When it comes to property management, prioritizing good communication is the true key to success.
But it can be hard to know what rental property owners are really looking for when it comes to how you communicate with them. How and what do they want to hear from you? This can be a difficult aspect of property management to navigate, as many clients will have different expectations for how and when you should be communicating with them.
In this article, we will go over everything that you need to know about communicating with your clients. We will talk about what they want to hear more of, what they want to hear less of, and everything in between. So, if you are looking to improve your property management company’s communication skills, look no further!
What Information Do Clients Want?
Generally, when it comes to keeping your clients in the loop, there are certain things that they want to know and there are other reports that they probably want to receive less often. Here’s a breakdown:
Information to provide more of:
- Updates on tenants and vacancies
- Detailed maintenance and repair records
- Thorough financial statements and reporting
Information to provide less of:
- Local market updates
- Property value assessments
- Suggested property improvements
Now, like most aspects of property management, each client has their own unique set of needs that you’ll want to fulfill. Make sure to talk to each of your clients to find out what information they would most like to receive from you on a regular basis. Property management software can streamline the communication process.
10 Tips for Better Communication with Property Owners
1. Learn How Your Clients Want to Be Informed of Emergencies
While you may think that the key to good communication with clients is knowing when they want to be contacted, it is just as important to know how they want to be contacted. This is especially crucial in the case of an emergency.
Using email may be a sufficient way to contact your clients for daily matters, but in the case of an emergency, a phone call may be the best option. It’s important to find out what method of communication is best for your individual client’s needs.
2. Figure Out What Situations Require Your Clients’ Input
Most property owners have specific situations that they would prefer to be included in, and others that they would rather delegate to your team. Establishing this is a huge part of communicating effectively with your clients.
Some owners want to be involved in every decision that is related to their investment, while others may prefer to only be involved in certain scenarios, allowing you and your team to feel empowered to make decisions on their behalf.
This is another area of customer service that requires you to have one-on-one conversations with each client to determine their unique set of needs.
3. Acknowledge Every Message Clients Send, Even if You Don’t Have an Immediate Solution
When your clients send you a message, it is crucial to make sure that you are responding in a timely manner.
Over the last few years, many property managers have reported that clients’ expectations regarding responsiveness and attentiveness have increased. What matters most is that you let property owners know that their messages have been seen and that you are doing everything in your power to attend to the issue at hand.
So, even if you have not yet figured out the solution to the problem or an answer to the question, make sure to respond quickly to let your client know that you are working to address their concerns. The bottom line: always reply to your clients within 24 hours of receiving their message, even if it is just to acknowledge their concerns.
4. Make Sure Your Clients Know Who to Contact
A common issue that arises when it comes to communication between property owners and managers is when it is not clear to a property owner who they should contact when they have a question or concern.
For this reason, it is important to make sure that you can identify a single point of contact for your clients. This will not only provide clarity to your clients, but it will reduce the likelihood of your clients’ messages slipping through the cracks.
5. Respond to Urgent Matters from Tenants as Soon as Possible
One major communication concern among many property owners is managers’ ability to respond to tenants quickly. Owners want to know that if a maintenance issue arises with a tenant, their property manager will be able to respond quickly and get it taken care of as soon as possible.
After all, tenant satisfaction is a main component of keeping a rental property profitable in the long run, so it is important to make sure that your tenants are taken care of. Further, failing to respond to maintenance requests from tenants promptly can cause unnecessary damage to the rental property itself.
We recommend offering a 24-hour maintenance line that allows tenants to contact your team directly in the event of an urgent issue on the property.
6. Provide Clear, Detailed, and Consistent Financial Reporting
One large aspect of being a property manager is providing detailed financial reporting to your clients so they can be aware of how their investment is performing. Since this is a large reason why owners hire property managers in the first place, it is crucial to make sure that your financial reporting is detailed, easy to understand, and consistent.
Many owners consider it a necessity to receive financial reports on a regular schedule that they can count on, whether it’s monthly, bi-monthly, or quarterly. The information included in your financial reports should also be accurate and easy for your clients to understand.
7. Include Photo Documentation of Your Rental Property Inspections
The majority of rental property owners do not live close enough to their rental properties to come look at their investments regularly, or they may simply be too busy to. Providing clients with photo updates can do wonders to foster healthy communication with them.
Providing a client with photos of your property inspections can help them feel more at ease with the state of their rental property. Doing a walkthrough inspection at least once a year and sharing photos of how tenants are caring for their property will allow owners to rest knowing that their investment is being properly taken care of.
8. Use Your Expertise to Help Clients Keep Their Properties Competitive
One of a property manager’s most useful offerings is their expertise in the real estate industry. Many newer investors will want your input on how to keep their rental properties competitive in the current market conditions.
The best part is, you don’t have to relay this information too often in order for it to be effective with your clients. Most property owners are happy with receiving this advice once every quarter.
Provide owners with all the latest information that they need to allow them to feel empowered to make informed decisions with their investments. Let them know about the latest market trends, comparable rent in the area, new investment opportunities, any changes in regulations, and more.
Your expertise is valuable, and providing advice regularly can help you strengthen your professional relationships with your clients, allowing you to go from hired service to a trusted advisor.
9. When It Comes to Maintenance, Document Everything
One crucial aspect of keeping your clients up to date on how their properties are performing is to be meticulous in your documentation of each property’s maintenance needs. This includes both immediate and preventative measures.
At the end of the day, your job is to take care of each rental property as if it is your own, so make sure that while you are maintaining the home, you are also keeping your clients up to date on everything maintenance-related.
This includes making sure to thoroughly document each repair that is made and all of the expenses related to the repair. After all, your clients will not want any surprises when it comes to where, when, and how much money has been spent on a repair.
10. Invest in High-Quality, Personalized Communication Efforts
Lastly, it is important to make sure that you are providing your clients with personalized updates on their properties, not just your standard monthly report.
Communicate often, and be sure to schedule regular one-on-one meetings with your clients to discuss how the property is performing, potential tenant issues, maintenance concerns, and anything else related to their investment.
Many owners want to hear from property managers in a more personalized form than a standard email. Whether it’s a phone call, a text, a virtual video meeting, or even an in-person meeting where possible, most clients simply want a personalized experience. This is the key to solid communication!
Bottom Line
As a property manager, it is crucial to invest time and energy into making sure that your communication with your clients is the best that it can be. This is mainly achieved by taking a personalized approach to each and every client, making sure that you are aware of their expectations.
By establishing these expectations with your clients, you will be able to communicate with them how, when, and as often as they would like. If you have any questions about how you can better communicate with your clients, contact our team at Blanket.
