Monday, December 7, 2009

Are you a Property Manager? Here are 10 Tips!

The property management business is an important one for so many people who rely on our services--property owners, tenants and the communities we serve. While we certainly want property owners in our areas of Boone, Myrle Beach, Charlotte, Fort Mill and Concord to work with Kuester, we know that the rest of the country certainly is in need of the best from their property managers as well, so we have put together a few tips to help the new or struggling property manager.

1. Make a good first impression. Dress professionally and make a great first impression. How the you look and behave during the first meeting will set the tone for your relationship with the tenant--and then, of course, continue to treat your tenants with the utmost respect and professionalism, even in times of stress. The effort will go a long way.

2. Consider allowing pets. Many property management companies will no longer allow pets, so being pet-friendly will give you a competetive advantage. But remember to set and enforce a pet-policy, so that any damage is anticipated, paid for by the tenant and repaired in a timely manner.

3. Be organized and follow strict procedures. A disorganized or unprofessional project manager appears as if they don't care. Make sure your presentation packets, checklists and paperwork is in order before you meet with tenants.

4. Keep the property well-maintained. Even if it's outdated in areas, a clean property can overcome many objections. Wash the windows, manicure the some pride of ownership.

5. Be generous for great tenants. Offer special discounts for tenants who sign a multi-year lease, or set up auto-pay through their paychecks or banks.

6. Follow a regular schedule. Let them know that you will be accessing the property every other month for a maintenance checkup. Ask the tenants to put any non-emergency maintenance items on a list on the refrigerator so you can address them on your visit.

7. Remember their birthdays. A birthday card goes a long way! By sending a little card and note on their birthday, you are showing that you care about them as more than just a monthly rent check.

8. Include the washer & dryer. While a washer & dryer--and to a lesser extent a dishwasher may seem like luxeries to many--to some this is the kind of thing that will make-or break the deal. Be the option with the extras - and you will get more interest in your units, (plus you can re-coup the cost by charging a marginally higher rate!)

9. Offer an incentive. Everyone loves an incentive--so offer a free month if they sign this week, or throw in the upgraded cable, but never offer the first month free, give new tenants their birthday month free, or the 13th month, after they pay the first 12 (a "baker's dozen"). This way you wont get tenants just looking for a free place to live before they move on.

10. Be present. Be available. Lack of communication can quickly break down the tenant/landlord relationship. Respond to their questions and concerns promptly.

Kuester Property Management: Concord, Boone, Myrtle Beach, Fort Mill, Charlotte

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