Bad communication usually means someone isn’t listening.
Technology, which can aid and abet good communication when used properly, sometimes makes it hard for us to listen.
How do you want your South Jersey property managers to communicate with you?
That’s something to think about before you partner with a management company. At Realty Solutions, we base our communication on listening. We listen to you and we listen to your tenants. We think about the tools and resources we have at our disposal to help solve problems.
We believe very strongly in relationships.
To have a good relationship with your property manager, you need to trust that they’ll communicate in ways that work for you and your residents.
Maybe you want to hear from your property manager frequently, just to check in. Maybe you don’t want to hear from them at all, unless there’s a problem or a necessary approval.
The way we communicate with you depends on what you need and expect from us.
One thing you can count on: we will communicate responsively and responsibly.
We will also listen.
A lot of us spend a good portion of the day sifting through emails and responding to text messages. The property managers on our team are no different. We love talking with our clients in person. We love phone calls where we’re talking about the market and how it’s impacting your investments.
Sometimes, automated communication is better. We’ve invested in systems and platforms that keep communication more transparent, responsive, and accountable.
Ours is a property management team that values communication, and we believe that being a local and innovative property management company allows us to communicate effectively with our owners and our tenants. When you’re choosing your property management partner, make sure they’re prepared to communicate in a way that works well for you.
Here are some of the things you should expect when it comes to communicating with your South Jersey property manager.
We Will Ask About Your Investment Goals
Here’s where it starts for us and where it should start for any property manager you decide to work with.
What are your investment goals?
To effectively communicate, we need to ask questions. Especially if you’ve never worked with us before.
You’re working with a South Jersey property management company because you want to improve the performance of your investment properties and you know we’re your best resource to achieve that.
This requires communication.
We talk with our investors early and often.
These aren’t conversations about rental collections and toilet troubles. We’re talking with you about your investment goals and the best path forward in achieving them.
Informal Communication vs. Formal Communication
An informal communication process can be just as effective in driving up ROI as a formal process.
|Formal Property Management Communication
Our formal communication process looks like this:
|Informal Property Management Communication
Here’s what you’ll see during our informal communication process:
Your property managers have an interest in your success.
We’re communicating because we want to help you earn more on your properties. You can count on communication that helps you make good decisions.
Our experience, resources, and professional connections and networks can lead you down a better and more profitable investment path. We want to help you grow your business and your portfolio, and to do that, we need to communicate. We need to understand your investment goals and lay out a strategy that will get you there.
We’ll keep you in the loop and help you make the right choices. Even better – we’ll protect you from potentially catastrophic decisions.
How Does Communication Actually Help You Make Better Decisions?
Our consistent communication helps you make more profitable decisions by:
- Holding ourselves accountable to your expectations and our promises.
- Allowing us to earn your business every time we provide new information, insight, or recommendations.
- Building trust that we’re in this together and here to help.
A record of strong investor communication and a documented history of better-than-expected performance will help you attract new investment opportunities and earn more on those you currently have in your portfolio.
Honest conversations are important in making the right decisions. You’re not going to earn more money when you have people telling you what you want to hear all the time. Surround yourself with those who are ready to have difficult conversations when necessary.
You Can Expect Communication That Leads to Productivity
When you work with a property manager, you can expect more than basic communication. The phone calls and emails and texts – those are methods of communication, but what are we really talking about when we’re communicating?
Usually, we’re talking about what we’re doing or what needs to be done. We’re asking about your thoughts on what we might eventually do.
We’re talking about productivity.
According to a study quoted by Entrepreneur.com, productivity increases by 25 percent when there’s good communication.
With better communication technology and skills, productivity can increase by up to 30 percent.
Barriers to communication cost businesses an average of $37 billion per year.
To increase the return on investment you’re earning on your rental property, you need to invest in productivity.
If you’re going to invest in productivity, you should expect a lot of responsive, intentional, and strategic communication from your property manager.
You need tools. You need direction.
Your property manager should be leading you towards better communication and more productivity.
What does productivity look like when it comes to how your management company leases, manages, and maintains your investment?
- It looks like on-time rent collection.
- It looks like low vacancy and high retention.
- It looks like a zero-percent eviction rate.
You need your South Jersey rental properties to produce by earning top rents and remaining in excellent condition.
You also need productivity from your property managers, and communication drives productivity.
Don’t Waste Time
Inefficient communication wastes time. Surely you’ve been stuck in meetings that should have lasted 15 minutes instead of an hour. Or, you’ve been blamed for not completing a task that you didn’t even know was your responsibility.
When communication is lacking or inefficient, you’re wasting your time and your resources.
A property manager can streamline communication and ensure you’re not wasting time – or money – on things that you shouldn’t be worried about. It helps you do better business as an investor and property owner.
The cost of time wasted is difficult to quantify but you know it has an impact:
- You’re missing deadlines
- You’re spending more time on maintenance projects that you expected
- You’re waiting for deals to close because someone was confused about what someone else meant.
It’s an endless, frustrating cycle that creates wasted time and opportunity.
|Quality Property Management Communication Protects Your Time|
|We communicate clearly and efficiently.|
|We’re productive, and that helps you be productive.|
We help owners by giving them more time to do what they do best while we do what we do best – manage your property.
We can’t do that without solid communication, and you should expect that your management team understands this.
How Tenant Communication Can Impact Your Rental Experience
As your property managers, we will be your liaison to your tenants.
There’s no need for you to engage with renters about maintenance issues, renewals, problems, or conflicts with other tenants. Your management company is responsible for staying in touch with residents. We manage the entire relationship.
