Recently I started a business that focuses on assisting managers to build their rental pool.
Grab yourself a pen and paper as throughout this article I am going to divulge what we do and how we do it.
Last month I was lucky enough to go to three different Management Rights functions, Women In Management Gold Coast, Brisbane and the ARAMA Gold Coast event. This is the most I have ventured out since having my son a year ago. I was told by one very humours and cheeky fellow that I need to get a life, He is correct. Anyway, I digress you are not reading this to hear about my social life or lack thereof. During these functions, discussions were had about outside investors and why the managers felt that they were unable to obtain them and of course the question “So…. how do you do it?”, they asked sheepishly thinking I wouldn’t tell. “I communicate” (silence).
Communicating as obvious as it sounds seems to slip people’s minds. Some individuals think that because they are the onsite manager that investors are obliged to entrust them with their property, I wish it were that simple. Unfortunately, that is not how the system works, you need to sell yourself (I mean that in the most respectable way). A number of clients talk to me about doing so much for investors that aren’t even in their rental pool. I commend them immensely for being so kind then follow with “did you communicate this to them?”. If you do not tell them they do not know. As an onsite manager, you have many advantages over any agent. You are the owner operator of the business. This isn’t just a job for you, you are the specialist in the complex, you live onsite, you are accessible for tenants, you are there to rectify issues immediately. Did I mention you live onsite? The list really does go on and on. Educating investors as to why you are the best person for the job is crucial at winning them back. Some of these clients live in states where Management Rights is not as prominent as it is in QLD. Keeping consistent with your marketing ensures that you are at the forefront of the investors’ minds when their current property manager drops the ball. Within my business, I create a schedule, so I am able to track how often I am communicating with investors and through what platform, this keeps me accountable and organised.
When communicating with clients it is so important to emphasise how valuable their business is to you showing them you would go above and beyond. My goodness if an investor asked me to communicate with them via pigeon my next move would be to start a pigeon farm.
It is human nature to want to do business with people we connect with or like, so pick up the phone and start showing these investors how likable you are.
Communicate and educate consistently. Above all be genuine, kind and approachable.