Is Your Property Business Remarkable or only Bricks and Water?

Property business consists of two main components:

The property itself and the people to whom you are selling or renting it to. Most often defined as your clients. Very often we hear the expression that property business is all about the people. Well I would like to believe that it’s both, the property or the building itself. As well as the people living in it.

As property managers, we deal with both of these areas on daily basis. And to make sure your business runs smoothly, you need to take care of both of these aspects. Maintaining the building in a good order and cultivating productive relationships with your clients.

Now, what I mean by maintaining your clients in good order is something we could write lots and lots of books about. But mostly it’s about keeping the relationships in good order from both sides.

Ensuring there is a mutual understanding, respect and good attitude and this is not something that’s easily achieved. Which is one of the main reasons why the rental properties should be managed by professionals who are also good at managing people.

Good relationships with people in your business, including your clients will always be a great asset. But it’s not always that straight forward. Especially when you try to create good relationships with your tenants.

My approach to this situation is ensuring my team and I listen and understand our tenants in an empathetic way. Without being too friendly as that can hinder relationship further along the way.

Usually everything is good with your landlord-tenant relationships until a problem or challenge arises.

For example, the boiler breaks down during Christmas period. The tenant understandably will want it fixed as soon as possible. In most cases, so will the landlord and even the plumber. But where the problem may arise, is at the plumbing part supply stage.

When a boiler needs some part to be replaced, for plumber to order or buy this part at the plumbing shop may be fairly challenging. And could take some time, sometimes even as long as a week or more.

Now, this is where the landlords’ people skills should be utilized.

Landlord must communicate in the best way possible to the tenant and explain the situation, as from the tenants’ side, all that matters is for this issue to be resolved.If the situation is not properly communicated, they will simply assume that the landlord is careless and not interested in helping, therefore the respect and understanding will be wiped away very quickly.

Therefore, the best piece of advice that I could suggest to anyone in this business, is to keep your tenants informed, as often as possible in regards to any maintenance or tenancy issues. Over 13 years of working with many different people and 7 years of managing the tenants in particular, I have learnt a great deal, and have even created some easily adaptable phrases that work fantastically in resolving most of the issues that arise during the tenancy.

Please feel free to reach out for more information on my most effective conflict resolution tips and catch phrases to use with your tenants, ensuring that your communication style is clear and effective, but most importantly makes people feel understood and respected.

Due to my experience, I believe that having great people skills, learning about different ways of communication, being proactive and managing people with empathy is essential for the growth of your company as well as being a well respected member of this industry.

With Gratitude,
Ilva Pam