Owning and managing a property is not an easy task. Time is money and there are plenty of headaches, mistakes, and inefficiencies in property management that can turn your dream career into a time-draining nightmare. However, there are some proven methods for avoiding property management pitfalls and increasing tenant satisfaction.
Reduce tenant turnover by staying in contact with your tenants regularly. Losing a tenant can be frustrating, and replacing them is often time-consuming and expensive, so keeping your tenants happy and satisfied is your best defense against vacancies. To help strengthen your relationship with your tenants, keep them informed about upcoming inspections, maintenance, renovations, rent increases, and other decisions that could affect their working situation.
By establishing this respectful communication channel, you can also encourage your tenants to let you know if they plan to move out before their lease ends. This will help you list upcoming vacancies well beforehand, so you can avoid a dissatisfied tenant leaving you with no warning and getting stuck with an empty space for months on end.
Descriptions and Photos
Prospective tenants want to see detailed descriptions and pictures of the spaces they are considering. To save time when you are listing and leasing a space, keep a database of professional photos and well-written descriptions for each space and property you manage. This will save you a lot of time when a space becomes vacant by having the content for the listing ready.
Inspections and Repairs
Inspections are critical. Schedule regular visits to your properties to identify any minor issues you can fix affordably before they become expensive problems later. Every little problem you can catch while it’s still a quick fix will save you the time, hassle, and headache of a lengthy repair project. Make repairs quickly. If something breaks down in a facility, providing reliable customer service and a timely repair can be the difference between keeping and losing that tenant when their lease is up for renewal.
To make this process easier for everyone, consider a maintenance reporting system that automatically alerts your preferred plumber, electrician, or other maintenance vendor whenever a tenant reports a relevant issue. An automated system will save you from a flurry of calls, texts and visits by alerting the right repair person to address the issue as soon as possible. This speedy solution will help reduce your tenant’s stress and minimize any collateral damage along the way.
For additional property management tips, contact MAC today. MAC is a contractor Kansas City property and facility managers have trusted for more than 25 years. MAC can help you with any facility repairs, remodeling, custom cabinetry, construction and many other projects