Can property management software help improve the service you provide?
Imagine you are your client. The person you provide a service for. That could be a tenant, leaseholder, landlord or freeholder.
- Why do you work for them?
- Why did they choose you?
- Why didn’t they use your competitor?
- What makes you stand-out?
You sold them a service.
Are you keeping your promise and delivering that service?
Could you improve what you do without a huge investment? Imagine the impact on your business if you did do that. How you work is a choice, if you choose to be better than your competitors, the rewards can be highly beneficial.
What makes a good property manager?
When a landlord or letting agent hires a management company, they do so to minimise their workload cost-effectively. This can include many different services which are often bespoke to suit the requirements of the portfolio, the landlord and occupiers:
- Work on behalf of the landlord/letting agent
- Understand the needs of the tenant/leaseholders
- Increase the ROI of the properties by minimising vacancy rates cost-effectively
- Maintain the properties to keep tenant retention and value of the properties high
- Communicate clearly and transparently to all parties
This might sound like a lot of work but if it's approached right, time can be used effectively and all parties will be satisfied. Happy customers not only remain customers, they also recommend your services to others, the most economical way for business growth.
What do property owners expect?
Properties for landlords are an investment and letting agents need landlords for their business to be successful. It is crucial that the properties are well maintained to keep them occupied now and for the future. Poorly managed properties will lose tenants and their value.
Landlords want their properties to be occupied for the maximum amount of time to ensure that they are getting the most revenue from them. Vacant properties are under-performing properties.
Should a vacancy arise some landlords opt for their property manager to find suitable tenants on their behalf. In 2016 there has never been so many opportunities for marketing properties thanks to the internet.
Once the property is occupied it is important that it is managed well, this service can include anything from fixing boilers, refuge collections to maintaining the communal areas.
What do tenants and leaseholders expect?
When living in a property which you either rent or lease you expect it to be well maintained, if a problem does arise then it should be rectified ASAP and you provide value in the service you provide.
If you are approachable, focus on their needs and be transparent in the way you communicate then it is highly likely that they will appreciate you and recommend you to others.
The Benefits to Pleasing Your Customers
- Client retention
- Good reputation and word of mouth bring in new clients cost-effectively
- With more clients brings more opportunities for business growth
How can property management software help?
Time is short when you are a landlord and letting agent. Managing properties and tenants can be challenging as it requires a lot of different processes, the complexities are greater as a portfolio is extended.
It isn’t as simple as advertising vacant properties, moving tenants in and collecting rent. Marketing has to be done cost-effectively, applicants becoming tenants can be paperwork intensive whilst maintaining the properties unfortunately isn’t as easy as calling a plumber to fix the boiler.
The same issues apply to managing any business, it isn’t just about the properties, there are the financials aspects too. Cash-flow needs to be monitored carefully for the business to have a future and that isn’t easy when you are trying to juggle all of the day-to-day tasks in both property management and administration.
Property management software comes with the tools to streamline your workload, minimise data entry, improve organisation and provide a system which takes care of your portfolio. By implementing a software solution you will find yourself with more time available to provide a better service for your clients without cutting corners or adding to your wage bill.
Decorus for Sage is more than a solution for landlords, letting agents and property management, it includes a seamless integration with Sage. This unique link with the number 1 accountancy software in the UK simplifies the financial aspects of property management, reduces data entry and provides financial reports to ensure that the portfolio and business are being run cost-effectively.
Book an online demonstration to see what Decorus property management software for Sage can do for the service you provide?