs. For instance, instead of answering calls for repair requests one by one (which can be a time-waster), they can count on the communication tool to receive requests for them.
For the tenant, communication tools are a great way to manage their interactions with their property management company and owner. Not only can they conveniently request repairs, but they can also closely monitor whether or not their requests have been received. Communication tools also allow them to communicate directly with their landlord or property management company in case of an emergency. What’s more, maintaining an open line of communication encourages tenants to inform their property managers if they feel that something is amiss, saving the owner from costly repairs.
From the rental property owner’s perspective, communication tools allow them to contact all tenants at once, making them particularly useful for multi-property owners. For example, landlords can use communication tools to help their tenants prepare for a flood. What’s more, property management software is a way for landlords to always stay up-to-date with what their managers are up to. Additionally, it’s a way to record every exchange with tenants – that way, they can never claim that they didn’t get the message.
It’s worth mentioning that many rental property owners don’t want to be 100% involved with their rental operations. Communication tools allow them to update themselves in their own free time without having to be disturbed by constant calls from their company.
At Luxury Property Care, we value communication
When you work with Luxury Property Care’s real estate experts, you can rest assured that you and your tenants will be kept informed about all matters. Not only do we leverage cutting-edge property management software, but we’re also trained in customer relations and tenant management. As your partners in property management, we’ll ensure that you’re kept up-to-date with all happenings on your property and that your tenants receive 24/7 attention from our team.