Today’s residential rental housing market grows more competitive with each passing month. Vacancies fill faster than ever, and property owners expect the best management money can buy.
If you’re determined to keep your best clients and residents then you’re probably at least a few steps ahead of your competition. If you’d like to attract new clients and residents you’ll need to do even more.
Let’s begin with property owner clients, the ones you’d like to retain and new ones you want to attract. Create the opportunity to schedule a “meet-and-eat” event with your most important clients.
Yes, you’ll end up buying them a meal, but how much would it cost you to have to replace them? There is nothing more personally galvanizing to a relationship than face-to-face enjoyment of delicious food.
This will be a memorable time to express your gratitude for their business and confidence. Ask them about their plans, concerns, and if there are other ways you can be of service to them.
After they’ve had the opportunity to answer and if they are happy with the way you’re managing their properties, pop the proactive question. “Who else do you know who needs my help?”
Just to be clear, you are asking for a referral in a thoughtful manner. Since successful people tend to have friends and relatives who are also successful, your best clients can give you good introductions.
Ask for their permission to mention that they, your client, suggested the possibility of becoming acquainted. Better still, see if your client would arrange a meeting (tea, lunch, golf) for all concerned.
Your client has the most objective opinion of the quality of your property management business. Let them also introduce and promote the benefits you can offer their friend, colleague or family member.
Now let’s address the idea of keeping and attracting the best quality residents this world has to offer. The way to begin is by identifying who your best quality residents currently are.
This way you identify the attributes you treasure in these important people who help pay for your services each month. Next, find a way to let them know you value them sincerely.
If you have a vacancy or one coming soon, let your best quality residents know ahead of time and then pop the proactive question to them. “Who do you know who would be a great resident like you?”
As all successful property managers realize, if your best residents love living at the properties you manage, they’ll become your best advertisement of the benefits and advantages you offer.
Treat your clients and residents fairly and generously. Then when you ask for their endorsement they’ll be much more likely to give it with enthusiasm.
Stay a step ahead of your competition and prosper!