Effective Property Management

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Effective Property Management

One of the most important factors and one that is often overlooked in Commercial Property Management is Tenant Relations. Establishing good tenant relationships is the lifeblood of an investment/income property and without them a property will certainly struggle and most likely fail. Studies have shown that it can take up to two years to make up for the loss of a tenant and that a tenant is three times more likely to renew if they are satisfied with their current leasing experience. Quite possibly the most important way to maintain positive tenant relations is through effective Property Management. Once a lease is signed, the tenant will have more daily interaction with the property management staff than any of the other parties involved in the leasing process.

 

Two essential elements of effective property management are good communications and superior service. Communication is paramount and takes many forms with email, text and phone communications being effective and necessary but nothing replaces personal contact and collaboration. With a majority of people still preferring to receive and share information face to face, regular visits and personal interaction with tenants are an absolute must. With regards to service, responsiveness is key. A proactive approach to tenant needs along with rapid response and completion of service requests are vital to tenant relations. By establishing direct tenant communications and active engagement, tenants see the benefit of working with the property management team and are far more likely to have positive feelings about remaining in the property. Positive tenant relations equals tenant retention which insures a profitable property.

Brian Williams
Director of Property Management

 

For information regarding our available properties for lease or to inquire about us managing your property, call 770.632.4000, or email Brian at bwilliams@rwcre.net

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