Here is what you can expect in terms of tenant communication when you work with a management company. We’re also showing you why it matters.
|TENANT COMMUNICATION||TENANT RESULTS|
|Property managers discuss lease expectations before tenants move in.||Tenants understand what’s required in terms of maintenance, utilities, and keeping the property clean. Fewer lease violations and less confusion about who is responsible for what during the tenancy.|
|Property managers communicate a rent collection policy.||Rent is paid on time and tenants understand when rent is due, how much is due, when it should be paid, and what the consequences for late rent payments may be.|
|Property managers communicate the process for reporting maintenance.||Less deferred and unreported maintenance. Tenants understand the difference between an emergency and a general repair, and they report any problems right away.|
|Property managers talk about lease renewals.||Higher retention rates and fewer vacancy and turnover costs. Tenants understand when their lease will renew, how much higher their rent will be, and whether any changes to the lease have been implemented.|
Good Tenant Communication Leads to Better ROI
Tenant relationships make you more money.
We ask tenants whether they are having a good rental experience. We’ll respond promptly to maintenance requests. We’ll establish and enforce policies pertaining to rent collection, maintenance reporting, and pets.
What do you need to know about your tenants? You can expect us to share the highlights with you.
- You’ll know if we have to evict someone.
- You’ll know if a lease is broken.
- You’ll know if a major maintenance issue is reported.
Our goal is to ensure you’re informed. But, we’ll never expect you to chase down late rent or manage a dispute between neighbors. That’s where our communication skills are put to your best use.
Have You Thought About How You Can Communicate Better With Your Property Manager?
When you’re working with a professional South Jersey property management company, you won’t have to worry at all about communicating with tenants. Your property manager will take care of that for you, and the communication will be handled with expertise and professionalism.
Your property manager will also communicate with vendors, contractors, and real estate agents.
Your main job will be to communicate openly and responsively with your management team.
You’ll need to discuss your investment goals, talk about your plans for the property, and listen to the advice you’re given about pricing, upgrades, and maintenance. Share all of your expectations early so you can be sure everyone is on the same page.
Your property management company should discuss communication expectations and requirements even before you begin working together. Here are some tips on how to do what you can to establish and improve communication practices between you and your management team.
Make sure your property managers have your current contact information! This includes your phone numbers, email addresses, and even your home address in case we need to mail something the old fashioned way. Make sure your owner’s portal includes accurate banking information so there’s not a delay in getting your rent deposited.
Give us some idea of how frequently you’d like to hear from us. Are you comfortable simply visiting your accounting statements every month, and you’d rather not talk unless there’s a problem? Great. Are you still new to investing and you’d like to chat about where you stand every couple of weeks? We can do that.
As we mentioned early, look for opportunities to have informal conversations even outside of the formal communication protocols we have set up. It can make a big difference in how your property performs. The relationship you establish with your management team is important to your growth and your ROI.
Be open and transparent, especially with your property management team. We want to feel empowered to share recommendations and advice. This is the expertise and the value you’re paying for. If you trust us to do what’s best for you and your property because of our commitment to good communication, we’ll all be better off for it.
Talking About Technology and Communication
We are always recommending that rental property owners use the technology that’s available to them.
This helps with a number of things, most notably, communication.
A management company that has adequately invested in technology will provide an online portal for owners, where you can stay up to date with everything happening at your property. You’ll see accounting statements, financial reports, tax forms, leasing documents, inspection reports, and rental payments.
You’ll also be able to communicate electronically from anywhere in the world and at any time.
Personal communication is often required for sensitive conversations or the type of communication that needs context and nuance. Those quick phone calls, in-person meetings, and general run-ins are invaluable. However, you should leverage the tech that’s growing so rapidly in the property management field, and let it do its job towards earning you more money.
Technology helps with communication in some pretty substantial ways…
|We Lease Homes Faster.
When prospective tenants can get in touch via text or instant message and see a property for rent, the entire leasing process goes faster.
|We Document Everything
From inspections to tenant correspondence, our technology allows us to document all communication related to your property.
|We Provide Transparency
Good communication combined with good technology means you see everything we’re doing. This holds us accountable to you.
What Should You Do with This Information?
We have spent a lot of time and shared a lot of information outlining what you should expect when it comes to communicating with your South Jersey property management team.
If you are already working with a management company, the first question you should ask is:
Am I getting this type of proactive and responsive communication from my property management partner?
If you’re unsure, it might be time to switch.
If you’re not already working with a property manager, you might be thinking that it’s time.
Start looking for professional property management services, and make sure communication is something you talk about with prospective management partners. Ask them these questions before you sign a management agreement:
- How often will you communicate with me?
- What is your plan for communicating with tenants?
- What are your online communication capabilities?
- What kind of technology do you use to communicate?
We hope you’ll talk to us at Realty Solutions when you’re looking for expert property management in South Jersey. We’ve been leading this market and the industry, and we have some great strategies for communicating with our owners, our tenants, our vendors, and our entire network of real estate professionals.
Hopefully, you’ve found something you can use in this information and you now know what kind of communication you can expect from a property manager and how it helps you have a better and more profitable rental experience.
Let’s talk more about this. Please reach out to our team at Realty Solutions. We can talk about how you prefer to be communicated with and what we can do to ensure that all of your needs and expectations are met.
We are here to help you have a better, more profitable investment experience with your South Jersey rental property. We work in Audubon, Collingswood, Cherry Hill, Haddon Heights, Blackwood, and the surrounding communities.