Ask any seasoned property investor what matters the most to them when it comes to their property manager and they’ll usually tell you it’s communication.
Landlords want to know what’s happening with their property, what their options are and, most importantly, what their property manager is doing to stay ahead of the game and protect their assets.
At Rentwest, we pride ourselves on communicating with our clients better than anyone else in the market. But we also know that good communication extends beyond just keeping landlords in the loop.
The importance of respect
We believe that the foundation of good property management is respect. That means respect for our landlord clients but also respect for the tenants who rent their properties.
After all, property management is a three-party relationship with the property manager playing an important role in communicating both to and between parties.
Financially, a good tenant is one of the most important ingredients in a successful property investment. When a tenant is late with the rent or fails to look after a property properly, it has real-world financial consequences for the landlord.
It also has a real impact if a tenant breaks a lease and the property is left vacant with no rent coming in.
Communicating openly with tenants
But at the same time, tenants are people and should be treated with the respect they deserve. Most importantly, the landlord’s property is their home and they need to feel comfortable in it.
One way we consciously decided to differentiate ourselves from many property managers was to develop a formal communications strategy that set out how we would communicate with everyone, including tenants.
We heard from too many tenants that they were made to feel unimportant when they’d rented properties. So we actively look to treat tenants as equals, communicating with them as frequently and openly as we do with our clients. This includes carrying out a comprehensive handover at the property when it’s time to move in. We also conduct tenant surveys and have an award for “tenant of the month”.
How we communicate
To make sure every tenancy runs as smoothly as possible, we work hard to communicate obligations to everyone at each step in the process, including both landlords and tenants. We especially go out of our way to help property investment property owners who are new to property management.
On a more micro-level, we also make sure we:
- Respond to emails as promptly as we can
- Return phone calls as soon as possible
- Organise maintenance for each rental property proactively
- Track all maintenance and provide updates to property owners, so that they always know what’s going on and there are no surprises
- Give tenants sufficient notice of any rental property inspections or maintenance orders, so that they have time to organise themselves properly and prepare
- Share important information on our Facebook page
- Interact with followers on social media, answering any questions and providing assistance where we can
- Provide our property investors with a monthly newsletter and tenants with a quarterly one
Asking people what they want
We didn’t come up with this approach on a whim, either. We wanted our communications strategy to transform the property management experience for both investors and tenants.
So we evaluated all of our communications and conducted surveys at every stage of the process to work out where we could improve.
We were thrilled with the result – 96.3% of owners and 97.2% of tenants said they would recommend us to others. And, the subsequent communications strategy that came out of these surveys has won us many awards.
But, most important of all, we know that, by placing this emphasis on communication, we can deliver our clients a service that many other property managers can’t.
We won the REIWA Communication award in 2012, 2015 and 2018 and the REIA award for Communication in 2019.
If you’d like to know how our award-winning team can help you make the most of your investment property, contact our friendly team today.