Challenges and Solutions for Residential Property Managers - Part 2

Challenges and Solutions for Residential Property Managers – Part 2

Posted on 14. Jul, 2009 by Marc Courtenay in Business

What an exciting time for residential property managers! As successful people well know, a crisis can equal an opportunity.

In Part 1 of Challenges and Solutions for Residential Property Managers, I discussed how property managers can attract and retain residents, even in today’s economic climate. For this article I’ll turn my attention to owners.

One of the challenges property managers face involves keeping their owners satisfied and happy. This “knife” cuts both directions.

If you’d like to increase the amount of owners that you represent and work for, now is the time to reach out and contact multi-family and single-family income property owners to see if they are getting the service that you offer your clients.

In my interviews and my own experience as an apartment building owner, I’ve learned that some property managers have assumed their clients were pleased. In the busyness of their work the property manager hadn’t taken the time to find out.

This is a recipe for “customer dissatisfaction” and that is why, as one property manager told me recently, “Now is a good time to be prospecting for unhappy owners.” That is precisely what she is doing.

She began by calling each one of the owners she services. She asked them one simple question, “What one thing can I, your property manager, begin doing that will make you a happier client?” Then she put on her “listening cap” and took notes.

She ran a small ad in her local newspaper and the local business journal that read, “If You’re a Rental Property Owner and You Want Exceptional Service from Your Property Manager, Give Me a Call Today….I’m Looking For More Great Clients.”

During the following week she received 5 phone inquiries and she actually picked up an apartment complex who wanted better property management.

If you want to keep your clients, keep in touch with them regularly. Twice a year give them a personal telephone call. Send them a thank you card with a brief survey or comment card to return. Remember their birthday. Make sure they know how much you appreciate them.

If your customers need to sell their property, do they think of you first as a source of potential buyers? One property manager I employed also had a licensed real estate broker he partnered with and all his clients knew that he could help them buy or sell properties.

After all, it’s a “buyer’s market” and that also spells opportunity for property managers.

If you have any questions or comments, please “Leave a Reply” below.

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Tags: business, Marketing, owners, Real Estate

3 Responses to “Challenges and Solutions for Residential Property Managers – Part 2”

Debrina

23. Jan, 2010

Hello:

I find your articles very interesting and helpful.

I do have a question. I had a renter (younger male) move in to a very clean and nice rental. He paid the first 2 mos. on time and then it was I can’t afford this, I’m in over my head. And he moved out. The front door had been kicked in with several dents in the front door. The refrig. that was new in 2005. And was in fine condition, had been kicked/dented in several areas, top and bottom of the refrig. ext. door. The dishwasher also 2005 new, works and looked fine. It was dented in badly on the right front side. There were several ciggerette holes in the carpet and vinyl tile. (He signed a form that I specifically had on the lease agreement — not to smoke inside the rental). There were 3 punched or kicked holes in 3 different areas of the walls that will need repairing somehow. The inner locks and door frame on the front door were cracked and broken and now the bottom lock doesn’t lock, due to the kicking of the front door. We had just put up a new privacy fence in Aug. ‘09. The privacy fence gate was gone, taken down and apparently burned in a bomb fire that he had made thru out the front yard and back yard. Several little circular brick areas that he was using for fires and parties. I picked up roughly 8 large 33gal. trash bags of beer cans and bottles in the yard and had to take them off. It took 2 1/2 days to clean the inside of the stove/oven. I had to use 2 1/2 cans of strong easy off oven cleaner on the stove and a can on the bath tubs just to get the stains out of the white tubs. I did all of the cleaning in the place to bring it back up to standards. It was filthy and it was stinky. There is so much to mention but from what I have wrote about here, can you tell me how I can get this renter to pay for the damages? I called the county and they said it has to be over 2,500, and of course it exceeds that amt. I have pics. of the day he rented the place (in near perfect condition). And I have pics. of everything the day he moved out. The county court rep. told me it probably wouldn’t be worth it to sue him. Because it would cost another $185 out of our pocket to bring a judgement against him. We would go to court and if proven he would probably get a judgement. However, if we wanted to get him to pay for everything, we would have to get an attorney (more money) and sue him and have him supeona to court and see what the judge would do then to him. By making him pay in payments or whatever. But more than likely all he would do is put a judgement against him. I thought that their wages would be garnished until the landlord got the amt. paid off over time from the horrible renter. Is there anything else I can do or any thing you know of to tell me to show this guy he can’t do this to people’s property and get away with it?

He moved in Aug. 09 and signed a year lease. He paid a dep. and first months rent in Aug. He never paid Dec. and that’s the mo. he moved out. I left so many messages while he was still living there and he didn’t return any of my calls. I called his work and left messages also. So I drove there and told him in person to pay, that’s when he said he needs to move out. He can’t afford it. And everytime he gets a room mate they screw him over and move out. I told him, he’s the one who signed the lease and he is responsible for the rent and utilities. He told me he could afford it without a roommate anyway. So, he paid 4 mos. and a dep. out of the 12 mos. he was suppose to pay and a dep. I’m not worried about the remaining amt. of the lease. I wanted him out. It was so stressful trying to get the money out of him every mo. And the police were called so many times cuz he was having crazy wild parties there every night, a neighbor told me. But how can I get him for the damages? That’s my concern.
And 2 more things he did. The AC thermastat had to be replaced and the AC/Heater had to be cleaned out. He broke the thermastat was broken (the wall piece) which was fine before. And it cost $171 for that to be repaired. The toilets were broken in the back/tanks due to him pouring gals of water in the back of the toilets to flush them. Because he didn’t pay the water bill and the water co. shut it off. So he was still using the toilets just doing it the way you do when you don’t have water service. (It’s a crazy mess). We have not rented it out yet. It has been vacant since he moved out. I worked on it for about 2 weeks. It is in good condition now. But I still have the banged up refrig. the dishwasher that looks new except for the giant ding/dent in the front that’s very noticible. I priced the front door, the exact same one is $296 not counting installation or locks or lock holes to be cut. I’m just depressed and stressed about it. Please help and let me know if I can do anything more about this, than what the county said to me. I would really appreicate any advice you have.

Thank you,
Debrina
From Florida

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Sharon Klein

18. Feb, 2010

Did you do a background check on him before he moved in? Yours is probably not the first place he trashed.

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Marc Courtenay

18. Feb, 2010

Hello Debrina (and thanks Sharon for your comment):

This was the “renter from hell” and one of the most flagrant and egregious examples why background checks (credit, tenant and criminal histories) are beginning to be so necessary.
As to your recourse, the first that comes to mind is Small Claims Court. Usually if the total damages are less than around $5,000 you can file and represent yourself in Small Claims Court and ask the court for an award. They might have to garnish his wages or work out a repayment schedule but you should be compensated for all the damages.
My condolences for what you’ve been through, Debrina, and I sincerely hope you find a way to be remunerated for the damages and stress you’ve been put through. Please let me know how he works out and what you ended up doing so I can share it (without mentioning your name) and help other property managers avoid such a nightmare.
With Empathy, Marc

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Challenges and Solutions for Residential Property Managers – Part 2

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